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How Splitdrop reduced fraud rates by 82% in one month with Verisoul

Splitdrop's executive team built a $B market research business, but spent $M fighting fraud. Now, they're doing it again, but relying exclusively on Verisoul to grow safely.

Industry
Geography
Use Cases
Repeat Signups
Geoblocking
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Challenge

Sean and Chris built one of the largest get-paid-to marketing platforms in the world when at Prodege. There, they witnessed the rise of digital fraud, fake accounts, and bots trying to abuse Prodege’s reward system. To stop this, they paired multiple vendors and in-house tech with acquisitions and an internal fraud team: a complex and expensive toolset for combatting fraud.

As a lean team building another world-class user advertising platform, they needed to stop the increasingly sophisticated fake accounts without breaking the bank or requiring months of engineering work.

Pain Points

  1. Other vendors - like IP quality scoring products - had too many false positives, impacting their ability to onboard valuable users
  2. Past work building Prodege involved huge teams and acquisition costs - two things that the lean SplitDrop team knew they couldn’t afford
  3. Before Verisoul, sophisticated users were able to create multiple accounts to earn rewards while increasing Splitdrop’s chargeback rates
“You guys have an amazing product. Our fraud rates dropped >80% in just the first month."
Chris Mylan
CEO

Solution

Fake Account Detection data enables accurate scoring

Splitdrop runs Verisoul’s invisible Fake Account Detection product suite continuously while users are on their platform - and gets data from Verisoul before sign-up, sign-in, and withdrawal. Spltidrop uses granular data to take actions, like:

  • Analyzing geolocation data to enable precise geoblocking
  • Detecting proxy IPs and preventing those users from accessing partner offers

FaceMatch removes manual review processes

Splitdrop uses the Verisoul FaceMatch when accounts want to withdraw earnings. By ensuring users are real humans and also unique accounts, Splitdrop completely eradicated a manual review process before each withdrawal - enabling users to get paid faster while saving time and money.

AI Fraud Analyst saves hours per week

The Splitdrop team uses Verisoul’s AI fraud analyst to automatically investigate suspicious accounts in seconds - rather than spending hours manually reviewing users.

“Having used several other fraud prevention tools, I find Verisoul’s answer to have a higher degree of accuracy and fewer false positives on detection metrics than others.”
Sean Whitley
CTO

Results

  • 82% reduction in fraud in just the first month - and another several pps of fraud saved in months 2-4
  • 50% reduction in false positives - allowing Splitdrop to grow safely
  • 2 external vendors replaced - reducing management overhead, consolidating vendor spend, and centralizing fraud operatons
  • 10 hours per week saved on manual reviews
"The support i receive from the Verisoul team is quite impressive, literally someone responds within minutes to any question i have and this has included late evenings.”
Sean Whitley
CTO
82%
Fraud reduction in first month
50%
False positive reduction
3+
External vendors replaced

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