Riskified is a leading eCommerce fraud prevention platform specializing in increasing revenue and allowing businesses to operate with confidence by minimizing fraud risks.
| Product | Mindshare (%) |
|---|---|
| Riskified | 3.4% |
| ThreatMetrix | 4.9% |
| BioCatch | 3.2% |
| Other | 88.5% |
Riskified leverages machine learning to assess transaction risks in real-time, aiming to enhance customer experience and business profitability. By analyzing vast datasets, Riskified helps merchants approve more transactions and manage chargeback issues efficiently. It offers tailored solutions for a variety of online businesses, ensuring reliable risk assessment and fraud detection strategies.
What are the key features of Riskified?Riskified implementation varies across industries like retail, travel, and digital services, where high transaction volumes and diverse fraud patterns demand robust solutions. Retailers benefit from enhanced checkout processes, while travel companies leverage fraud detection during bookings. Digital services use Riskified to secure subscriptions and content access, maintaining a balance between security and user experience.
ALDO, Macy's, Finish Line, Burlington, Burton Group, Sky-tours, GiftCards.com, Kirna Zabête
| Author info | Rating | Review Summary |
|---|---|---|
| Operations Manager at Wanderlust | 4.0 | I find Riskified offers valuable scoring and yes/no functions, is stable, scalable, and has great support. However, its UI could be more intuitive. I rate it an 8/10. |
| Chief Financial Officer at a aerospace/defense firm with 51-200 employees | 5.0 | I find Riskified an excellent fraud prevention tool, offering a good scoring mechanism, superb stability, scalability, and A-tier support. While setup is complex, maintenance is minimal, and its KPIs surpass previous solutions. |
| Consultant at a tech vendor with 1,001-5,000 employees | 4.5 | I highly recommend Riskified for eCommerce fraud protection. It effectively prevents losses, integrating smoothly with our OMS. Its fast, stable solution, coupled with responsive support, makes it a valuable tool. My clients have avoided significant fraud issues. |
The most valuable features of this solution are the scoring and the yes, or no function.
I am satisfied with the documentation it provides.
It integrates well with other products.
The user interface could be more intuitive.
I have been familiar with Riskified for three years.
Riskified is a stable solution.
Riskified is scalable.
In my opinion, I believe the technical support is great.
The prices are reasonable. It is determined by the requirements of each company.
It varies depending on the demands of the consumer. It is not based on a single need, but on a percentage.
I think that it is a great partnership if you are looking for reliable fraud prevention for your company.
I would rate Riskified an eight out of ten.
Riskified is for fraud prevention. The solution sits close to the gateway. It screens orders and rejects those that have a high fraud profile.
The scoring mechanism is good.
I've been using Riskified for several years.
The uptime is close to 100 percent.
There are no restrictions on scaling up. It's amazing.
I rate Riskified support 10 out of 10. The support is A-tier. They're doing an amazing job.
Positive
We were relying on the velocity rules of the PSPs, but Riskified's fraud prevention mechanism beat those velocity rules.
Riskified was deployed before I joined the company, but I know it's not a plug-and-play setup. The fraud channel is a sensitive spot, so it's always complex. It requires little maintenance. It's maybe two hours a month, if at all.
We deployed Riskified in-house.
I rate Riskified 10 out of 10. Riskified's KPIs are probably the highest in the industry. My advice to prospective users is to look at the ROI and understand their cost structure. They need to understand the return they're seeing from distribution and whether it covers their cost sufficiently.
I'm working as an functional consultant for Manhattan Associates. I'm specialized in Manhattan's Active Omni cloud native solution. Our client is a world-renowned luxury retailer, they chose Riskified for protection against eCommerce fraud attacks (credit cards and Paypal).
Riskified integration with OMS systems, such as ours, is a simple and smooth process thanks to Riskified's team guidance. The process was as follows:
- sharing Riskified's endpoints so that the OMS can send data to Riskified during an order's lifecycle key stages.
- define the mapping requirements for each order's lifecycle key stages.
- define authentication protocols for forward and backwards flows.
Our clients have definitely avoided losing money on multiple occasions due to fraud.
The solution's main purpose is providing direct feedback on whether we can approve or decline orders to avoid fraud on eCommerce orders. Riskified's machine learning review process is fast: we receive the fraud response almost instantly upon requiring for an order review. Riskified's dashboard is also user friendly, simple and to the point.
For us, Riskified has been working great. The implementation was smooth. The communication with their customer support has been good. The solution itself was easy to implement.
I can't think of any major issues that we've faced that need to be improved. We didn't have the same consultants Riskified's side throughout the deployment, so we sometimes had to redefine the Business requests. However, this can happen on any project.
We haven't used all of the features that currently exist within Riskified, so it's a little hard for me to comment.
I have been using Riskified for over a year.
Riskified feels completely stable. We never experienced any issues, stability-wise.
Scalability-wise, it's been good — no issues to report.
The technical support was responsive to all of our project needs. Whenever we had any questions, they supplied us with quick feedback. The communication was smooth, which was really nice.
Payments gateways can initially have decision manager processes, but they're not always efficient. Riskified acts as a second step of verification — that's usually why it's implemented. We just do a couple of initial sessions between our payment gateway platform, our solution, the clients, and Riskified. We define what type of verification will be required, what type of payment methods will need to go through the Riskified process. For example, for us, it was mainly for PayPal and Credit cards (Visa, MasterCard, Amex). They have other payment methods methods that can also be implemented but overall, we define what type of mapping will be used for each order lifecycle key stage. When you have one order, you can send it once or multiple times to Riskified, depending on the Business/order lifecycle. For the first checkup, if you update the order, the question is, do you still want to send it to Riskified? What if you cancel the order? It all comes down to the business, and what the client needs. We define the business scope, the flow, and according to that, and based on that, Riskified provided us the mapping that they need for each trigger in the life cycle.
When we deployed Riskified, there were three people involved.
As far as job roles go: first, you need one design lead. He will define the overall design to make sure that we are covering all the bases. Secondly, there needs to be a technical consultant. He will be in charge of setting up APIs — the authentication process, the security process —, that will be used for authentication for the forward flow and the backward flow. And last, you would need a functional consultant who would ensure that end to end processes are working correctly, and that the full integration is working as expected.
Deployment time varies. If you have a big team, then you can do it in less than a month. On complex eCommerce projects, you might envision first implementing the vanilla flow then continuously upgrading to more complex flows.
I would say it's a good solution. I would recommend it for any eCommerce projects that don't already have fraud implementation in place. Fraud risk management is essential, even more as we're seeing an accelerated shift towards online buying and a major increase in online payments. Omitting payment risk management in an eCommerce project is a major strategic mistake that can directly impact a company's revenue.
You should still work hand-in-hand with the payment gateways because of course, it depends on what type of options you include in the payment gateway. Some payment gateways offer decision manager review process. It's a good start if you already have a fraud processing payment gateway. But it's better to add a second security layer by implementing an eCommerce fraud protection solution.
When using Riskified, it's important to know exactly what is expected from the solution. Throughout a project, requirement changes/new requirements might come up. When they come up, you might have to go through the flow again and adjust accordingly. I think it's important to clarify with the client exactly what flows they want Riskified to check because what was in it initially is not what is going to be in the scope in the end. There are always new requirements that require new changes throughout the integration. I think is very important to be sure at first, prior to starting the process, what exactly are the flows that will be impacted by integration with Riskified.
On a scale from one to ten, I would give Riskified a rating of nine.
