Signifyd Named to Fast Company’s List of Most Innovative Companies for 2023

SAN JOSE, Calif.–(BUSINESS WIRE)–Signifyd was named today to Fast Company’s prestigious list of the World’s Most Innovative Companies for 2023 based on its strides in advancing artificial intelligence in the service of protecting commerce and online payments.

Signifyd was named today to Fast Company’s prestigious list of the World’s Most Innovative Companies for 2023 based on its strides in advancing artificial intelligence in the service of protecting commerce and online payments.

In announcing the honor, Fast Company said the list highlights “businesses at the forefront of their respective industries. These companies are setting the standard with some of the greatest accomplishments of the modern world.”

In particular, the publication’s reporters and editors placed Signifyd as one of the top 10 companies working in the artificial intelligence field.

“Our customers have always been at the heart of what we do,” Signifyd CEO Raj Ramanand said of the Fast Company award. “They help drive our innovation through their suggestions and the business challenges they talk to us about. We have consistently added features and new solutions that solve their problems. In many ways, we share this honor with our customers.”

The Fast Company panel sought out innovative companies worldwide and pored through nominations detailing innovative initiatives from all business sectors.

“This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA,” Fast Company Editor-in-Chief Brendan Vaughan said in announcing the list. “Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation.”

The publication recognized Signifyd’s contribution to helping online brands through three-plus years of constant disruption — from COVID, to supply chain breakdowns, to labor shortages, to inflation, to consumers’ pullback on spending.

Given the ongoing challenges, ecommerce enterprises cannot afford to pass up opportunities to capture revenue they’ve been inadvertently turning away with poorly performing checkout and by mistakenly rejecting good orders for fear of fraud.

Signifyd’s Commerce Protection Platform increases order approval rates — and therefore sales — by understanding the identity and intent behind each order and all but eliminating false declines. Its Decision Center gives merchants the power to draw on network insights and business-specific data when creating and enforcing policies — such as those around returns and unauthorized reselling — specific to their own brands.

Merchants can create, test, deploy and manage all their various policies directly from Decision Center, providing valuable transparency and control.

Overall, the value of orders decisioned by Signifyd increased by 67% in 2022. And a Signifyd analysis found that individual retailers were seeing the number of approved orders increase by an average of 5% to 9% after deploying Signifyd.

Fast Company’s judges also recognized Signifyd’s innovative work with payment processors, expanding the availability of transaction intelligence and thereby clearing another blocker to increased sales in a time of economic uncertainty.