Case Study: How doxo Reduced Chargeback Fraud and Streamlined Manual Review with Sift
Key results
The challenge
doxo, an all-in-one bill payment platform, faced an ever-evolving threat of online fraud that posed significant risks to both its customers and the business. Fraudsters continuously learned and evolved their behavior, often targeting specific vectors to extract money. The team needed an adaptable, scalable fraud solution that could reduce chargebacks without heavy manual effort.
The solution
doxo selected Sift as its risk decisioning platform and used Sift's payment fraud solution with customized Workflows focused on the areas of highest vulnerability. This proactive approach let the team investigate and shut down fraudsters before fraudulent transactions occurred, while minimizing manual review.
“As doxo has grown, Sift has scaled with us and tackled new fraud threats before they ever hit our business.”
TSTaylor SnyderManager of Risk & Compliance, doxo
The results, in context
doxo reports a 10x return on investment from Sift's payment fraud solution, along with a 1.3% average manual review rate and a chargeback win rate of about 80%. In 2023 the company recorded an accepted payment fraud rate of 0.18 BPS (0.0018%), with only 34 chargebacks identified as legitimate fraud out of nearly six million payments processed.