How adidas reduced chargebacks significantlyHaving worked with various risk management solutions, the adidas team already had experience in using and configuring risk engines for different markets. However, due to changes in the behavior of fraudsters, the team required external expertise to adapt their setup accordingly.
Read how anlyx helped adidas to reduce chargebacks by over 75%.
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Can you configure your risk engine correctly?
Identifying fraud has never been easier in eCommerce history, hasn't it? Over the last years a wide range of risk management solutions launched. All of them promised to stop fraud.
Unfortunately, our experience teaches us a bitter lesson. Due to the wrong business model of solution providers and the high skill level, which is required for working with the systems, many merchants are not able to adjust their risk setup correctly.
Risk engines follow the wrong business model
Success metrics for risk management solutions are still focused on chargeback rates. Damages due to rejecting legitimate customers – so called False Positives – are not considered. Therefore, many merchants miss out on revenues, which exceed the savings from prevented fraud.
High skill level required
Merchants are lacking the capabilities for configuring their risk engines correctly. As solutions are becoming ever more complex, payment departments do not have the skills in analytics and data science to maintain the software. Without external expertise, merchants loose revenue to fraud and too many False Positives.