BUSINESS PROFILE

Tell us a bit more about your business and how it started .

Signifyd , like so many businesses , started in response to an issue that hadn ’ t yet been addressed : many of us have had our credit card unexpectedly declined . That ’ s often because a merchant or a bank assumes that an unusual charge is fraudulent . Since retailers take the loss for online fraud , they turn away many legitimate orders and lose a lot of revenue .

In response to this , Signifyd developed an end-to-end Commerce Protection Platform that leverages its Commerce Network of thousands of merchants , to determine whether an order is good or fraudulent . We ensure that retailers don ’ t turn away good orders – increasing approvals by 6 % to 9 % – while protecting them from fraud .

How has the business grown since it started and how did you ensure growth ?

Since Signifyd was founded in 2011 , our growth has come from our innovation – e-commerce is a growing industry , accounting for 20 % of total retail sales in 2022 and is set to grow to 24 % by 2026 . As we ’ ve grown , so has our merchant network which means we have good insights as to the sector and challenges facing our customers , setting us ahead of the curve and enabling us to grow in tandem with the industry .

What ’ s the business ’ approach to management ?

We are truly global , with offices in Belfast , London , Sao Paulo and across North America . Our goal is to form a diverse and ever-expanding team of experts in e-commerce and security and to become the foremost authority in commerce protection .

What is your company ’ s vision and goal ?

Thinking back on the founding mission of the business , Signifyd ’ s aim is really simple : to develop and use technology to provide retailers with a seamless payment system while also protecting them from fraud . By offering this balance , we ’ re aiming to build confidence and trust between consumers and retailers .

Signifyd leverages Big Data , Machine Learning and expert manual review to provide a financial guarantee against fraud on approved orders . Nikhita Hyett , General Manager , EMEA , Signifyd , tells us more about the company and her career up to this point .

What kind of clients and market do you serve ?

As the leading commerce protection provider , our focus is very much to support retailers and their customers . We also serve Payment Service Providers ( PSPs ), using our vast merchant data network to ensure they are able to properly review , verify and approve transactions .

34 www . intelligentcxo . com