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Riskified Pros and Cons: Top 5 Advantages and Disadvantages

Quick AI Summary Based on G2 Reviews

Generated from real user reviews

Users appreciate the efficiency of Riskified in minimizing risk and enhancing transaction approvals, ensuring smoother operations. (5 mentions)
Users value Riskified's effective fraud detection, ensuring safety and reducing chargeback rates significantly in transactions. (4 mentions)
Users value the effective fraud prevention by Riskified, significantly reducing chargebacks and enhancing transaction approvals. (4 mentions)
Users value the comprehensive risk management features of Riskified, enhancing order approval legitimacy and minimizing fraud. (2 mentions)
Users praise Riskified for its accuracy in chargeback processing, enhancing financial clarity and reducing fraud effectively. (1 mentions)
Users find Riskified's pricing expensive, making it challenging for small companies to justify the investment. (2 mentions)
Users report frequent false positives with Riskified, causing confusion and potential business failures due to transaction misidentification. (2 mentions)
Users experience lack of clarity in Riskified’s decisions, leading to difficulties in managing fraudulent charge assessments. (2 mentions)
Users highlight false alarms that incorrectly flag secure transactions, causing confusion and frustration for small companies. (1 mentions)
Users face challenges with ineffective fraud detection, leading to potential business failures and lack of transparency in decisions. (1 mentions)

5 Pros or Advantages of Riskified

1. Efficiency
Users appreciate the efficiency of Riskified in minimizing risk and enhancing transaction approvals, ensuring smoother operations.
See 5 mentions

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NAITO Kimiaki .
N

NAITO Kimiaki .

Enterprise (> 1000 emp.)

3.5/5

"Great for Reducing Chargebacks, Needs Better Support for Japan Market"

What do you like about Riskified?

The platform delivers excellent performance when it comes to preventing payment abuse. I have noticed a significant reduction in chargeback rates, and

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Insights Concerning Fraud Detection and Compliance, Merits and Hiccups"

What do you like about Riskified?

Riskifield is brilliant in learning or identifying transactions that are fraudulent and illegitimate The tool declines merchants that issue false in

2. Fraud Detection
Users value Riskified's effective fraud detection, ensuring safety and reducing chargeback rates significantly in transactions.
See 4 mentions

See Related User Reviews

NAITO Kimiaki .
N

NAITO Kimiaki .

Enterprise (> 1000 emp.)

3.5/5

"Great for Reducing Chargebacks, Needs Better Support for Japan Market"

What do you like about Riskified?

The platform delivers excellent performance when it comes to preventing payment abuse. I have noticed a significant reduction in chargeback rates, and

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Insights Concerning Fraud Detection and Compliance, Merits and Hiccups"

What do you like about Riskified?

Riskifield is brilliant in learning or identifying transactions that are fraudulent and illegitimate The tool declines merchants that issue false in

3. Fraud Prevention
Users value the effective fraud prevention by Riskified, significantly reducing chargebacks and enhancing transaction approvals.
See 4 mentions

See Related User Reviews

NAITO Kimiaki .
N

NAITO Kimiaki .

Enterprise (> 1000 emp.)

3.5/5

"Great for Reducing Chargebacks, Needs Better Support for Japan Market"

What do you like about Riskified?

The platform delivers excellent performance when it comes to preventing payment abuse. I have noticed a significant reduction in chargeback rates, and

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Insights Concerning Fraud Detection and Compliance, Merits and Hiccups"

What do you like about Riskified?

Riskifield is brilliant in learning or identifying transactions that are fraudulent and illegitimate The tool declines merchants that issue false in

4. Risk Management
Users value the comprehensive risk management features of Riskified, enhancing order approval legitimacy and minimizing fraud.
See 2 mentions

See Related User Reviews

KB

Katie B.

Small-Business (50 or fewer emp.)

4.0/5

"A good tool to have in your back pocket"

What do you like about Riskified?

Riskified is a really helpful tool to minimise risk on sales orders. It's always clear without deep diving why an order was rejected and gives you the

IE

Ifeoma E.

Mid-Market (51-1000 emp.)

4.5/5

"Strong Fraud Protection, But Needs More Transparent Decision-Making"

What do you like about Riskified?

Riskifield helps in matters chargeback, where in case approve and pay an order and some issues happen, a chargeback is a must The software has a vers

5. Accuracy
Users praise Riskified for its accuracy in chargeback processing, enhancing financial clarity and reducing fraud effectively.
See 1 mentions

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Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Robust Fraud Prevention Approach and this Reduces Risk of Fraudulent Transactions"

What do you like about Riskified?

Riskifies helps in offering chargebacks when approval process is revoked due to fraud or unclear financial circumstances The reviewing of all financ

5 Cons or Disadvantages of Riskified

1. Expensive
Users find Riskified's pricing expensive, making it challenging for small companies to justify the investment.
See 2 mentions

See Related User Reviews

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Insights Concerning Fraud Detection and Compliance, Merits and Hiccups"

What do you dislike about Riskified?

Riskifiled has a pricey model that some firms can struggle to maintain Sometimes, Riskifield issues us opaque options or decisions due to high AI op

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Robust Fraud Prevention Approach and this Reduces Risk of Fraudulent Transactions"

What do you dislike about Riskified?

Costs price for Riskifield are high and the value for money is not well understood by small companies Sometimes, the app flags transactions that are

2. False Positives
Users report frequent false positives with Riskified, causing confusion and potential business failures due to transaction misidentification.
See 2 mentions

See Related User Reviews

IE

Ifeoma E.

Mid-Market (51-1000 emp.)

4.5/5

"Strong Fraud Protection, But Needs More Transparent Decision-Making"

What do you dislike about Riskified?

Often, the program fails to distinguish legitimate and false orders and this results to business failure The decision on fraudulent charges is not t

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Robust Fraud Prevention Approach and this Reduces Risk of Fraudulent Transactions"

What do you dislike about Riskified?

Costs price for Riskifield are high and the value for money is not well understood by small companies Sometimes, the app flags transactions that are

3. Lack of Clarity
Users experience lack of clarity in Riskified’s decisions, leading to difficulties in managing fraudulent charge assessments.
See 2 mentions

See Related User Reviews

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Insights Concerning Fraud Detection and Compliance, Merits and Hiccups"

What do you dislike about Riskified?

Riskifiled has a pricey model that some firms can struggle to maintain Sometimes, Riskifield issues us opaque options or decisions due to high AI op

IE

Ifeoma E.

Mid-Market (51-1000 emp.)

4.5/5

"Strong Fraud Protection, But Needs More Transparent Decision-Making"

What do you dislike about Riskified?

Often, the program fails to distinguish legitimate and false orders and this results to business failure The decision on fraudulent charges is not t

4. False Alarms
Users highlight false alarms that incorrectly flag secure transactions, causing confusion and frustration for small companies.
See 1 mentions

See Related User Reviews

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

4.5/5

"Riskifield; Robust Fraud Prevention Approach and this Reduces Risk of Fraudulent Transactions"

What do you dislike about Riskified?

Costs price for Riskifield are high and the value for money is not well understood by small companies Sometimes, the app flags transactions that are

5. Fraud Management
Users face challenges with ineffective fraud detection, leading to potential business failures and lack of transparency in decisions.
See 1 mentions

See Related User Reviews

IE

Ifeoma E.

Mid-Market (51-1000 emp.)

4.5/5

"Strong Fraud Protection, But Needs More Transparent Decision-Making"

What do you dislike about Riskified?

Often, the program fails to distinguish legitimate and false orders and this results to business failure The decision on fraudulent charges is not t

Riskified Reviews (218)

Reviews

Riskified Reviews (218)

4.5
218 reviews
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NAITO Kimiaki .
N
Information Security Director
Enterprise (> 1000 emp.)
"Great for Reducing Chargebacks, Needs Better Support for Japan Market"
What do you like best about Riskified?

The platform delivers excellent performance when it comes to preventing payment abuse. I have noticed a significant reduction in chargeback rates, and the approval rate has also improved. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

The product is less effective in the Japanese market. Most of the expertise behind it comes from experience in the EU and North America. In Japan, we are having difficulty adapting the AI model to suit local needs.

Also, regarding control center, it has rich for chargeback guarantee but actually not for others. Review collected by and hosted on G2.com.

IE
Operational Supervisor
Health, Wellness and Fitness
Mid-Market (51-1000 emp.)
"Strong Fraud Protection, But Needs More Transparent Decision-Making"
What do you like best about Riskified?

Riskifield helps in matters chargeback, where in case approve and pay an order and some issues happen, a chargeback is a must

The software has a versatile fraud detection system that collects diverse signals to keep us safe

The program focuses on improving the legitimacy of approving orders, and this drastically reduces possible fraudulent practices

The program is focused on global sustainability, where complex e-commerce systems that accept payments globally feel safe Review collected by and hosted on G2.com.

What do you dislike about Riskified?

Often, the program fails to distinguish legitimate and false orders and this results to business failure

The decision on fraudulent charges is not transparent and this brings high limitations Review collected by and hosted on G2.com.

KB
Customer Sales Manager
Small-Business (50 or fewer emp.)
"A good tool to have in your back pocket"
What do you like best about Riskified?

Riskified is a really helpful tool to minimise risk on sales orders. It's always clear without deep diving why an order was rejected and gives you the full breakdown to hover over if you need to. It uses a lot of different triggers such as IP, Address, Bank Details to determine a potential outcome. I use this platform daily and it's easily integrated with Shopify. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

It can be a bit slow on performance, it can take a while for the order details to load. Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Enterprise (> 1000 emp.)
"True Partnership and Commitment, But Alignment on Metrics Can Be Challenging"
What do you like best about Riskified?

They demonstrate a strong commitment and collaborate with you like true partners, making it feel as though they are an extension of your own company. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

At times, it can be difficult to reach agreements with them regarding how we measure the results. Review collected by and hosted on G2.com.

SR
Enterprise (> 1000 emp.)
"Excellent Machine Learning tool"
What do you like best about Riskified?

I have worked in the E-commerce Fraud industry for the last 9 years, working with different fraud solutions. I can 100 % say that Riskified is the best one so far. The accuracy of the decisions is impeccable, the dashboards and the tool are very user-friendly. Their chargeback guarantee model is revolutionary. From the implementation team to the account management their services are exceptional. Is a great partner to work with. It is not only a fraud tool, but also a transversal tool that will impact many areas of your company, from sales to customers' experience in the checkout.

I will highly recommend this tool to any company that wants to accurately fight fraud. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

There is nothing bad I will say about Riskified. Review collected by and hosted on G2.com.

Sam  C.
SC
Fraud Prevention Mgr
Mid-Market (51-1000 emp.)
"Partnership in our Fraud prevention efforts"
What do you like best about Riskified?

Attentiveness to concerns and they're responsiveness. Tech support always available and our account rep is never far to get in touch with. They might not or mention a specific tech support window but in fact really in our experience it has been 24/7. Product dashboard to monitor SLA and KPIs are easy to understand and use. Thus far with the relationship, we have been asked to review current product for further improvements as well test drive new products. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

At the moment there are no dislikes as they have been really open to concepts and adjusting the product to fit our needs. They willingness and openness to making things work for their client and how their client operates in their respective space. Not all merchant operations are the same as well the landscaping they operate in. So have a product or products available and altered to fit the merchant is a rare feature to have. Review collected by and hosted on G2.com.

MC
Enterprise (> 1000 emp.)
"The account executive is very dedicated and engaged"
What do you like best about Riskified?

What I like most is the close relationship with the account executive who tries to understand the particularities of the company, sector and country. Compared to the competitor we use in part of the operation (Clearsale) this point of quality is very similar as both companies offer excellent local service Review collected by and hosted on G2.com.

What do you dislike about Riskified?

The fact that they did not want to include a flow of manual validations of orders with a data verification team, seeking a path fully automated by artificial intelligence that will not always be able to map the real risk of operations Review collected by and hosted on G2.com.

Tania C.
TC
Mid-Market (51-1000 emp.)
"It’s a relationship - you’ll get what you put in"
What do you like best about Riskified?

Riskified has a strong analytics team which can provide great insight on risk vectors that may have been undetectable by your organization.

They have a very strong modelling team which are constantly looking at and revising their models to apply to current day trends. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

If you have a very niche product, you will need to provide continuous feedback in order to have the model trained to accommodate your customer base and reduce false declines. Review collected by and hosted on G2.com.

Verified User in Retail
AR
Mid-Market (51-1000 emp.)
"Absolute Game-Changer!"
What do you like best about Riskified?

Riskified simplifies and accelerates our order processing flow. It allows us to accept incoming orders much more efficiently and with confidence. Prior to implementing Riskified into our toolset, we spent a lot of time checking and verifying client information, payment information and order contents so we could make an informed decision on the veracity of the information and decide whether or not to accept the order.

We have been using Riskified for several years now, and I feel they are truly unequalled in their space. We are now able to utilize our time offering our clients top tier support rather than spend our time investigating them! In addition to this, the Rikified team are fantastic partners. They are responsive and supportive whenever we've had to reach out to them.

in short, adding Riskified to your flow is a complete game changer and I highly recommend the platform. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

I feel that at first Riskified was sometimes a bit too sensitive and would sometimes reject orders which should be covered, without providing sufficient reasons as to why. That being said, I've noticed that over time, and after sufficient analysis of the feedback we provide in each case, the system has dramatically improved each year and now we have a near perfect approval rate. Review collected by and hosted on G2.com.

Verified User in Luxury Goods & Jewelry
AL
Mid-Market (51-1000 emp.)
"Great experience with Riskified"
What do you like best about Riskified?

Thanks to Riskified, the monitoring of fraud payment is simple and the efficiency of the machine learning had a great impact on the KPI's. The webapp is user friendly as well, and the relationship with our account manager is great. Review collected by and hosted on G2.com.

What do you dislike about Riskified?

I think the Asian market isn't yet well managed by Riskified. Besides, it could be intersting to be notified if there is a change in the algorithm. Review collected by and hosted on G2.com.

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