Sift uses machine learning models to proactively prevent account takeover, payment fraud, scam content, and chargebacks. Its services are divided into:
Account Defense stops account takeover attacks. Appropriate use of two-factor authentication and security notifications protects your users without introducing unnecessary friction.
Payment Protection reduces risk and grows revenue. Includes a user-friendly dashboard to track and manage key metrics, the ability to add criteria that automates the blocking or accepting of transactions, and a monitor for identifying false-positive rates.
Dispute Management reduces chargebacks and automates disputes. Sift automatically selects relevant evidence based on industry, chargeback reason code, and applicable modifiers to generate a comprehensive dispute response.
Content Integrity protects users from spam and scams. Sift uses analysis of thousands of signals (e.g. timing, sequence and velocity of behavior) to flag malicious content.
3D Secure Authentication usually allows marketplaces to shift liability from their platform to the issuing bank. Unfortunately, not all banks support 3D Secure authentication. Instead of refusing those transactions we implemented Sift’s Dispute Management service. This allows our clients to greatly decrease the number of disputes and chargebacks.
DoorDash, a food delivery marketplace, was suffering from fraudsters that were using stolen credit cards. They had to refund victims when they disputed the charges, resulting in thousands of dollars in daily losses.
DoorDash managed to dramatically reduce losses by using Sift’s Payment Protection product. Its real-time machine learning and global data network helped them to proactively block fraudsters, while real-time reports helped them to automate transaction reviews.
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