Case Study: Ashford
75%
Reduced employees verifying orders by 75% (from 15 to 5)
90%
Automated up to 90% of orders
10%
Provided a fraud analysis dashboard for easy manual review of the remaining 10%
Problem
The luxury jewelry market is a high risk market for fraud, and Ashford's fraud team was kept busy managing their order review and acceptance. The fraud tools they were using forced them to spend time and resources setting the rules manually.
They were spending too much time tweaking and writing the rules, and they were struggling to balance correctly detecting chargeback risks without canceling real orders. Worse, their high ticket merchandise meant that fraud tools that manage the rules and the risk were simply not cost effective.
Problem
Too much time managing fraud rules
Too many real orders rejected
Very costly manual verification process delays
The Solution
FraudFix tailored a plan that fit Ashford's needs, managing the bulk of Ashford's orders while giving them the visibility and the tools to manually review the rest. This meant that the solution was cost effective while allowing the fraud team to easily review the remaining orders using the comprehensive FraudFix dashboard.
FraudFix used machine learning to set the fraud rules automatically to approve most of Ashfords orders. These rules have been so accurate that they have brought chargeback rates down to an astonishing 0.04%. The remaining orders are quickly reviewed manually using the FraudFix dashboard. Hundreds of data points are quickly available for every order. Using the FraudFix dashboard, Ashford is able to approve 80% of the remaining orders.
The Solution
0.04%
Chargeback rates down to 0.04%
80%
Manually approve 80% more using FraudFix fraud tools
70%
FraudFix guarentees over 70% of the orders
About Ashford
Founded in 1997, Ashford.com is an online, international, luxury watch retailer. The company was listed on NASDAQ and has formed partnerships with large retailers such as Amazon, and in 2012 was ranked #323 on the Internet Retailer Top 500.
Ashford offers a large selection of luxury watches across a wide spectrum of brands and price points, and is known internationally for their product guarantees and extensive warranty.
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