The Californer - Mobility Unicorn inDrive Achieves 1377% ROI & Accelerates Profitability with SHIELD's Device-First Fraud Intelligence USA - English APAC - English

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SAN FRANCISCO, Oct. 2, 2024 ~ A recent study conducted by Forrester Consulting has revealed the significant impact of SHIELD's Device Intelligence solution on businesses. The study, commissioned by SHIELD, evaluated the return on investment for companies who invest in their fraud intelligence platform.

The study found that global mobility platform inDrive experienced a 1377% return on investment (ROI) after implementing SHIELD's solution. This translated to a total of $104.6 million in benefits over three years, with a payback period of less than six months and a net present value of $97.5 million across 63 geographical markets.

One of the key benefits highlighted in the study was the prevention of fraud losses, which amounted to $57.9 million for inDrive. SHIELD's technology enabled the ride-hailing and urban services platform to detect and prevent fraud such as driver-passenger collusion, ride monopolization, and ride-matching engine manipulation.

Additionally, inDrive was able to save $45.4 million by reducing the resources needed for fraud prevention. With SHIELD's proactive intervention against fraud, inDrive was able to reduce the need for additional full-time employees by 92-94%, freeing up resources to expand into new markets and stay ahead of emerging threats.

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The study also noted that SHIELD's Device Intelligence solution allowed for accelerated market expansion and new product launches for inDrive. The platform's improved fraud detection gave them confidence to enter high-risk markets and launch new features such as diversified payment methods, ultimately leading to increased revenue growth.

Moreover, implementing SHIELD's solution helped build trust within the inDrive ecosystem. By preventing fraud in real-time, customers could rely on the platform for safe and fair rides while drivers benefited from a more equitable job allocation system.

In an interview with Forrester Consulting, Arsen Tomsky, Founder & CEO of inDrive, stated that their partnership with SHIELD has been instrumental in their fight against injustice. The savings from fraud prevention were channeled into growth and innovation, ultimately benefiting their users and communities.

The study was conducted through interviews with inDrive representatives and analyzing financial data. It can be read in full on SHIELD's website.

Before partnering with SHIELD, inDrive had tested an internally built tool to combat fraud. However, this proved to be ineffective as malicious users could easily change common identifiers such as usernames and phone numbers. This led to their decision to invest in SHIELD's Device Intelligence solution.

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SHIELD's platform uses a unique Device ID to identify every physical device on a platform, eliminating fraud at its root - the devices used to create and control fake accounts. This, combined with real-time actionable fraud signals, allows businesses to detect when a good user turns bad and mitigate malicious tools without requiring personally identifiable information (PII).

Justin Lie, Founder & CEO of SHIELD, emphasized the study's results and their collaboration with inDrive as a testament to the effectiveness of their device-first fraud intelligence platform. He stated that SHIELD's solution not only reduces the cost and time burden of fraud for global businesses but also promotes fairness and trust within their ecosystems, ultimately driving substantial ROI and sustainable growth.

To learn more about how SHIELD's device-first fraud intelligence platform can benefit your organization, visit their website or contact them directly at shield.com.

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