High Decline Rate, Revenue Optimization
Mango, the clothing design and manufacturing company founded in the heart of Barcelona, provides a unique and personal style to fashionistas around the world. Signifyd helps Mango accept good orders that would have otherwise been declined, lifting total revenue and tapping into a new pool of customer lifetime value.
“Fraudsters know you are looking for specific behaviors and what they do is increasingly resemble legitimate clients, therefore, if you only know what a shopper does within your business you are missing a part of the movie. And to see the full movie, machine learning tools and agile providers like Signifyd, and, above all, a great team constantly monitoring this data is key.”
Carlos Madrona, Head of Online Fraud, Mango
With the high cost of customer acquisition and lifetime value driven by repeat customers, it is essential for Mango to convert every legitimate customer at checkout. When international growth sparked an increase in false declines by their incumbent fraud solution, Mango decided to re-engineer their strategy.
Mango routes previously declined traffic to Signifyd for a second opinion. Thanks to a global network of more than 10,000 merchants and insights into billions of dollars of transaction data, Signifyd confidently approves a huge number of Mango’s orders that would otherwise have been declined.
Signifyd has been able to consistently approve over 60% of orders that were being declined by the incumbent solution, resulting in a 6% uplift in approved GMV. Because each order approved by Signifyd comes with a 100% chargeback guarantee, the additional revenue also comes with zero risk to Mango.