Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and offer key insights into the future of fintech.
Signifyd: Achieving growth through partnerships
“We’ve been partnered with Adobe Commerce for several years now,” says Wyatt, “but we’ve recently launched an integration with Adobe Payment Services.”
He continues: “This means any client of Adobe Payment Services, either on Adobe Commerce or Magento Open Source, can now easily integrate with Signifyd too.
“We are now positioned as a straightforward implementation option for Adobe and Magento’s clients, which is great for our growth plans.
“Unlike traditional fraud solutions that leverage rules and all kinds of different methodologies, our machine learning and commerce network allows us to see a lot of merchants across tens of thousands of different merchant websites.
“What that allows us to do is confidently approve more transactions vs traditional fraud solutions that are just looking at an individual client's data points.”
Signifyd has not just been focused on growing its partner network, it has also been identifying ways it can further support merchants.
As Wyatt notes: “One of the ways we are looking to support merchants is to help them reduce losses from returns abuse. This is a growing problem for many merchants.
“We have access to all the data that we need to inform them when they should or should not allow various types of return policies or return methods.
“So if somebody is particularly risky, they might ask them to return a product to a physical location. This is where our focus will be over the next couple of years.”
For more from Wyatt and Signifyd, you can click on the video link above.
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