inDrive Achieves Remarkable ROI with Device-First Intelligence
A recent study indicates that SHIELD's advanced Device Intelligence technology has enabled inDrive, a global mobility company, to eliminate fraud effectively and boost profitability. This initiative has resulted in an impressive $104.6 million in benefits over three years.
Overview of the SHIELD Device Intelligence Study
The Total Economic Impact (TEI) study, commissioned by SHIELD and conducted by Forrester Consulting, meticulously quantifies the potential return on investment for organizations integrating SHIELD's Device Intelligence solutions. The findings revealed a staggering 1377% return on investment (ROI) for inDrive, highlighting the value of this innovative approach.
Key Findings from the Study
According to the TEI study, inDrive's integration of SHIELD has led to substantial financial results. Over a period of three years, the ride-hailing platform generated benefits amounting to $104.6 million, achieving a payback period of less than six months. The calculated net present value (NPV) stands at $97.5 million across 63 geographical markets. Notably, SHIELD's solution operates without collecting personal data, maintaining strict adherence to global data protection standards.
Advantages of Implementing SHIELD's Device Intelligence
The study highlights several critical advantages that inDrive realized by adopting SHIELD's solutions, which include:
- $57.9 Million in fraud losses avoided. SHIELD's advanced technology successfully prevented instances of driver-passenger collusion and other fraudulent activities.
- $45.4 million saved in resource allocation for fraud prevention. This solution allowed inDrive to cut down on necessary full-time employee (FTE) resources by 92-94%, reallocating those resources towards expansion and addressing emerging risks.
- Enhanced market expansion and product launches. With improved fraud detection, inDrive gained confidence in entering new and challenging markets, allowing for the rapid scaling of operations and revenue growth.
- Building trust within the inDrive ecosystem. Real-time fraud prevention ensures that customers enjoy safe and transparent rides, fostering a fair allocation of jobs for drivers.
CEO Testimonial
Arsen Tomsky, the Founder & CEO of inDrive, stated, "Our collaboration with SHIELD has been pivotal in combating fraud. The efficiency and savings achieved from fraud prevention are being reinvested into growth and innovation, ultimately benefiting our broader community."
Transition from Internal Solutions to SHIELD's Technology
Prior to integrating SHIELD, inDrive attempted to utilize an internal tool for fraud prevention; however, this effort fell short as fraudsters adapted by altering common identifiers like usernames and phone numbers. This experience hastened inDrive's decision to leverage SHIELD's sophisticated capabilities.
How SHIELD's Platform Works
SHIELD excels at pinpointing each physical device utilized on its platform by assigning it a unique SHIELD Device ID. This innovative approach effectively combats fraud at its core by identifying devices involved in the creation of fake accounts, allowing businesses to respond swiftly to emerging threats like app cloners, emulators, and GPS spoofers without relying on personally identifiable information (PII).
CEO Commentary on SHIELD's Impact
Justin Lie, Founder & CEO of SHIELD, remarked, "The findings of this study and our ongoing partnership with inDrive illustrate the substantial advantages our device-first fraud intelligence platform offers. We significantly reduce the costs and time traditionally associated with fraud challenges, while enhancing trust and fairness, which in turn accelerates sustainable growth for our partners."
Looking Ahead
To explore how SHIELD's device-first fraud intelligence can enhance your organization’s profitability, reach out for more information. SHIELD's platform is designed to empower digital businesses worldwide in their fight against fraudulent activities.
About SHIELD
SHIELD is a leading device-first fraud intelligence platform dedicated to helping digital enterprises eliminate fraudulent activities globally. By leveraging SHIELD AI, the company addresses the underlying sources of fraud through its innovative device identification technology.
About inDrive
inDrive is an international mobility and urban services platform with over 240 million app downloads. Known for its commitment to social equity, inDrive has expanded its offerings beyond ride-hailing to include services like intercity transport, freight delivery, and task assistance.
Frequently Asked Questions
What is the ROI achieved by inDrive using SHIELD?
inDrive reported a remarkable 1377% return on investment from the SHIELD Device Intelligence solution.
How much in fraud losses did SHIELD help avoid for inDrive?
SHIELD's technology prevented approximately $57.9 million in fraud losses.
What are the main benefits of using SHIELD's Device Intelligence?
The key benefits include significant cost savings in fraud prevention, accelerated market expansion, and increased trust in the inDrive ecosystem.
What challenges did inDrive face before using SHIELD?
Before partnering with SHIELD, inDrive struggled with an internally built tool that failed to effectively combat fraud.
What technology does SHIELD use to combat fraud?
SHIELD uses a unique device identification system to root out fraud by focusing on the devices associated with creating fake accounts.
