Riskified, a leader in e-commerce fraud prevention, and Appriss Retail, a top provider of returns and authorization claims solutions, have announced a pioneering partnership aimed at transforming the retail sector. This collaboration addresses the growing challenges of fraud and abuse in omnichannel commerce by combining data-driven insights on consumer shopping behavior across both physical stores and online platforms. The goal is to deliver real-time protection and create a seamless, safe shopping experience for customers, while minimizing risks for retailers.

Key Aspects of the Riskified and Appriss Retail Partnership

1. Omnichannel Protection Against Fraud

• The partnership integrates Riskified's fraud prevention technology with Appriss Retail's returns and claims solutions to protect merchants across both online and in-store channels.
• Retailers can now prevent fraudulent returns and abusive claims, addressing issues from purchase to return seamlessly.

2. 360-Degree Customer View

• This joint solution gives retailers a comprehensive, omnichannel view of customer behavior, enabling consistent decision-making across the entire shopping journey.
• By combining insights from both online and offline channels, retailers can ensure accurate and informed actions that enhance the customer experience.

3. Reduced Losses and Overhead

• The integrated solution reduces the overhead of managing fraud prevention separately across different platforms, streamlining workflows and limiting potential losses from return and refund abuse.
• Merchants can also minimize the risks of fraudulent claims by obtaining real-time data on customers' purchase behavior, thus improving the overall security of their operations.

4. Improved Customer Experience

• With a unified view of the customer's identity and shopping patterns, retailers can offer a superior experience, ensuring that policies are clear and consistent, ultimately fostering customer trust and satisfaction.
• This holistic approach not only enhances security but also improves customer retention and satisfaction, boosting sales and profits.

5. Addressing the Scale of Return Fraud

• The partnership aims to address the staggering $394 billion cost of returns, refunds, and exchanges for retailers in key e-commerce markets.
• According to recent research, only 30% of merchants have strategies in place to prevent fraudulent returns, making this collaboration essential for retailers to stay competitive and secure.

The partnership between Riskified and Appriss Retail represents a game-changing development in the fight against omnichannel fraud and abuse. By combining cutting-edge fraud prevention technology with a holistic view of consumer behavior, the two companies offer retailers a powerful tool to protect their revenue, reduce fraud, and enhance the overall customer experience. This innovation is set to redefine how retailers approach fraud prevention in a rapidly evolving retail landscape.