Industry

Retail

The Challenge:

A major U.S.-based retailer wanted to build a strong back-office order verification team to augment its effectiveness at preventing fraud. Teams must:

Filter, review, and assess potential orders pre-identified as potential fraud
Be adept at identifying special fraud efforts related to gift cards and chargebacks
Continually monitor fraudulent activity and refine prevention processes

The Solution:

Over 7+ years, ResultsCX has become an innovative partner in preventing fraud for this retail client:

Creating a specialized candidate profile so that team employees are extremely effective in identifying and stopping fraud
Establishing an extremely skilled Philippines-based back office team that deeply understands client’s processes and cybersecurity environment
Nearly doubling the order verification team during peak retail season every year to ensure transactions are monitored in real-time
Recommending technology and tool upgrades for faster approvals and decisions, especially during volume spikes

The Results:

Over time the deeply client-embedded Order Verification Team has become extremely effective at identifying and preventing fraud:

98% decision accuracy, above goal
98% catch rate for fraudulent efforts, outperforming the internal team (95% catch rate)
$3 million saved annually for client’s bottom line
Progressed from 1% to .05% held rate for orders requiring manual review, demonstrating faster and more automated approval/disapproval of website transactions
Regular queue expanded to handle special projects queue, including secondary review for high dollar amount and trended purchases, cleaning up the orders link/fraud types and resolution, charge back third party cards, gift card irregularities, and bulk order fraud review