A recent study by Forrester Consulting highlights the substantial financial benefits that inDrive, a global mobility platform, has gained by implementing SHIELD’s Device Intelligence solution. This solution, which focuses on device-level fraud prevention, has enabled inDrive to achieve a remarkable 1377% return on investment (ROI) over three years.
Key Benefits of SHIELD’s Device Intelligence
The Forrester study reveals that SHIELD’s Device Intelligence has delivered significant value to inDrive in several key areas:
- Fraud Loss Avoidance: By preventing various types of fraud, such as driver-passenger collusion and ride monopolization, inDrive has avoided an estimated $57.9 million in losses.
Resource Optimization: SHIELD’s technology has allowed inDrive to reduce the resources required for fraud prevention, resulting in $45.4 million in savings. This efficiency gain has enabled inDrive to redirect resources towards market expansion and new product development. - Accelerated Growth: With improved fraud detection, inDrive has confidently entered high-risk markets and launched new products and features, such as diversified payment methods, leading to faster growth and improved service quality.
- Enhanced Trust: By proactively addressing fraud, inDrive has built trust within its ecosystem, ensuring fair and transparent rides for passengers and equitable job allocation for drivers.
How SHIELD’s Technology Works
SHIELD’s platform tackles fraud by assigning a unique SHIELD Device ID to every device that accesses the platform. This allows for the identification and mitigation of fraudulent activities originating from fake accounts and malicious tools like app cloners and GPS spoofers. Importantly, SHIELD’s solution achieves this without relying on personally identifiable information (PII), ensuring compliance with data protection regulations.
inDrive’s Success Story
Before partnering with SHIELD, inDrive had attempted to combat fraud with an internally developed tool. However, this approach proved ineffective against sophisticated fraudsters who could easily manipulate common identifiers. SHIELD’s Device Intelligence provided a more robust and effective solution, enabling inDrive to proactively address fraud and achieve significant financial and operational benefits.
The successful collaboration between SHIELD and inDrive demonstrates the power of device-level fraud prevention in driving profitability and sustainable growth for businesses. By focusing on the device itself, SHIELD provides a powerful tool for combating fraud, protecting businesses, and fostering trust within their ecosystems.
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