Spot a Risky Customer Before They Strike

In the dynamic world of e-commerce, staying ahead of fraudulent activities is paramount for online merchants. It’s also extremely difficult. One of the most prominent challenges merchants face is proactively identifying and stopping fraudsters before they inflict any damage.

Stopping fraud proactively has obvious benefits: less time spent dealing with complicated cases, less reliance on products like chargeback insurance, and perhaps most importantly - improved peace of mind.

That’s why we’ve spent so much time developing our Browsing Behavioural Analysis solution; to arm retailers with the ability to detect and prevent fraud, before it actually happens.

There are two parts to our solution; analysis (knowing when a bad actor is engaging with your store) and action (blocking them in real-time, to stop them in their tracks).

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Analysis

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Our Browsing Behavioural Analysis functionality goes beyond conventional fraud detection methods by meticulously monitoring and analyzing every visitor's actions across an e-commerce site. From the moment a potential customer lands on the homepage to their final checkout, Spotrisk's advanced algorithms are hard at work, scrutinizing browsing behavior and shopping patterns to identify any red flags indicative of fraudulent activity.

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Just like a seasoned security guard with years of experience, Spotrisk's Browsing Behavioural Analysis acts as a vigilant protector, watching 24/7 over your online store to safeguard it from potential threats. Let’s explore how this works in more detail:

• Browsing the Shop Floor: In a traditional retail setting, a security guard monitors customers as they navigate through the store, observing their movements and interactions. Having seen potentially hundreds of thousands of shoppers in their careers they have a natural sense for anomalous behaviour.
  
  Similarly, Spotrisk's Browsing Behavioural Analysis tracks how visitors browse through your online store, analyzing the pages they visit, the products they view, and the time spent on each page. Any anomalies or suspicious patterns are immediately flagged as a key input into Spotrisk’s risk engine. This is a major factor in how we stop bots from accessing your store - a major frustration for many merchants. Not just for the fraud, but also the impact it has on their data and analytics.
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• Choosing Items for the Cart: Just as a seasoned security guard at an expensive store pays close attention to what items shoppers bring into the changing rooms, Spotrisk's technology monitors how users interact with your product listings. From the selection of only the most expensive items, to the combinations of items added into the online cart, any deviations from typical shopping behavior are instantly flagged. For instance, if a visitor rapidly adds a large number of high-value items to their cart within a short timeframe without looking at the product images, or reading the product descriptions, it could be a red flag for potential fraud.
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• Engaging with the Checkout Process: At the point of sale, a security guard observes how customers interact with the cashier, ensuring that transactions proceed smoothly and without any threat to the business or their staff. Similarly, Spotrisk's website browsing behaviour analysis examines how shoppers engage with the checkout process on an e-commerce store. This includes analyzing the buyers input patterns across the details such as shipping and billing information entered, the selection of payment methods, and any attempts to expedite the checkout process unnaturally.

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Action

When our analysis determines a person (or bot) using your store is likely to be a bad actor, it can be configured to proactively block them from continuing. This is just one example of how Sporisk automations can do the work for you.

Summary

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By leveraging Spotrisk's Browsing Behavioural Analysis, merchants gain a powerful tool that enables them to proactively identify and mitigate fraudulent activities before they impact their business.
Just as a skilled security guard can prevent theft and ensure a safe shopping environment in a physical store, Spotrisk's advanced technology acts as a virtual guardian, providing peace of mind to online merchants and enhancing the overall security of their e-commerce operations.

Spotrisk's Browsing Behavioural Analysis offers merchants a proactive solution that harnesses the power of data analytics to identify and thwart fraudulent activities in real-time. By embracing this innovative technology, merchants can safeguard their online stores and provide a secure shopping experience for their customers.

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