Riskified

Score8 out of 10

40 Reviews and Ratings

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Riskified

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What is Riskified?

Riskified, headquartered in Tel Aviv, helps businesses to realize the potential of eCommerce by making it safe, accessible, and frictionless. Their eponymous platform allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, the platform identifies the individual behind each online interaction, helping merchants eliminate risk and uncertainty.

Categories & Use Cases

Rule-based Alerts
The system can be configured to generate alerts and notifications based on predefined rules that indicate suspicious or fraudulent behavior.
Category average: 9.2
Anomaly Detection
The software uses advanced algorithms to identify patterns of behavior that deviate significantly from the norm, enabling detection of fraudulent activities.
Category average: 7.5
ID Verification
The software incorporates robust identity verification mechanisms such as KYC (Know Your Customer) processes and multi-factor authentication to ensure the legitimacy of users.
Category average: 6.3

External Data Integration
The system can connect with external databases, APIs, and third-party services to gather additional information and enrich the fraud detection process.
Category average: 7.9
Investigation Tools
The software provides tools and workflows to manage and investigate potential fraud cases, allowing users to document findings, collaborate, and initiate appropriate actions.
Category average: 8.7
Compliance and Regulatory Support
The software incorporates features to help organizations meet compliance requirements and adhere to regulatory frameworks in the context of fraud prevention and detection.
Category average: 8.1

Verified User

Team Lead in Quality Assurance (201-500 employees employees)

Use Cases and Deployment Scope

Riskified filters transactions based on a specific list of circumstances. If the risks are too high, the customer's order is rejected. It has saved countless hours of manual reviewing of customers' orders, and so much money that could be lost to fraud without protection. It has also given us the language we can use to explain the situation to our customers.

Pros

Riskified explains very well why an interaction is declined.
Riskified made the switch to Single Sign-on virtually seamless.
It is fairly easy to use and navigate.

Cons

They changed their display from a map to a bar chart, It's harder to read.
Riskified could use different colors because there are some team members who are color blind on our team.

Return on Investment

Riskified helps us to decrease the amount of chargebacks we have year over year by .02%
Adding text message verification has increased the number of orders getting fulfilled and shipped to verified billing addresses!
Our approval rate increased

Other Software Used

CORESense, Solidus, PayPal Enterprise Payments

Verified User

Manager (501-1000 employees employees)

Use Cases and Deployment Scope

Balancing fraud prevention with a seamless customer experience is critical. We aimed to minimize friction in customer-facing verification processes while increasing approval rates and reducing fraud—without compromising the overall shopping experience. By integrating Riskified into our transaction processing and verification workflows, we introduced a more intelligent, automated approach to fraud decisioning that operates behind the scenes with minimal customer disruption. Since implementation, Riskified has become an essential part of our day-to-day operations. We’ve seen improved acceptance rates, reduced fraud exposure, and a smoother customer journey. This has enabled us to consistently deliver the high level of service our customers expect and enjoy when shopping on our site.

Pros

Identifying Fraud
Additional data surrounding their decision
Communication with us as a team.
Increased acceptance rate

Cons

Increasing visibility into their decisions.

Return on Investment

Decreased manual review volume.
Increase fulfillment flow and times of order post check out.
Providing insight to their decision with their extended network of data to relay.

Alternatives Considered

Sift Digital Trust & Safety Suite, Kount and an Equifax company

Other Software Used

Forter, Sift Digital Trust & Safety Suite, Signifyd Commerce Protection Platform

Verified User

Analyst in Finance and Accounting (1001-5000 employees employees)

Use Cases and Deployment Scope

We do use it to be a first filtering gate of potential chargeback.

Pros

Adopt AI

Cons

Support team is not very spontaneous

Return on Investment

Detail on manual transaction review

Verified User

Employee in Corporate (1001-5000 employees employees)

Use Cases and Deployment Scope

Riskified reviews all credit card, Google Pay, and Apple Pay orders for fraud. They use a completely automated process to process the orders in real-time and guarantees all orders with certain chargeback codes. They have been essential in improving authorization rates, decreasing chargebacks, and allowing our operations team to focus on reporting. Their suite of tools allows for many features to track metrics and they are always innovating with new products and processes.

Pros

Reviews orders in real-time
Boosts authorizations without a lot of false positives
Provides clear metrics

Cons

There is a little room for improvement on some metrics

Return on Investment

The Return on Investment has been great
Reduced person hours used to monitor for fraud
improved reporting for chargebacks and revenue

Harrison Gutierrez View profile

Sr Manager of SMB Operations in Product Management at Global-e (201-500 employees employees)

Use Cases and Deployment Scope

All of our consumer transactions go through Riskified. They take the risk of fraud, fraud rings, bad actors, and chargebacks off our hands, which is a huge effort considering we accept payments from all over the globe.

Pros

Customer Service: Our rep is very quick to respond to issues that come up and build custom workflows to support our business.
Admin UI: the actual Riskified admin Portal is great - the Insights provided help our CX team understands why a fraud decision was made and make it easy to pass along the info to our partners.
Fraud Check: The product is great at quickly identifying fraud to help avoid our company from taking on financial risk from fraud rings.