Failing fraud protection technology,
Beauty & Cosmetics
CurrentBody is the electrical beauty device company spearheading one of the fastest growing trends in the world of beauty. Today CurrentBody supplies the largest selection of at-home, clinically-proven electrical beauty device products in the world. CurrentBody leverages Signifyd’s Commerce Protection Platform for Fraud Protection and Abuse Prevention.
“Since we became Signifyd customers, our business has expanded into the Netherlands, Sweden and Denmark. With Signifyd, there was not even a learning period in these regions. Typically, you would expect to see a dip in approval rates, but we were able to hit the ground running. We maintained an above 98% approval rate from day one in all three.”
CurrentBody’s existing fraud protection provider could not keep up as the beauty device retailer expanded into an increasing number of new territories and the problem of unauthorized resellers began to mount.
CurrentBody replaced their existing fraud solution with Signifyd, the only provider with a machine learning model sophisticated enough to identify good orders with unusual characteristics, which were common for CurrentBody.
CurrentBody increased its approval rate from 93% to over 98% and lowered their chargebacks rate from .5% to .04% while expanding into six new regions with the help of Signifyd. The time CurrentBody spends reviewing orders decreased significantly, from 20 hours a week down to one to four on average.