The offering is supported by Riskified’s e-commerce, fraud and identity intelligence, which keeps track of over 2.5bn transactions worldwide. Coupled with Deloitte’s experience in payment and fraud advisory, the offering will help merchants elevate their payment and fraud capabilities.

The collaboration will cover industries ranging from fashion, luxury and digital goods to travel and ticketing. Key metrics include approval and authorisation rates, as well as fraud losses, false declines, chargebacks and the cost of policy abuses surrounding returns, refunds, promotions and resellers.

Kevin Luh, director of Fraud Management at Deloitte, said: “Improving profitability is a key topic for businesses today. As merchants continue to invest in their eCommerce experience, optimising performance metrics such as transaction approval rates and false decline rates has become a critical priority

“With Riskified’s wealth of transaction and customer identity data across industries and geographies, Deloitte can better evaluate and measure merchant risk and provide a more targeted solution to improve the digital transaction experience”

In January 2023, Deloitte partnered with Marqeta to provide banks, fintechs and payments firms with payment solutions for modernising the payment ecosystem.

“Fraud has evolved alongside e-commerce at an unprecedented pace over the past few years, and merchant focus on costs, revenue, and the bottom line is sharper than ever”, said Kevin Sprake, vice president of Global Channel Partnerships at Riskified. “We are proud to be partnering with Deloitte to give merchants actionable expert insights on how to take their risk strategy to the next level.”

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Last year, Riskified reported revenues of $261.3m for FY2022, a 14% jump over FY2021. The company had an operating loss of $108.6m in FY2022, compared to just $55.4m in FY2021.

The company has a current market capitalisation of $911.59m.