E-Goi’s Fraud Challenges
As E-Goi rapidly grew, they suffered from a surge in bad users. Fraudsters used their automation tool to send batch phishing emails and acquire personal information. These criminals would sign in with fake credentials and stolen credit card information, which cost E-Goi on chargeback fees and also damaged their reputation.
Filtering out all these fraudulent users meant hours of manual review per week for E-Goi, and worse, it slowed down the customer experience, hurting the company’s onboarding process for legitimate customers.
After we suffered a surge in fraud, our immediate reaction was to manually check every new user. This was almost bulletproof, but the experience for the customer was terrible and it required a lot of manual work.
Filtering out bad individuals was therefore the number one high priority for E-Goi’s business plan. Unfortunately, this meant increasing manual reviews, which was costly for the company, in terms of time, resources and budget.
How SEON Impacted Fraud
E-Goi began researching fraud prevention tools. They had very clear requirements, which included a user reputation analysis based on IP and email address, something very few platforms offered except SEON.
We wanted a solution that was easy to test, had transparent scoring and was highly customizable. It also needed to analyze user reputation based on email address and IP. SEON covered all those needs and more by having a dedicated support team and a good price.
Implement our solution within 30 days to improve revenue, leverage real-time digital foot printing to quickly identify fraudsters.
Results of the implementation
Reduced manual validation work by
Slashed chargeback fees by
Cut down fraud volume by
After implementing the SEON engine, E-Goi managed to save dozens of hours a month in manual validation. They can now block bad users without being victims of large chargeback fees, and without losing revenue due to unsatisfied customers. The numbers were immediately noticeable.
More importantly, E-Goi are now confident that they have become a lower priority target of the fraud community. Quite simply, using SEON as a powerful defense system also proved to be an excellent offense strategy against fraudsters in the long term.
(For more information about E-Goi, please visit www.e-goi.com)
Product Lead, E-Goi