TrustRadius Insights for Riskified are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Pros
Efficient Customer Service: Users have praised the customer service team for their supportive nature and quick responses. The Riskified support team has been praised by reviewers for promptly providing assistance when needed and resolving issues in a clear and concise manner.
Strong Fraud Prevention Capabilities: Reviewers value the platform's fraud prediction features, mentioning reduced friction, improved acceptance rates, and effective fraud identification as key benefits. Users feel as if their personal information is safe with Riskified as opposed to other products.
Effective Risk Management Tools: Customers appreciate the platform's ability to prevent fraud effectively, drive revenue, and offer valuable data analytics for informed decision-making.
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.
Likelihood to Recommend
It is very appropriate when customers are placing orders using their credit cards instead of using PayPal. We work very hard to make sure that we are protected when orders are placed, as well as customers, and Riskified helps us to make that happen. It is an organized system that is easy to understand and navigate, and I would recommend it to other businesses!
VU
Verified User
Team Lead in Quality Assurance (201-500 employees)
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
Likelihood to Recommend
It is well suited for all online orders that are placed using a credit card, Apple Pay, or Google Pay. They do not offer an in-store purchase fraud solution.
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.
Likelihood to Recommend
Riskified’s solution is particularly effective when implemented post-checkout to support approval and decline decisions. Their automated approvals have significantly reduced the volume of transactions requiring manual review, allowing our team to focus on higher-risk cases and operate more efficiently.
At the same time, Riskified’s decline recommendations add a valuable layer of insight for our review agents, helping inform more confident and consistent final decisions.
For organizations looking to streamline fraud operations while maintaining strong control and a positive customer experience, we would highly recommend incorporating Riskified as part of the post-checkout decisioning process.
We run several ecommerce businesses, each with a high incidence of fraud. We use Riskified to mitigate our fraud losses. Riskified reviews each of our orders in a highly automated manner. There is a chargeback guarantee, so if a fraud chargeback comes in on an order that Riskified approved, they reimburse us.
Pros
Prevent fraud
Drive revenue
Data analytics
Cons
Customize their model for our business
Occasional bugs with reporting on the portal
Likelihood to Recommend
Riskified is well suited to mitigate fraud loss in an ecommerce business. They work with a wide variety of clients and industries. They are very customer centric -- they are always eager to learn about our business and needs, they are very responsive, and they are great at connecting us with other companies facing similar issues.
VU
Verified User
Director in Finance and Accounting (201-500 employees)
My company utilizes Riskified as our online order fraud screening vendor, which helps to minimize the manual work of reviewing orders for fraudulent activity. Our teams are highly interactive with each other in order to communicate needs as fraud trends emerge, and Riskified is able to quickly adjust their models to capture and address. After implementing Riskified, we have minimized our fraud loss numbers from online traffic. For 2021 fiscal year, we had 110.5M orders processed by Riskified with a 0.03% chargeback rate. We continue to see improved approval rates year over year as a whole.
Pros
Collaboration; Riskified builds strong relationships with their clients and works to always meet the clients' needs
Ascend; This is a great way for Riskifieds clients to meet, collaborate and learn from each other
Innovations; Riskified puts a huge emphasis on listening to their clients and finding a way to meet their needs, whether it's chargeback related, fraud screening related or abuse related.
Cons
It would be beneficial to be able to utilize more data within Riskified's model across the industry while being able to keep the clients anonymous.
Work towards a platform where point of sale transactions could be potentially screened and incorporated into the screening process.
Likelihood to Recommend
Riskified does an outstanding job of taking feedback from us and making improvements to their web app interactive tool to meet our needs, whether it's adding a filter or adding new segments to be screened. They continually strive to make improvements to their tools and take initiative to be proactive in all situations.
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.
Cons
None - I have never had an issue with Riskified or the team that has supported out business!
Likelihood to Recommend
If you're looking for a quick, easy, and transparent fraud services provider, this team is the one-stop-shop: - Great customer Service. Account reps are fast and communicative and have always been supportive of changing workflows to support our business - Powerful tool with in-depth analysis and insights: Their UI is easy to use, and the detail provided on fraud decisions is very detailed. - Fast: Fraud decisions are very fast, minimizing any delays in our payments workflow.