International research and consulting firm Frost & Sullivan named Signifyd its Global Growth Excellence Frost Radar Award winner this week, citing the company’s unparalleled benefits, “such as reduced declines, elastic capacity, merchant protection from chargeback and consumer-abuse prevention for larger enterprises.”
The honor comes the same week analyst firm CB Insights named Signifyd to its Retail Tech 100, a list of the companies producing the world’s most promising retail technology.
In singling out Signifyd as the company that “has developed an innovative element in a product by leveraging leading-edge technologies,” Frost & Sullivan noted Signifyd’s leadership in the guaranteed fraud protection space and highlighted Signifyd’s consistent dedication to empowering fearless commerce.
“By enabling customers to eliminate friction in the consumer buying experience, its key solutions, including Revenue Protection, Abuse Prevention and Payments Optimization, have greatly helped its customers increase revenue and customer lifetime value,” Frost & Sullivan said in announcing the award.
- Frost & Sullivan honored Signifyd for being a global growth leader by innovating and leveraging leading-edge technologies to help enterprises manage fraud and abuse.
- CB Insights placed Signifyd on its Retail Tech 100 list, a group of technology leaders defined by strong teams, wide adoption, good business relationships, strong funding history and top investors.
- The technology that Signifyd has developed and continues to develop will be key to the future success of retailers in a rapidly evolving world.
Signifyd is primed for future growth
Those solutions and Signifyd’s core philosophy place it in a powerful position moving forward, said Frost & Sullivan Industry Research Director Vikrant Gandhi.
“The rising retailer demand for customizable guaranteed Merchant Fraud Prevention is expected to translate to greater opportunities for Signifyd,” noted Gandhi. “Newly introduced business policy management and authorization optimization products will further allow it to tap into the enterprise online fraud prevention solutions markets and achieve long-term growth.”
For its part, CB Insights said it selected Signifyd for its Retail Tech list from among 15,000 nominees and applicants based on a long list of factors, including tech novelty, team strength, industry adoption, business relationships, funding history and strength of investors.
Needless to say, 2020 has been a challenging year for retail and ecommerce. Signifyd worked with its customers to overcome those challenges, launching its Commerce Protection Platform, Decision Center and Business Continuity Package, which provided tools for merchants to manage the sudden shift to remote work caused by the pandemic.
Signifyd’s customers saw massive online growth in 2020
The company also helped retailers manage a massive increase in online orders prompted by physical store closings and consumers’ reluctance to venture out to shop. Beginning early in the pandemic, retailers began seeing order spikes rivaling the holiday shopping season — but without the advantage of knowing those spikes were coming. Exceptionally high order volumes have continued. In November, sales on Signifyd’s Commerce Network were up 56% year over year in Europe and 52% in the United States.
COVID-19 and the changes in consumer behavior it’s rendered have made it clear that the future of retail will be built around online shopping — whether those orders are delivered, picked up in a store or picked up at a curb. This week’s global growth and retail tech honors from Frost & Sullivan and CB Insights are a strong indication that Signifyd will be among those at the center of that historic shift.
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