The client was interested in benchmarking industry approval rates and fraud levels, to identify areas to optimize the checkout experience and accelerate revenue growth.
While the client had sophisticated data-analysis processes in place, it faced challenges accurately identifying inefficiencies and actioning resolutions. The company desired to benchmark their performance to the industry to identify optimization opportunities, amplify their results, and maximize payments performance.
We collaborated with the client’s payment acceptance partners to collect data from various regions, merchant IDs (MIDs), and suppliers. By harnessing the CMSPI Platform (which utilizes advanced machine learning to compare and contrast complex data sets), our specialists were able to delve deeply into their payment setup and identify transaction and BIN-level performance issues. After benchmarking their transaction performance against the CMSPI data-lake, which contains trillions of consumer spend records, we formulated several short-, mid-, and long-term strategies to significantly improve their approval rates and reduce fraud-related costs.
Our team, armed with detailed data insights, assisted the client in effectively cooperating with their payment supply chain to address issues that ranged from data collection and misapplication of fraud rules to the transfer of data between acquirers and issuing partners, which had been leading to suboptimal performance from select banks.
By partnering with our specialists, the client generated eight-figure revenue growth by improving approval rates. The merchant continues to utilize our unique data insights and the CMSPI Platform to scan for performance issues and highlight new areas of opportunities to keep them ahead of the curve.
We were able to use our technology and specialist expertise to:
Boost revenue by 8 figures annually through enhanced approval rates
Stay optimal over time amidst an ever-changing market
Stop losing revenue to false declines with no additional fraud risk