SAN FRANCISCO, April 27, 2021 (GLOBE NEWSWIRE) -- Sift, the leader in Digital Trust & Safety, today announced several new enhancements to its Digital Trust & Safety Suite that allow Adobe Commerce and Magento Open Source merchants to confidently grow their e-commerce businesses with improved protection against payment fraud and account takeover (ATO). Building on the Sift extension currently available in the Magento Marketplace, new Workflows Replay, Security Notifications, and Chargeback Management integrations enable merchants to optimize operations, minimize losses, and maximize revenue.
Fraudsters are capitalizing on the explosive growth of digital commerce in the wake of COVID-19, leveraging both new and proven tactics to extract, sell, and use payment information to steal from merchants and consumers. This vast, crowded, and interconnected network is known as the Fraud Economy, and its impact on businesses and their customers is staggering.
Yet fraud teams are often stretched thin, with limited resources, disparate systems and technologies, and ineffective operations, leaving massive blind spots in their fraud monitoring and prevention approaches––and revealing opportunities for fraudsters to attack. Sift’s new capabilities provide merchants using Sift’s Adobe Commerce and Magento Open Source extension with higher levels of accuracy, automation, and orchestration required to mitigate risk and drive revenue.
“At the onset of the COVID-19 pandemic, online merchants were already facing an array of threats from bad actors looking to steal from them,” said Geoff Huang, VP of Product at Sift. “Now, amid the e-commerce boom, the Fraud Economy has become more robust and sophisticated. The new capabilities in Sift’s Digital Trust & Safety Suite provide Adobe Commerce and Magento Open Source merchants with the visibility and control they need to prevent fraud and enable growth.”
New features include:
- Workflows Replay: Adobe Commerce and Magento Open Source merchants can easily visualize the effectiveness and impact of business logic to make more informed decisions. Without needing to leave Workflows in the Sift Console, users gain the visibility required to ensure accurate automation stops fraud, minimizes unnecessary manual review, and reduces friction to increase conversions. Later this year, analysts will also be able to test hypothetical changes, comparing the impact of those changes against historical data before modifying a live workflow.
- No-code Security Notifications: This industry-first feature allows teams to confirm if a risky login event was an account takeover (ATO) attempt. As an addition to Sift’s Account Defense product, Security Notifications provide a built-in email solution that leverages Sift’s global network to identify ATO cases, and prompts password resets for compromised accounts. Through notifications, the feature builds user trust, protects accounts, and trains customers’ ATO models at scale––all without requiring customers to write a single line of code.
- Chargeback Management Integrations: Available via the Sift Connect App Gallery, merchants on Adobe Commerce and Magento Open Source can automate chargeback disputes via pre-built integrations with leading chargeback management vendors. By leveraging these integrations, businesses are able to eliminate the manual processing of chargebacks and increase revenue recovery without increasing operational costs.
More information on Sift’s Adobe Commerce and Magento Open Source extension can be found here: https://sift.com/magento.
About Sift
Sift is the leader in Digital Trust & Safety, empowering digital disruptors to Fortune 500 companies to unlock new revenue without risk. Sift dynamically prevents fraud and abuse through industry-leading technology and expertise, an unrivaled global data network of 70 billion events per month, and a commitment to long-term customer partnerships. Global brands such as Twitter, Airbnb, and Twilio rely on Sift to gain competitive advantage in their markets. Visit us at sift.com and follow us on Twitter @GetSift.
Media Contact
Victor White
Director of Corporate Communications, Sift
vwhite@siftscience.com