The future of retail post-pandemic has brought to light an undeniable reality: investment in anti-fraud technology has ceased to be a luxury and has become a strategic necessity for e-commerce businesses that wish to survive and thrive in an increasingly competitive market. With the exponential growth of online shopping and the evolution of consumer behavior, companies are being challenged to adopt advanced technological solutions to remain secure and profitable.
This was one of the central themes of the Flow Connect São Paulo 2024 event, that brought together industry experts discussing how the pandemic accelerated the adoption of technologies such as AI and machine learning, forcing companies to adapt quickly. One of the most highlighted points, addressed by speakers from different companies, it was the need to ensure the profitability of operations, what is only possible with the implementation of technological solutions that optimize processes, from customer service and offer personalization to automated data analysis for fraud prevention
Some of the most common tactics used by fraudsters today reflect not only the increase in fraudulent activity, but also the diversification and sophistication employed by criminal fraud networks reinforce the urgency for smarter tools to efficiently protect e-commerce
- Credit cardthe use of stolen card information to make purchases on e-commerce sites is not a novelty, but continues to grow due to the expansion of techniques to obtain this informationphishing, vishing, smishing, pharming, data purchase in thedark weband others
- Bot Attack – Thebotsare programmed to test thousands of stolen credit cards and make consecutive purchase attempts
- Friendly fraudthe consumer claims that they did not authorize the purchase and requests a refund from their bank. Can, inclusive, happen due to a misunderstanding and not necessarily be a malicious action but, for dealing with a fraud committed by a consumer, detecting and protecting oneself against this type of fraud becomes more complex.
- Invasão/apropriação de contas (Account Take Over): unauthorized access to legitimate user accounts in e-commerce stores, to make fraudulent purchases taking advantage of the data contained in these profiles
- "Sites semelhantes"fake sites that simulate legitimate portals to steal users' data and information
In this new scenario, tools like those from Signifyd have played a key role in providing aplatformthat uses AI to analyze each transaction automatically, identifying suspicious behavior patterns in real time. This allows blocking fraud before it happens and ensures that retailers avoid financial losses that also harm the profitability of the business.
Furthermore, the agility and superior analytical capability of AI enable smoother shopping experiences, common friction books on this journey – such delays in approval or errors in the anti-fraud screening that result in improperly denied purchases, what directly contributes to the increase in conversions and customer loyalty.
Future Projections
Experts predict that in the next two to three years, the demand for technologies that improve the efficiency and competitiveness of e-commerce is only expected to grow. Therefore, the recommendation to rely on specialized strategic partners, that facilitate the adoption of this cutting-edge technology in business, echoing ever stronger. It is the case of AI, what will be essential for companies that wish to maintain a competitive advantage, especially in a market that is constantly evolving. In this context, Signifyd is an ally of e-commerce businesses that seek not only to survive, but also lead the digital transformation in retail
Investing in technology is no longer an option, it is a necessity for any e-commerce that wants to ensure its longevity in the market, says Gabriel Vecchia, Senior Commercial Director of Signifyd Brazil
