This is part two of a three part series. Read part one: How eCommerce Companies Prep For The Holidays. Read part three: The biggest challenges eCommerce companies face and their best advice for thriving during the holiday season.
We wanted to know how our customers prepared for the holiday season; how do other companies prepare? What challenges do they face? We surveyed over 150 eCommerce fraud managers about what their preparation process looks like in hopes of being able to help you fight fraud smarter.
Some companies review every transaction that comes through, while others set up rules and only review those that don’t pass. Either way, manual review is an extremely important part of the fraud prevention team; review agents serve as the gatekeepers for which transactions get approved. Ultimately, the goal is to let your good transactions through while quickly detecting fraud and providing a frictionless customer experience.
Manual review teams’ work skyrockets during the holiday season, with 49% of respondents’ queues volume increasing 25% or more.
It’s their job to get orders pushed through as quickly as possible, while also being accurate. 78% have up to 5 minutes to review a transaction, with the most common being 2.5-5 minutes. But they can’t do it on their own, they need help. On average, 70% of companies use 3 or more tools to help make this process smoother.
Pro Insight is the best manual review solution on the market and helps consolidate the number of tools your manual review teams need to use. The things our customers love most about Pro Insight:
- 58% said they rely on our Confidence Score
- 66% said they reply on our positive and negative signals to help determine the riskiness of a transaction
- On average, 57% of teams use Pro Insight with 72% of small teams taking advantage of our solution daily
To learn more, download the full Holiday Prep Infographic.