Business wire
New partnership equips merchants with the ability to combat payments fraud and returns fraud and abuse across the entire customer journey
Riskified and Appriss Retail Announce Pioneering Omnichannel Returns Fraud Prevention Solution
Media Contacts
Matthew Boncosky
Ketner Group Communications for Appriss Retail
Matthew.Boncosky@ketnergroup.com
Kayla Perkins
5W Public Relations for Riskified
kperkins@5wpr.com
Riskified (NYSE:RSKD), a leader in ecommerce fraud and risk intelligence, and Appriss Retail, a top provider of return and claim authorization solutions, are excited to announce a groundbreaking partnership set to transform the retail landscape. This innovative collaboration aims to address the growing challenges of omnichannel fraud and abuse by integrating comprehensive data on consumer shopping patterns throughout the entire customer journey — both in physical stores and online. From checkout to post-fulfillment, this initiative will deliver real-time protection for retailers across all channels, ensuring a secure and seamless shopping experience for their customers.
A new era in omnichannel fraud prevention
In today’s rapidly evolving retail landscape, ensuring a seamless in-store and online customer experience while safeguarding against returns fraud is paramount. Through this partnership, Riskified and Appriss Retail can leverage their combined data and expertise to deliver a solution that significantly enhances merchants’ ability to prevent fraud and policy abuse consistently across all channels, whether online or in-store, from purchase to return. By joining forces, the two companies have one of the most comprehensive views of consumer behavior available to the retail industry, providing an unparalleled resource for combating retail fraud and abuse.
Riskified and Appriss Retail are committed to pioneering smart solutions that address the evolving challenges of modern retail. By utilizing cutting-edge technology and data-driven insights, these industry leaders are setting a new standard in fraud prevention.
"The return and claim landscape is evolving quickly, and fraud and abuse continue to be significant challenges for merchants, hitting over $100 billion in losses for retailers, as highlighted in our annual returns report with Deloitte,” said Michael Osborne, CEO, Appriss Retail. “The challenge for merchants has been achieving a comprehensive omnichannel view, which, until this alliance with Riskified, did not exist. Together, we're equipping merchants with the tools to combat return and claim fraud across all channels while delivering the best possible experience for their consumers. By combining our individual strengths, Appriss Retail and Riskified have created an unparalleled omnichannel solution for merchants."
“As return and refund abuse continues to escalate, merchants today face the dual challenge of enhancing customer satisfaction while managing this significant risk. Our new partnership with Appriss Retail directly addresses this issue by offering, for the first time, true omnichannel fraud and policy abuse protection. This comprehensive offering seamlessly integrates online and offline channel data, streamlining workflows, reducing overhead costs, stemming losses, and providing a unique, unified view of customer interactions. We’re excited to leverage this partnership to deliver greater value and innovation to our clients,” said Eido Gal, CEO of Riskified.
Key benefits of the partnership:
- Omnichannel protection: By integrating Riskified and Appriss Retail capabilities, merchants can confidently prevent fraudulent returns and abusive claims regardless of whether they originated from an in-store or online purchase.
- 360-degree view: This joint solution will provide a unique, holistic understanding of a customer's identity and shopping patterns, stitching together consistent decisions across the customer journey and across all channels.
- Better customer experience: With an omnichannel view of the customer’s true identity, retailers can deliver superior experiences and robust policies with confidence, ultimately driving higher sales and maximizing profits.
According to new research from Opinium and Cebr, commissioned by Riskified, returns, refunds, and exchanges constitute a staggering $394 billion expense for retailers in key ecommerce markets, and only three in 10 merchants have implemented a strategy to prevent fraudulent returns and refunds. To learn more about how retailers and their customers are impacted by policy abuse, download Riskified’s Returns, refunds, exchanges: Global insights and policy playbook.
Additional details on the partnership are available at - www.riskified.com/lp/partner/appriss-retail/
About Riskified
Riskified (NYSE:RSKD) empowers businesses to unleash ecommerce growth by outsmarting risk. Many of the world’s biggest brands and publicly traded companies selling online rely on Riskified for guaranteed protection against chargebacks, to fight fraud and policy abuse at scale, and to improve customer retention. Developed and managed by the largest team of ecommerce risk analysts, data scientists, and researchers, Riskified’s AI-powered fraud and risk intelligence platform analyzes the individual behind each interaction to provide real-time decisions and robust identity-based insights. Riskified was named to CNBC's World’s Top Fintech Companies in 2024. Learn more at riskified.com.
About Appriss Retail
Appriss Retail provides retailers with protection against fraud and abuse for every transaction, no matter where it happens. With more than 20 years of retail data science expertise and experience, we’ve built a collective, omnichannel intelligence platform that is trusted by over 60 of the top 100 U.S. retailers, covering one-third of all U.S. omnichannel sales across 150,000 locations. Globally, Appriss Retail reaches 45 countries across six continents. The company provides relevant, actionable, and profitable collective intelligence to retail operations, finance, marketing, and loss prevention teams. Appriss Retail’s performance-improvement solutions yield measurable results with a significant return on investment. For more information about Appriss Retail, visit apprissretail.com or our LinkedIn page.
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