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Signifyd Partners with Corra to Provide Guaranteed Fraud Protection to E-commerce Merchants

Fraud prevention specialist Signifyd announced a strategic partnership with e-commerce website designer Corra that will bring guaranteed fraud prevention technology to Corra’s high-end enterprise retail customers.

“Corra embraces the same deep commitment to merchants that Signifyd does,” Lee Hadsock, head of partnerships for Signifyd, said. “We believe in doing what needs to be done to ensure that merchants are successful – and to provide fraud-protection services, technology and tools that mean they don’t have to be distracted by issues and operations that are outside the core of their businesses.”

The partnership, announced at the eTail West conference, will give Corra clients both full financial protection from fraud costs, as well as the technology merchants need to establish the legitimacy of customer orders within milliseconds. Corra is a digital agency that builds commerce experiences for fashion, beauty, and lifestyle brands around the world. Signifyd’s partnership with the company is in some ways an extension of the relationship the company developed with Magento Commerce last fall.  The press release accompanying the announcement noted that both companies had been honored by Magento in 2016 – with Corra being named Magento Omnichannel Partner of the Year and Signifyd earning plaudits as Magento Best New Technology Partner of the Year.

Director of Global Strategic Alliances for Corra, Martina England praised Signifyd as an “enterprise-ready partner that can help us help our customers grow and succeed.” England referred specifically to the fraud fighter’s technology and domain expertise, as well as the firm’s sizable customer roster and history of success in supporting e-commerce. “We examined the full complement of guaranteed fraud protection players and found that Signifyd, far-and-away, met the needs of our clients,” England said.

Leveraging big data, machine learning, and human intelligence, Signifyd’s technology protects more than 5,000 online merchants and more than $37 billion worth of products against fraud. Available as an e-commerce platform plug-in as well as via an API, Signifyd automates back office operations including auto-fulfill and auto-cancel on orders, and makes it easy for merchants to get paid for chargebacks within 48 hours. Additionally, Signifyd offers a 100% financial guarantee in the event that an order approved by Signifyd’s technology proves ultimately to be fraudulent.

Founded in 2011 and headquartered in Palo Alto, California, Signifyd demonstrated its Guaranteed Payments solution at FinovateSpring 2013. Earlier this month, the company’s co-founder and CEO, Rajesh Ramanand, was named to One World Identity’s Top 100 Influencer’s list (along with 19 other Finovate alums). Signifyd partnered with Authorize.Net to bring its fraud protection technology to that firm’s U.S.-based e-commerce merchants last summer, less than one month after being added to CB Insights’ Fintech 250 list. The company has raised more than $89 million in total capital, including picking up $56 million in funding last year in a Series C round led by Bain Capital Ventures.