Based in Los Angeles California, ScratchMonkeys is the premier, go-to haven, for gamers to access their favourite digital gaming and entertainment codes delivered instantly with a click of a button. ScratchMonkeys has built an extensive partnership network that includes some of the world’s most recognisable gaming brands including Sony PlayStation, Xbox Live, Nintendo, Blizzard and more.
ScratchMonkeys was founded to fill a gap in the market – most online retailers were only accepting cash payments, processing the transactions manually, and emailing game codes to customers individually. ScratchMonkeys had a vision to enable a seamless user experience, via a new platform dedicated to gamers for instant access to gaming codes.
The popularity of the platform when it was first launched drew the attention of fraudsters, resulting in numerous chargebacks. This prompted the ScratchMonkeys team to immediately shut the site down and embark on finding a fraud prevention partner.
Girish Manglani, Head of Business Development said, “For one and a half years, fighting fraud became my life. I was solely focused on how fraudsters could attack us and what we could do to prevent them from succeeding.”
As a result, ScratchMonkeys became very conservative in its approach to fraud, working with four different vendors.
Manglani shared, “A customer would effectively have to pass through four different fraud checks before they were able to make a purchase. While one system may flag a user as fraudulent, another might not, leading to a lot of false positives. This ultimately impacted the customer experience and hindered revenue growth.”
Working with four vendors also proved to be expensive for the business. With a single transaction being processed four times, ScratchMonkeys’ margins were being affected drastically.
ScratchMonkeys needed a new solution and learnt about SHIELD’s Autonomous Risk Intelligence platform. When ScratchMonkeys was hit by a coordinated fraud attack, SHIELD blocked more instances of fraud than what had been captured by the other four platforms combined, whilst delivering a higher approval rate.
Manglani shared, “I was really impressed with SHIELD’s technology. A lot of the other technologies on the market are rule-based or requires a lot of input – they are reactive. With SHIELD, it is fully automated, accurately predicting and preventing fraud from the moment you integrate.”
He added, “Additionally, SHIELD adopts a consultative approach to provide insightful recommendations, making us feel valued as a customer.”
ScratchMonkeys has seen a yearly increase in revenue by over 50 percent since the start of their partnership with SHIELD. Building on this success, ScratchMonkeys has set their sights on new markets including Canada and Europe.
Manglani commented, “With SHIELD protecting our business from fraud, we can focus our efforts on scaling our business into new markets around the world. We have ambitious plans and we believe that SHIELD is the perfect partner to help us on this journey.”