BLOG
Rainbow switches to automated decisioning and sees results
Automation enables improved approvals and decreased chargebacks
Through leveraging AI and machine learning, Forter provides us an expert eye for the details of many forms of fraud, with full automation and higher accuracy.
Michael Hoffman
Director of E-Commerce and Customer Service
1,000+ locations across the U.S., including Puerto Rico and Virgin Islands
Forter customer since 2017
Forter customer since 2017
Products
Trusted Conversions
Automating fraud to boost approvals & experience
CHALLENGE
Legacy fraud prevention system too slow and not always accurate
Rainbow’s rules-based approach to fraud prevention was slow and prone to false positives leading to declined transactions, unhappy customers, and lost sales.The company needed a fraud prevention solution that would help it efficiently deal with fraud.
STRATEGY
Automated approach for high approval rate without increasing risk
Rainbow sought to automate 100% of the fraud prevention process in order to maintain a high approval rate without compromising decision accuracy. Rainbow also wanted to provide customers a seamless shopping experience and prevent fraud without adding friction.
SOLUTION
Solution reduces friction and increases approvals
Forter’s Payment Fraud Protection Solution has elevated Rainbow’s approval rate to 99.3% and led to a 56% YoY chargeback reduction rate. With Forter, Rainbow completely automated the approve/decline decisioning at the point of transaction. The company also better understands how to address unique fraud pain points.
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