Aite Group Names Signifyd the Market Leader in Guaranteed Chargeback Protection
Technology research and advisory firm Aite Group named Signifyd the market's best commerce protection provider among those offering chargeback guarantees, citing its innovative machine-learning, its high order approval rates, its superior management services for fraud and non-fraud chargebacks and its vast network of clients that serves to constantly improve its solutions' performance.
Signifyd, a pioneer in the guarantee space, ranked ahead of the six other key players in Aite's Chargeback Guarantee Vendors matrix. The rankings were based on a head-to-head, in-depth analysis by the independent research firm, which included product reviews, demonstrations, customer interviews and evaluations of key performance metrics of each vendor.
In fact, there was a considerable gap in rankings between Signifyd and the other participants, which included Riskified, Accertify, Bolt, ClearSale, Vesta and Apruvd.
"We're pleased to be recognized as best-in-class by the Aite Group," Signifyd CEO Raj Ramanand said. "This recognition is a reflection of the fact that we are constantly innovating while also improving upon our existing products to ensure that our customers can practice fearless commerce - increasing their efficiency and raising their conversion rates while limiting their risk. This should make the crucial choice of a fraud and abuse prevention vendor a much easier one for the ecommerce market."
Signifyd co-founders Ramanand and Michael Liberty entered the fraud protection and chargeback guarantee space because they thought it unfair that merchants should have to bear the considerable financialrisk fraud presents. After all, retailers and brands didn't launch their enterprises in order to become fraud experts.
Aite Group's top ranking is further proof that their vision and execution were on the mark.
"Clients are very pleased with Signifyd's performance and service," the advisory firm wrote in its Aite Matrix: Global Chargeback Guarantee Vendors. "They receive high marks in terms of strong partnership, great to work with, high approval rates. One client, having used other chargeback guarantee solutions, is very pleased with the performance it receives from Signifyd and has found it to be among the best."
Another client, the report continued, turned to Signifyd after it found itself in the excessive fraud chargeback program of a major card network. Within a month of launching Signifyd's solution, Aite wrote, the merchant was off the list and had lowered its fraud rate from more than 100 basis points to 10 basis points.
"Signifyd's machine-learning-first approach and extensive consortium data from thousands of merchants has allowed it to offer a very strong fraud protection and service to its customers, allowing them to realize increased revenue," said Aite Group Senior Analyst David Mattei. "Its strong roadmap and planned new features and products have the potential to keep Signifyd at the top of the chargeback guarantee space for years to come."
Aite placed Signifyd No. 1 after a deep analysis of the stability of its business, the strength of its customer base, the products and features that it offers and will offer in the future and the client services that it provides.
All those factors play into the success of Signifyd's Commerce Protection Platform, which consists of:
Read the full Aite Matrix: Global Chargeback Guarantee Vendors report.
Signifyd provides an end-to-end Commerce Protection Platform that leverages its Commerce Network to maximize conversion, automate customer experience and eliminate fraud and abuse for retailers. Signifyd counts among its customers a number of companies on the Fortune 1000 and Internet Retailer Top 500 lists. Signifyd is headquartered in San Jose, CA (News - Alert)., with locations in Denver, New York, Belfast and London.