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NEW YORK — Riskified, a leader in e-commerce fraud and risk intelligence, and Appriss Retail have announced a groundbreaking partnership 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 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.
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 e-commerce 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.
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 innovative 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, chief executive officer of Appriss Retail.
“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 off-line 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 all channels.
- Better customer experience: With an omnichannel view of the customer’s true identity, retailers can confidently deliver superior experiences and robust policies, ultimately driving higher sales and maximizing profits.
