At a glance
Industry
Retail
Challenge
Addressing revenue recovery by identifying false fraud flags and enhancing efficiency in processing flagged orders swiftly.
Success History
At a Glance: Our AI-driven approach with Tableau cut flagged order resolution time by 75% (48h to 12h), boosted accuracy (85% to 95%), and increased revenue recovery (80% to 90%). Automation reduced fraud analysis tasks by 70%, recovered 10% more transactions, and saved 1,000+ hours annually—enhancing efficiency and trust.
Problem
Statement:
In the fast-paced world of digital payments, fraudulent transactions pose a significant challenge for merchants. Whenever an order is flagged as potentially fraudulent, a detailed manual analysis is required to evaluate its legitimacy. This process, though crucial, is time-intensive and involves assessing multiple orders, including those from repeat offenders.
The Challenges
For our team, the challenge was twofold:
-
Revenue Recovery: Ensuring that legitimate transactions falsely flagged as fraud were promptly identified and converted into good revenue.
-
Efficiency: Reducing the time and effort spent analyzing repeated patterns of fraud which delayed our ability to process multiple flagged orders swiftly.
This labor-intensive process not only impacted operational efficiency but also risked lost revenue opportunities for merchants due to delayed actions on legitimate transactions.
Our
Solution
To tackle this issue, we introduced Tableau into our process to leverage its advanced data visualization capabilities.
This allowed our team to analyze historical data and identify patterns in fraudulent activities efficiently. By automating insights and flagging repetitive threats, we streamlined the decision-making process.
This enabled our team to:
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Accelerating the resolution of flagged orders.
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Reducing the time spent on repetitive fraud analysis.
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Improving the accuracy and speed of identifying legitimate transactions.​
By automating the visualization of threat metrics, we reduced the manual workload, saved valuable time, and significantly improved the speed and accuracy of our fraud detection process.
Business Outcomes
10
%
Accuracy Improved
10
%
Revenue Recovery Increased
75
%
ART for flagged orders dropped.
10
%
accuracy Improved in legitimate transactions
Looking to enhance fraud detection and optimize your digital payment security? Get in touch with us today to see how AI and our expertise can transform your fraud prevention strategy!
