Before bringing Kount on board, Hydrobuilder began experiencing significant increases in fraud attempts, which forced them to conduct more and more manual reviews. As a startup company with less than 15 employees, the need to streamline the fraud prevention process and keep overhead down was crucial. Kount turned things around for Hydrobuilder.com. Fraud was reduced, the number of manual reviews were slashed, and fewer orders were wrongly declined on suspicion of fraud.
Our chargeback rate dropped from 0.47% to 0.05%, losses from fraud went down 70%, chargeback dollar amounts decreased 79%, our decline rate dropped from 10% to 4.49% – which means we’re approving more orders – and now I’m the only person conducting manual reviews.
Brittaney Cox, Director of Internal Resources