Signifyd today announced the release of its COVID-19 Business Continuity Package, a discounted set of commerce solutions to help ecommerce businesses prosper in the face of workforce disruptions, unexpected shifts in demand and new and increasing fraud threats.
The COVID-19 pandemic has upended all aspects of life and made business continuity particularly challenging for retailers relying on manual order flow and fraud review processes. For example, order review agents may not be equipped to view order data and shoppers’ personally identifiable information (PII) from home offices, introducing data-breach risk and compliance exposure.
The Signifyd COVID-19 Business Continuity Package offers new clients free services and an effective, fully scalable and ROI-positive way to manage orders that a merchant would ordinarily send to a manual fraud review team.
“Consumer compassion is at the core of every decision we make,” Signifyd CEO and Co-Founder Raj Ramanand said. “We are all finding our way in this unprecedented time. We will all get through this together and we wanted to find a way to make that path easier for retailers.”
Specifically, the Business Continuity Package gives new clients free access to Signifyd’s Agent Console and Insights Dashboard and includes Signifyd’s AI-driven Dynamic Review Capacity. Merchants pay only for orders they would have sent to manual review in normal times.
The Agent Console includes all transaction risk-scoring services, which are best in class due to the massive scale of the Signifyd Commerce Network. The network consists of thousands of merchants processing millions of transactions in more than 100 countries.
The Insights Dashboard includes real-time analytics of ecommerce trends and benchmarking data across Signifyd’s global merchant network.
Dynamic Review Capacity uses Signifyd’s self-learning systems to keep up with the constant changes in fraud attacks and consumer behavior in these chaotic times. The solution accurately identifies fraudulent orders and sees to it that legitimate orders are shipped promptly. Signifyd will maximize the approval rate on those orders and take liability for any chargebacks that result from its decisions.
The combination of Signifyd’s machine learning and the Commerce Network means Dynamic Review adapts to the rapidly evolving commerce environment far faster than a traditional rules-based solution could.
Together the elements of the Business Continuity Package provide the tools merchants need to fight the three-front war brought on by the coronavirus pandemic.
- With the automated solutions in place, merchants can make up for the loss of productivity and throughput that results from review agents having to work remotely. When order review can’t keep up with incoming orders, fraud increases and approval rates, customer experience and revenue all take a hit.
- Orders will be reviewed while all personally identifiable information (PII) is protected and all compliance issues around privacy and data-breaches are handled. Merchants need not worry about whether remote agents are equipped to view and secure PII from home offices.
- Signifyd’s learning machines can adapt to new and more aggressive fraud attacks launched by criminals seeking to take advantage of the chaos sewn by the coronavirus’ spread. Rigid rules are simply not up to the task.
More about how Signifyd’s COVID-19 Business Continuity Package can help ecommerce merchants serve their customers in the time of coronavirus can be found on Signifyd’s website.
Signifyd provides an end-to-end Commerce Protection Platform that leverages its Commerce Network to maximize conversion, automate customer experience and eliminate fraud and customer abuse for retailers. Signifyd counts among its customers a number of companies on the Fortune 1000 and Internet Retailer Top 500 lists. Signifyd is headquartered in San Jose, CA., with locations in Denver, New York, Belfast, and London.