Riskified Wins Prestigious MRC Award for Emerging Technology

By 16/03/2016June 4th, 2021No Comments

Another epic Merchant Risk Council conference is in the books and the Riskified team feels fortunate to be a part of such an incredible community.  Joining over 1,500 attendees from across the globe to learn about industry trends and share best practices is always one of the year’s highlights and the 2016 conference stood out as we were voted the winner of the prestigious MRC METAward.

Throughout the four days at MRC Vegas, we had the opportunity to meet with and learn from many partners, retailers, and industry experts. It’s evident the challenges of managing online fraud continue to evolve and are only exacerbated by the rapid growth of eCommerce and international expansion. The show gave us with a chance to share our insights and to present our strategies in tackling these challenges during several sessions led by the Riskified team.

Riskified’s co-founders Eido Gal and Assaf Feldman presented Spektra, our award-winning behavioral model that leverages deep machine learning to accurately distinguish between legitimate customers and fraudsters. The result is an enhanced ability to reduce false positive declines and avoid fraud, leading to more revenue and improved consumer trust.

In a separate session, we introduced Final Check – a brand new integration-free solution that provides guaranteed decisions on orders retailers would otherwise decline. This risk-free tool helps demonstrate the ROI of the chargeback guarantee model without requiring any development resources. The product is still in beta, so it was extremely helpful to hear feedback from the community.

Finally, Riskified led a session about the consumer impact of false positive declines and how merchants can implement best practices and a new mindset to help improve customer experience and drive top-line sales.  This was the first opportunity we had to share our research with Javelin Strategy group with the MRC community.

Our team left the conference reenergized about working with the MRC community to identify new ways to tackle the challenges of conducting eCommerce safely. We can’t wait to see what else is in store for 2016 and beyond.