Digital Trust and Safety reflect what your business’ mindset is, what processes take place in your company, what organizational structure you have, and the technology you rely on. These 2 notions empower companies to keep their revenue balanced and make rational risk decisions. If you’re interested in this and need to find exceptional alternative online loans, you’re at the right place.
Alternative Business Loans and Digital Trust & Safety
Did you know that the majority of consumers are worried about becoming victimized by payment fraud? This is according to Sift’s recent survey results focused on revealing fraud trends across eCommerce.
However, to run a business with Digital Trust and Safety in mind, you can’t merely rely on fraud prevention techniques. You need to apply a revolutionary approach aimed at the overall business ecosystem you have.
So, brands that put Digital Trust and Safety in the 1st place are among the most rapidly growing companies, according to Sift’s CEO Jason Tan. With the right mindset, technology means, and processes, business owners can balance risk and revenue successfully.
Based on a recent Digital Trust and Safety report by Sift, 77% of online businesses focus on providing frictionless experiences, and for 60%, fraud prevention blocks their efforts to reach that goal.
It’s never been more challenging to combat fraud than today. It’s becoming more and more complex to meet the ever-evolving customer demand. Besides, the way businesses were fighting fraud in the past is no more actual.
Thus, the approach based on Digital Trust and Safety plays a primary role in turning tables in your favor. It can help you mitigate risks associated with fraud while raising revenue and boosting user experience.
That’s where reputable merchant services providers like First American Merchant step in. FAM is a BBB-accredit alternative online lender and payment processor that specializes in the high-risk field.
FirstAmericanMerchant.com offers alternative business loans at the cheapest possible rates and fees. What’s more, with First American Merchant, you can enjoy unmatched fraud prevention and chargeback mitigation services thanks to FAM’s partnership with Verifi and Ethoca.
Growth Based on Digital Trust & Safety
The majority of business owners prioritize the growth of their business. However, growth is often reached at the expense of deteriorated customer experience. Many of them start using costly, complicated anti-fraud infrastructures like rules-based systems, thus creating friction for honest users.
Thankfully, the Digital Trust and Safety approach helps businesses align risk and revenue decisions backed by machine learning technology and cross-functional collaboration. Since traditional retailers and eCommerce businesses face increasing competition in today’s digital world, they can’t do without applying the necessary changes.
Thus, companies need to work on adapting to the increasing range of threats, as well as meeting the constantly-growing expectations of consumers. This is how they can differentiate themselves from losers.
To sum up, online fraudsters are getting smarter and are using more sophisticated techniques. In today’s crowded, complex market, Digital Trust and Safety can help you earn customers’ trust, enhance collaboration, and protect your customers and your bottom line.