We look to answer all questions you have about the differences between SEON and Riskified with a detailed product feature breakdown as well as an easy to understand conclusion.
Disclaimer: Everything written about the companies mentioned in this article was gleaned from online research including user reviews. We did not have time to manually test all the tools. However, we ensured the information was correct as of Summer 2021. Feel free to contact us to request an update/correction.
Riskified is a fellow fraud-fighting organisation that realised the legacy nature of old approaches and decided to take action.
With headquarters in New York and Tel Aviv, the firm was created by Eido Gal and Assaf Feldman in 2013 and initially focused on improving eCommerce security due to the rapid development of online shopping. Clients include Gymshark, REVOLVE, Wish, Canada Goose and Peloton.
Riskified first began as a fraud solution, looking to support merchants to approve orders they would previously have declined. The company recently filed for an initial public offering (IPO).
- Policy Protect acts as Riskified’s answer to bonus abuse, basing automated decisions on data such as a user’s abuse history, lifetime spend and the value of the claim.
- Account Secure prevents account takeover (ATO) attacks by comparing the current session to previous behaviour signals by the genuine account owner, to then provide an ‘allow/notify/challenge’ decision.
- The newly updated Deco product is a payment authorization solution that uses hundreds of data points across Riskified’s cross-merchant network to dictate if the transaction is honest.
Pros of Riskified
- Blackbox AI removes much of the work from the merchant, automatically providing a decision in real-time.
- Strong experience of working with enterprise eCommerce retailers.
- A clear distinction between each of their core products.
Cons of Riskified
- Whilst they possess masses of data through their merchant network, Riskified offers no live data enrichment capabilities which could reveal less focus on manual reviews, more on automation.
- No social media lookup availability.
- Lesser machine learning suggestions than other products.
- Lack of transparency on pricing.
SEON Vs Riskified Features Comparison Table
|Email data enrichment||Yes||No|
|Phone data enrichment||Yes||No|
|Find user social media||Yes, checks 35+ platforms||No|
|BIN for transaction||Yes||Yes|
|Behaviour tracking||Yes, via custom rules||Yes|
|User authentication||Via cookie and browser hash||Yes via Account Secure|
|Machine learning suggestions||Yes||Yes|
|Industry preset rules||Yes||Yes|
|Integration / deployment|
|Custom API fields||Yes||Yes|
|Integration with other tools||Yes, via Zapier||No|
|Cost per month||€300||N/A|
Where SEON Wins Over Riskified
- We provide the option for a multi-layered approach through the availability of modular APIs including our proprietary solution, the SEON Intelligence Tool.
- SEON provides real-time social media lookups through both email and phone data points, using data enrichment to give further insight into the customer in question by presenting their online profiles/footprint.
- Through our Sense Platform, our customer success team that is made of former fraud managers work with our clients on machine learning suggestions suited to your business demands.
- Operating with a chargeback guarantee model can raise more issues surrounding false positives.
Where Riskified Wins Over SEON
- Having targeted eCommerce since its launch, the company has a fraud prevention product suited directly for high volume, enterprise retail merchants.
- Heightened focus on larger retailers gives experience and knowledge of exactly what large scale merchants want in the fraud prevention system.
- The chargeback guarantee model is good for those that don’t want to think about the risks as they will cover the costs, giving large scale eCommerce businesses the opportunity to focus elsewhere.
- Deco acts as an advantage for large scale retailers who are susceptible to denials from payment gateways.
SEON vs Riskified Conclusion
Choose SEON If:
You are seeking a flexible approach that focuses on ensuring that every transaction is judged correctly, leaving less room for false declines.
Choose Riskified If:
You are looking for products that specifically tailor to eCommerce and are looking for a solution that handles chargebacks with minimal input from the merchant side.