What is Fraud Wrangler?
Fraud Wrangler is an automated, AI-enabled MID lifespan protection system. Using proprietary machine-learning technology, Fraud Wrangler provides instant, automated decision-making that heads off chargebacks before they occur. In addition Fraud Wrangler provides a single dashboard to integrate between your alert platforms, CRM, and order analytics to help you get the “full picture” of your MIDs anytime, and immediately take action from one console to handle chargebacks and alerts.
Who created Fraud Wrangler?
Fraud Wrangler was created by Robyn Jensen, who formerly served as a chargeback specialist at Discover Card, where she helped define their chargeback decisioning processes; and Ryan Shapiro, a leader in credit card processing, digital advertising, and technology.
What does the AI do?
The Fraud Wrangler AI detects order patterns that could result in a chargeback. For example, the AI might notice an order has been delayed in fulfillment, and based on the customer profile it’s likely to become a chargeback. It will then flag the order for customer service to address, or, if you prefer, using automated rules, Fraud Wrangler can automatically refund that order proactively. The automated option is especially popular with continuity products where the cost of an alert or chargeback can exceed the revenue from the order, and where controlling chargeback volume is critical.
The AI has the ability to understand thousands of signals that might not be obvious to a human, but which allow it to predict the outcome of an order much better than a human could.
How does Fraud Wrangler work?
Fraud Wrangler uses a powerful AI/ML decisioning engine that analyzes thousands of data points about each order – customer, timing, ticket size, and much more. It’s been trained on millions of orders, and it assigns each order a percentage likelihood of becoming a chargeback.
As a user you have the option to simply “flag” higher-risk orders for follow up (such as contacting the customer to address any issues), or Fraud Wrangler can simply auto-refund the transaction through your CRM based on a threshold you set. The automation is very popular because you can “set it and forget it” and Fraud Wrangler will continue working for you 24/7, ensuring your customers are cared for before they have problems with their order, and protecting the lifespan of your MID.
In addition Fraud Wrangler provides a single dashboard to integrate between your alert platforms, CRM, and order analytics to help you get the “full picture” of your MID anytime.
I already get alerts through Ethoca and Verifi. How is Fraud Wrangler different?
Unlike chargeback alert products such as Ethoca and Verifi, Fraud Wrangler doesn’t wait for a cardholder to initiate a chargeback. Using our proprietary PreVent AI technology, Fraud Wrangler detects patterns in order processing, fulfillment or customer behavior that are likely to result in a chargeback, and takes action to prevent the chargeback based on user-definable automations.
Beyond those innovative features, we also think you’ll really enjoy the single dashboard that integrates between your alert product and your CRM, saving you time and effort when responding to alerts.
One other useful feature is that Fraud Wrangler will track which alerts still ended up in a chargeback. In many cases alert providers will refund your fees if their alert fails to prevent a chargeback – but to take advantage of this you need the records. Fraud Wrangler provides those for you.
Can I use my own Ethoca or Verifi accounts with Fraud Wrangler?
Yes. If you are an agent or ISO with your own accounts, you can plug them into Fraud Wrangler so that any alert fees resulting from a MID will be paid to you as usual.
Does Fraud Wrangler need to access my CRM?
Yes. To enable our AI to study your customers’ order patterns and detect risky orders, Fraud Wrangler needs to be plugged into your CRM. In addition, by integrating with the CRM, if Fraud Wrangler needs to refund an order, this is done through the CRM, so you maintain visibility on the transaction all the way through, and can easily sync these transactions back to your bookkeeping software or other parts of your marketing stack. However, your customer data is always secure, and we do not share it with any other parties.
Will my processor get access to my CRM?
No. Fraud Wrangler takes the privacy of merchants, agents and consumers very seriously, and this information is never shared with any bank or processor. Your processor sees only the actual transactions, the same as always.
Can I put MIDs from any bank into Fraud Wrangler?
Yes, and we encourage you to do that! You’ll really see the full value of Fraud Wrangler when you put all your accounts into it, because you’ll be able to manage all of them from a single dashboard. Your data is secure and no information will be shared with any third parties.