James Allen: Stunning diamonds, beautiful jewelry designs, and a customer experience to match. That sense of exceptionally high quality is expressed throughout every aspect of the website, from images to expert advice to the process that enables customers to either buy their dream piece or create their own.
The Fraud Prevention Challenge
James Allen needs fraud prevention that contributes to that excellent experience.
Frictionless fraud prevention is a challenge for every merchant who cares about providing a smooth, seamless purchase process.
For decades delays and friction have been an inseparable part of online fraud prevention. Delay in order confirmation and fulfillment comes from manual reviews, and the purchase process is often interrupted through demands for further identifying information.
All of this is a particular pain point for luxury retailers, who aim for a luxury buying experience to match their valuable merchandise. Yet by the same token, any successful fraud is especially expensive for retailers whose goods come with a high price tag.
James Allen knew this, and had created a high quality fraud team to fight the problem. The trouble was balancing fraud prevention with the customer experience they desired – and James Allen was determined to find the best of both worlds – an ideal customer experience, combined with highly effective fraud prevention.
Protecting James Allen’s Revenue from 2 Angles: Growth and Loss
Forter’s completely automated solution is the perfect solution to this luxury problem. Full automation and real-time decisions for every single order mean that customers are never delayed or inconvenienced by antifraud. In fact they never even realize they were analyzed.
This is perfect for any retailer looking for luxury fraud prevention to support the luxury shopping experience. Moreover, since Forter’s system is accurate rather than risk-averse, James Allen saw sales increase as well. Approvals, which were already high, rose 1.5% to reach 99%. And false positives, the natural result of caution on the part of a retailer who knows their goods to be fraudster favorites, dropped 21%.
The accuracy of Forter’s system ensures that fraudsters who try to target James Allen’s appealing products are frustrated. Cyber intelligence, behavioral analytics and elastic identity, employed through machine learning and refined by human experience, expertise and research, ensure that the system is always up to date with, and primed against, the latest fraudster tricks. Although they knew their fraud prevention had been top notch from the start, James Allen still saw a 15% chargeback improvement once they switched to Forter.
Forter’s system contributes to James Allen’s revenue from two equally crucial directions. On the one hand, the frictionless nature of the solution means that customer satisfaction is high and sales are not lost through delay or over-caution. On the other hand, loss to successful fraud is also prevented using Forter’s sophisticated technology.
It’s the best of both worlds solution that James Allen wanted.
To find out more about how Forter’s solution helped James Allen to grow sales, remove friction and beat fraud, read the case study.