Turo Improves Customer Experience and Efficiency with Sift
50%
year-over-year reduction in global fraud review volume
Maintained low fraud rates while cutting risk operation costs
Reduced customer friction, leading to increased revenue
OVERVIEW
The World’s Leading Car-Sharing Marketplace
Turo is the world’s largest car-sharing marketplace, where you can book the perfect car for wherever you’re going from a vibrant community of trusted hosts across the U.S., UK, Canada, Australia, and France. Whether flying in from afar or looking for a car down the street, searching for a rugged truck or something smooth and swanky, you can skip the rental car counter and choose from an extraordinary, unique selection of nearby vehicles shared by local hosts. Entrepreneurs can also take the wheel of their futures by becoming hosts and building car-sharing businesses on Turo, leveraging an established platform to scale their businesses and meet their goals.
CHALLENGE
Navigating Global Expansion and Fraud Prevention
As Turo expanded from a U.S.-based organization to a global enterprise, the company encountered growing challenges in detecting, preventing, and mitigating fraud. It became critical to find a robust solution capable of adapting to diverse markets and evolving threats. Turo sought a partner with cutting-edge technology and expertise to navigate complex risk scenarios and maintain a secure, trusted environment for its community.
SOLUTION
Leveraging Sift’s Advanced Fraud Prevention Technology
Turo chose Sift for its advanced technology and comprehensive fraud prevention capabilities. The global car sharing industry is highly competitive and demands a convenient in-app experience, especially when entering new markets.
To support global expansion, Turo needed a solution that could quickly adapt to localized fraud patterns, as different regions have unique risks. Sift’s approach to automation allows for the rapid configuration of thousands of risk signals, enabling Turo to efficiently manage regional fraud patterns. Sift provides Turo with machine learning models derived from a consortium of data sources, offering instant insights into risk. This empowers Turo to make proactive and informed decisions.
Sift’s embedded case resolution capabilities and in-depth insights, including on-demand visual link analysis, accelerate manual review processes. This is particularly beneficial during periods of high growth, helping Turo maintain operational efficiency and accuracy. These key capabilities, along with Sift’s expertise, enabled Turo to manage fraud and risk in real time effectively. The implementation process was seamless, with Sift’s team providing expert guidance throughout. By leveraging Sift’s data ingestion and model scoring, Turo automated decision-making, significantly increasing the efficiency of its risk teams in reviewing, labeling, and acting upon fraudulent activities with greater precision.
RESULTS
Achieving Significant Reductions in Fraud and Operational Costs
Since implementing Sift, Turo has successfully scaled its global operations while keeping fraud below the company’s thresholds. The platform’s advanced features have enabled Turo to detect and manage emerging fraud risks, resulting in improved customer satisfaction, streamlined bookings, and higher conversion rates and revenue. Additionally, Turo has drastically reduced manual reviews and fraud-related cancellations, optimizing business processes and cutting operational costs.
Turo’s partnership with Sift has been pivotal in managing fraud effectively during its global expansion. Sift’s platform and expert support have allowed Turo to maintain a trusted community, enhance customer experience, and drive significant business growth.
Thanks in large part to Sift’s capabilities, Turo reduced its global fraud review volume by 50% year-over-year, reducing customer friction, increasing revenue, and lowering risk management costs. This efficiency has kept fraud rates low and in line with industry standards, while freeing agents to focus on high-priority cases and more strategic work, driving greater operational effectiveness.
