Situation

A multi-national online marketplace experienced billions of dollars of yearly revenue, as it expanded its business to over sixty countries and its popularity exploded.  As they grew, so did their risk, and they were left with a fraud mitigation strategy that was no longer sufficient for the nature and volume of risk that they were experiencing.

Approach

Glenbrook began the engagement by performing a deep analysis of the current and evolving risks that the marketplace was facing, examining existing tools, techniques, technologies, and operational approaches.  After quantifying the nature of their overall risk environment, we developed a comprehensive business requirements document that included a set of necessary fraud prevention features. We then provided an overview of the current service provider landscape, working collaboratively with our client to determine candidate vendors to consider for deeper analysis.

We transformed the business requirements into a comprehensive vendor RFP for transactional risk management and KYC/KYB services and utilized our proprietary methodology to manage the end-to-end RFP process.  This included managing initial conversations with vendors, RFP responses, data synthesis, and economic analysis. Our efforts ultimately resulted in vendor recommendations.

Impact

Glenbrook’s work enabled our client to confidently choose the vendors that were best suited for the next-generation fraud detection platform.  The client subsequently executed a year-long plan to enhance their platform using our recommendations.