Working with consumer electronics ecommerce clients, we discuss their goals and benchmarks and set thresholds to determine if their fraud rate is approaching what we call the “danger zone.”
These thresholds aren’t set in stone either — they vary by country and industry.
To find out where a customer is on this threshold, we lean on industry expertise and data analytics.
Retailers often work with blinders on when it comes to fraud, only looking at their own customer transactions. The problem is, that they are easily blindsided by fraud trends that start in other industries or countries.
We use data analytics to offer our clients a number of advantages in fighting fraud.
ClearSale provides data across industries and countries to improve your capacity to identify and stop fraud — not just on your narrow cross-section of customers but on trends occurring around the world.
“We inform our clients about what’s happening elsewhere in the world. They find out about trends and what is being done to successfully address them.”
— Rick Sunzeri, ClearSale Director of Enterprise Clients
Sometimes retailers mistake fraud as an isolated incident, but that’s not how it works. Fraudsters aren’t shoplifters who slide a piece of jewelry under their jacket and slink out the door. They perpetrate orchestrated, multifaceted attacks. That means, where there’s smoke, there’s fire. If you find one fraudulent transaction, there are probably many more happening at the same time.
Data helps detect these types of attacks.
At ClearSale, we perform batch analyses of transactions after processing to determine if the right decision was made. Not only does this educate the customer, but it also provides training and insights they wouldn’t typically have … along with a team of data scientists analyzing the client’s fraud and markets.
Using data, we help our clients be more prepared to fight fraud.
Data analytics is at the core of our approach.
ClearSale takes a hybrid approach to preventing fraud. We combine advanced statistical and artificial intelligence with the world’s largest team of specialized fraud analysts to deliver a balanced, real-world solution unlike anything else in the ecommerce market.
Clients rely on our fraud prevention services as an outsourced or augmented solution, allowing them to maintain their existing teams and tools, improve their fraud prevention capabilities, and improve accuracy, no matter the situation.
It starts with machine learning to increase approval rates.
All transactions are screened using artificial intelligence (AI) and machine learning to fine tune fraud models based on customer behavior. Transactions that pass with flying colors are automatically approved, and questionable or suspicious transactions are flagged for further review.
Machine learning/AI can also be used post-processing to confirm that the right decisions were made and “teach” the system to better detect patterns moving forward.
If necessary, ClearSale can also assist with the chargeback dispute process.
Whether you have an in-house fraud team or you are the team, many ecommerce retailers don’t have the resources to chase down the documentation required during the chargeback process.
ClearSale’s team of fraud analysts and customer success managers can help by handling the entire chargeback process or a part of it, freeing your team up to follow up on suspicious orders.
Follow up is another area where ClearSale adds value. The research required to validate details and even contact customers regarding suspicious orders can be time-consuming. Our data scientists and fraud analysts can help with secondary reviews of potentially fraudulent orders.
Using their expertise and understanding of fraud trends, they can determine if a transaction is valid or not and share that information with your team.
ClearSale is a trusted fraud prevention partner in the consumer electronics industry. Clients like Garmin, BlueRobotics, Asus and Motorola have seen impressive results after partnering with us, including:
Our fraud protection solutions quickly integrate with all major ecommerce platforms via an easy-to-install plugin.
Even our human analysts are fast.
ClearSale’s Chargeback Insurance program offers 100% guaranteed coverage of all fraud-related chargebacks. Chargeback Ops (a ClearSale company) provides end-to-end chargeback management services.
Our system will never auto-decline an order.
Our multitiered team approach to fraud prevention lets us continually calibrate our proprietary statistical model as new fraud patterns emerge.