The future of post-pandemic retail has brought to light an undeniable reality: investing in anti-fraud technology is no longer a luxury but has become a strategic necessity for e-commerce businesses that want to survive and thrive in an increasingly competitive market. With the exponential growth of online shopping and the evolution of consumer behavior, companies are being challenged to adopt advanced technological solutions to stay secure and profitable.
This was one of the central themes of the Flow Connect São Paulo 2024 event, which brought together industry experts to discuss how the pandemic accelerated the adoption of technologies like AI and machine learning, forcing companies to adapt quickly. One of the most highlighted points, discussed by speakers from different companies, was the need to ensure the profitability of operations, which is only possible with the implementation of technological solutions that optimize processes, from customer service and offer personalization to automated data analysis for fraud prevention.
Some of the most common tactics used by fraudsters today reflect not only the increase in fraudulent activity, but also the diversification and sophistication employed by criminal fraud networks and reinforce the urgency of smarter tools to effectively protect e-commerce:
- Credit card:The use of stolen card information to make purchases on e-commerce sites is not new, but it continues to grow due to the expansion of techniques to obtain this information:phishing, vishing, smishing, pharming, data purchase ondark web and others.
- Bot Attack –Youbotsare programmed to test thousands of stolen credit cards and make consecutive purchase attempts.
- Friendly Fraud:The consumer claims they did not authorize the purchase and requests a refund from their bank. It can, in fact, happen due to a confusion and not necessarily be an intentionally malicious action, but because it involves a fraud committed by a consumer, detecting and protecting against this type of fraud becomes more complex.
- Account Takeover:unauthorized access to legitimate user accounts in e-commerce stores, to make fraudulent purchases taking advantage of the data contained in these profiles.
- “Lookalike Sites”: fake websites that simulate legitimate portals to steal users' data and information.
In this new scenario, tools like Signifyd's have played a fundamental role by offering aplatformthat uses AI to automatically analyze each transaction, identifying suspicious behavior patterns in real time. This allows blocking fraud before it happens and ensures that retailers avoid financial losses that also harm the profitability of the business.
Furthermore, the superior agility and analytical capability of AI enable smoother shopping experiences, free from common friction points in this journey – such as approval delays or errors in anti-fraud screening that result in unjustified purchase denials, which directly contribute to increased conversions and customer loyalty.
Future Projections
Specialists predict that in the next two to three years, the demand for technologies that improve the efficiency and competitiveness of e-commerce will only continue to grow. Therefore, the recommendation to rely on specialized strategic partners, who facilitate the adoption of this cutting-edge technology in business, is resonating more and more. This is the case with AI, which will be indispensable for companies that want to maintain a competitive advantage, especially in a market that is constantly evolving. In this context, Signifyd is an ally of e-commerce businesses that seek not only to survive but also to lead digital transformation in retail.
“Investing in technology is no longer an option, it is a necessity for any e-commerce that wants to guarantee its longevity in the market”, says Gabriel Vecchia, Senior Commercial Director at Signifyd Brazil.
