The FiloBlu Risk Manager has been telling us about the intergrated job done by the Team Payment to block attempted fraud on the stores managed by FiloBlu.
How does the Team Payment and Risk Manger operate within FiloBlu?
The team within FiloBlu is made up of three specialist elements that are completely dedicated to everything regarding payments: a technical element, that looks after any alterations or extensions that are made on the payment platform; an element dedicated to the prevention and resolution of any risks that could influence the flow of the entire business; and finally the accounting element that takes care of the contracts and relationship with suppliers and payment methods.
At what point during the creation of the online store does the Risk Manager need to intervene?
The Risk Manager enters the project together with the Project Manager, therefore well before the e-commerce site is launched online. These two figures work together together to analyse and detect the strengths and types of markets in order to propose the payment methods best suited to supporting sales on the basis of consumer habits in any particular nation.
Once the platform has been launched online, it is passed into ongoing management and prevention of fraud.
What is a typical day for a Risk Manager like?
The primary objective of the Risk Manager is to maximise sales and minimise fraud.
This figure verifies payments on a daily basis, examines the suspect cases and operates in a proactive manner searching for methods and solutions that could enhance the project in terms of payment management. These are then developed, from the technical point of view, at the backend of the platform by the technical sector of the Payment Team.
Furthermore, when the e-commerce site is fully functioning, the Risk Manager goes on monitoring and analysing the markets that it is operating in, with the aim of pinpointing the areas of biggest growth and verifying its effectiveness and flow.
This work leads to the compliation of highly accurate reports that aim to measure the payment methods in use in terms of conversion.
How do you prevent fraud?
There are many different methods of payment, that are measurably more or less subject to fraud.
The payment platform Adyen, the world leader in e-commerce material, offers a control panel with tools that, through the parameters set-up as a result of the joint work by the Risk Manager, Project Manager and Online Store Manager, allows the users to operate during the purchase phase, while identifying and blocking the false positives in any suspicious cases.
After carrying out further checks, the Risk Manger can then decide whether or not to authorise the transaction.
The transaction check is an operation that is repeated on a daily basis, and reviewed monthly according to the performance of the online store.