Grow Fearlessly: How Modern CFOs Fight Fraud and Fuel Revenue

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Hello and thank you for joining us for this insightful webinar on grow
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fearlessly. How modern CFOs fight fraud and fuel revenue. Historically, fraud,
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especially digital and payment related fraud, has been handled by a mix of
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different functions from IT or cyber security teams for data breaches and
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payment system security to finance or accounting teams for chargebacks and
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financial discrepancies to legal and compliance departments for regulatory or
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policy related fraud. However, as restaurants have expanded the digital
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experience, they’re facing new hurdles. Fraud has a direct and measurable impact
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on revenue, margins, and customer retention. And today, we’re going to
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talk about some of the unique fraud challenges restaurants face, from
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payment fraud to identity trust and account takeover challenges.
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Implementing effective fraud prevention can protect your restaurant’s profits
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and reputation. and restaurants are futurep proofing their operations with
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AIdriven fraud strategies designed to adapt to new threats while maintaining a
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friction-free ordering experience for customers. Today, we’re going to talk
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about why this type of solution is critical and explore how restaurants
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like the Cheesecake Factory are finding success with proactive fraud prevention.
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Before we get started, I have just a few housekeeping items. Please note the
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submit questions at any time throughout the presentation using the Q&A widget at
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the bottom of your console. We will try to answer these during the webcast, but
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if a fuller answer is needed or we run out of time, it will be answered later
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via email. Please know we do capture all questions. Today we are joined by Matt
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Clark, CFO of the Cheesecake Factory, and Armen Nagarian, CMO at Syft, an
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AIdriven fraud prevention solution used by merchants of all kinds, including
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restaurants, for its advanced ability to deliver more accurate fraud decisions
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across the user journey. And while they both have so much insight into this
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topic, I also wanted to mention that Matt and Armen graduated from business
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school together 25 years ago. So they not only have incredible domain
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expertise but also a great history together. So Matt and Armen, welcome.
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It’s a pleasure to have you here. I’d love to take a moment just to have you
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each introduce yourselves and tell us about your background. So Matt, how
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about we start with you?
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>> Sure. It’s a pleasure to be here. Thank you so much for having me. Uh as you
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noted, I went to business school. Give a little plug here for the USC Trojans. Uh
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after that, I I spent a few years at Disney. uh and then a couple of other
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very large Fortune 100 companies really uh in the M&A and corporate development
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side and uh my wife and I moved six times in seven years and we started
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having kids and we were looking to settle down and I got a call from the
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Cheesecake Factory to come on board. Uh that was almost 20 years ago. Uh so we
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jumped at the chance there and uh while here I’ve done international development
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and M&A and worked my way up in the finance department. Uh and eight years
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ago became the CFO. It’s been a it’s been a great ride, a wonderful company
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and happy to be here today to talk about our journey and how Sift has helped us
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really move into the the new landscape of digital sales and protecting those.
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>> Excellent. Thank you. And Armen,
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>> uh well, thank you Megan and uh for for hosting this. Matt, thank you so much
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for joining us. And yes, Matt and I do have a really uh interesting background
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as it relates to this conversation. So I think it was 27 years ago right now kind
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of dating ourselves. We were actually right around this time of year we were
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in on mainland China in Nenzing u on behalf of the USC Marshall School of
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Business um doing a preparing for a case study doing some research meeting with
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factories. So a long time ago and here we are 27 years later. Um so yes I’m
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Armen. I’m the chief marketing officer here at SIFT. Um I’ve been in the fraud
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decisioning space for 10 years um next month. So it’s been quite a journey for
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me. It’s a space that is rapidly evolving and presents a lot of unique
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and interesting challenges to solve. Uh my background after the USC Marshall
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School. Um I’ve kind of come full circle. So I started off in the food
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industry even pre before business school operating my own quick service
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restaurant and then after business school went into brand management in the
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grocery products industry and then eventually found my way into B2B
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technology and again last 10 years in fraud decisions. So, you know, this
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particular topic um is very meaningful uh to me and I’m excited to engage in
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the discussion.
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>> I’m glad to have both of you here. Really looking forward to this today.
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So, with that then let’s dive into our discussion about fraud. Armen, fraud
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used to be considered a cost of doing business, but that’s all changed as
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we’ve moved to a digital world with online ordering, customer loyalty apps,
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and all the other ways customers conduct business with restaurants. So how are
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you seeing that play out in modern restaurant organizations?
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>> Yeah. So to your first point, yes, if you think back to pre the pre-in era,
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you know, any merchant, you know, even restaurant like fraud management was a
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cost of doing business and you know there was a there was a line item in the
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P&L to account for that and it was kind of just managed according to that. If
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you fell within a certain range that was great. All the rules have changed in the
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digital era right now because how you treat customers or guests in a digital
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channel re materially affects you know how they feel about the experience right
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so this has become very much a consumer experience driven set of decisions with
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financial implications both on stopping bad things from happening but more
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importantly treating your best customers well and not insulting them not
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presenting friction as they’re ordering online and so with that you know the fra
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fraud management has taken a much more strategic position within the
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organizations that we work at, you know, with at CIF. You know, evidenced with
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Matt, you know, being, you know, in a sweet a seauite role, having purview and
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really taking an active interest in digital fraud. Again, not just from a
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cost savings perspective, but knowing that this really materially does drive
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how guests interact with the brand and the positive financial growth
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implications that are at
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>> I think that’s right, Armen. When you really think about what’s changed over
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time, we kind of joke about it in the restaurant space, thinking about 20
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years ago, it was you take a credit card and it was the knucklebusters, right?
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You’re you’re really taking that card from the consumer at that point. You’re
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in the restaurant and and oh, by the way, 80% of transactions were in cash.
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All of that has changed today. All of that is taking place online in in in the
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internet. And we need to realize that our businesses are evolving. That piece
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of the revenue is growing, but it is also about how consumers interact and
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they want to have a seamless digital experience.
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>> Well said.
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>> Excellent. Thank you so much. And Armen, for those who aren’t familiar with Sift,
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can you briefly describe how your solution supports these things that
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you’ve discussed so far? Yeah. So just a very brief background on Zift like we
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are a digital fraud platform AI powered fraud platform uh working exclusively in
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the merchant space the broadly speaking in restaurants and online ordering quick
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service restaurants casual dining like Cheesecake Factory are very much you
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know a core part of what we do. We’ve been doing this for 14 years. The way we
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do what we do is we operate a global data consortium so that every
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transaction that we’re scoring uh benefits every transaction that we score
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in the future. And so you know Cheesecake Factories benefiting from the
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the one trillion events that we score on an annual basis globally. Um and so what
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we solve for at SIFT is u an an array of digital risk decisions across that
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digital consumer journey. It it starts with a new user creating an account for
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the first time and the risk associated with that. So CIF provides a risk score
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for that real time in the moment to when they log in to their account where there
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may be stored value or a loyalty program to when they transact and actually place
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an order right there’s risk associated with that and then if there’s a dispute
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or a chargeback sift is there in the equation as well and a few other touch
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points across that digital consumer journey but that’s very much how we’re
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looking at uh managing digital risk is across that consumer or guest journey
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and being everpresent and and having the intelligence to to drive a real-time
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decision.
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>> Excellent. Thanks, Armen. And I think that’s also a great segue just to hear
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more from Matt about his journey with SEFT.
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>> Sure. I mean, hopefully I can shed a little bit of light on how the CFOs are
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looking at fraud today and and certainly in in in the digital arena, but I think
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it’s broader than that. It really sits in the entirety of the seauite and I
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I’ll touch a little bit about that, but I think it’s important to understand
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sort of the journey from the Cheesecake Factory side of how we got here as well
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and the partnership, right? So, we’re about a $4 billion company today. Uh, 10
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years ago, we had virtually zero online sales or digital sales in in any way.
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And so, you’re handling fraud really at the point of sale in the restaurant. You
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fast forward through the adoption of delivery, really the acceleration of
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that with COVID, and today our company is doing well over half a billion
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dollars in digital sales and it’s growing. And I see this being through
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all of those channels probably a billion dollar business in in the next five
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years. So you can understand that it’s super important. Every basis point is
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going to make a difference. But beyond that, it touches the consumer, right?
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And so at the Cheesecake Factory, our mission is to create an environment
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where absolute guest satisfaction is our highest priority. So as this was all
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taking place really in the in the very early stages of COVID, we knew we needed
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to have a partner. we don’t have the expertise to manage that and it was
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evolving way too fast. A centralized best-in-class partner to really help us
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protect fraud and protect our legitimate guests. So back in 2020, we did an
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evaluation. We ran your standard corporate RFP and looked at all of the
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different players and it was very very clear for us that the AI generated
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proactive approach that the SIFT model deploys was best-in-class and we run
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very very complicated restaurants and it’s very important that we have 100%
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uptime all of those attributes that we could scale over time like I said going
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from zero to what we see as a billion dollars. We needed a partner that could
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help do all of those things for us, right? It’s really important to make
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sure that the business in totality, not just finance, views this as as an
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imperative. There are some key financial metrics, of course, right? I I would say
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the ROI is nearly infinite. Uh we we’re probably saving well over a million
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dollars annually at this point in time with the fraud prevention driven by the
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the the SIFT application that we’ve deployed. our acceptance rates are
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exceptionally high, well above the benchmark, and this is from the the Visa
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business review. Um, and so we’ve really looked at this holistically, and I think
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that it’s been a critical part of how we’ve grown that business and had the
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confidence to continue to invest in that business, whether it is loyalty or
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online ordering or through the website or or any of those other avenues. Um,
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the other things maybe I’d mention really for us is that we wanted
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something that was automated. I don’t want to spend a lot of money back of
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house, right? It’s a very coste effective situation that really is
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handsoff for the most part for us. Uh and and most importantly, again, just to
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kind of end with a note that it’s very customer-friendly. We want our
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legitimate guests to be able to execute their transactions seamlessly. We want
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to capture all of that revenue while protecting fraud. So, there’s two sides
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to that to that coin and and it’s been an excellent journey for us.
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>> Yeah. I want you to just just jump on to to Matt’s point specifically around the
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outcomes. And so Matt mentioned like a very specific cost savings, right, that
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that been captured um of known fraud that’s been stopped. And that’s great.
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That’s a very hard dollar savings. And you know what Matt also referenced
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around treating your best customers well, not you know what’s called
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insulting them and presenting challenge or friction to them when you know
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they’re good. The vast majority of digital transactions, they’re good. And
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so knowing that really lowering the bar and allowing those great customers,
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great guests to have a great experience is what keeps them coming back. It
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what’s what adds to their loyalty and their lifetime value associated with the
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brand. All very important and you know really great great to hear you know Matt
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recap that um from the Cheesecake Factory perspective.
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>> Excellent points Armen. Thank you. And Matt just thinking about the numbers
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that you shared those are incredible. Now, you mentioned both the direct and
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indirect costs of fraud. So, I would like to dig into that a little bit more.
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As Matt mentioned, digital ordering was exploding and that opened new paths to
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fraud. So, Armen, what are some of those you’re seeing?
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>> Yeah, so within the online ordering and restaurant space, we’re seeing, I’d say,
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two major types of fraud patterns. one would be associated with what we call
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policy and policy abuse. Um, and that we typically see for an account opening and
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a bonus promotion that might be available to a consumer at account
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opening that can and and is abused certainly across the fraud uh across the
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restaurant and online ordering industry. Another type of policy that’s abused is
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uh refund or return abuse where, you know, somebody places an order and they
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decide they don’t want to pay for it and they might just, you know, submit a
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charge back um not in good faith. Um the fraud I’m describing in this first
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category is what may be known and what is known as friendly fraud, first party
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fraud. The Merchant Risk Council calls it first party misuse. Um and and
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oftentimes it’s just consumers like you and me that are otherwise good that just
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decide to go bad for a moment and you know that can become costly that adds
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up. Um, in contrast, the other type of fraud that I would say is perhaps uh
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more systemic and per and probably and very likely more dangerous is the
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organized fraud that you typically associated with with cards that were
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stolen or procured from a secondary market on the dark web, leveraging the
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online ordering platforms to do rapid card testing and affirming that those
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cards are in fact legitimate. um and that is costly to the restaurant
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operators as well. There are false orders placed. There are chargebacks
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that um that ensue following that card testing and that can happen at massive
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massive scale. And so that organized type of card fraud is I’d say the the
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second big attack pattern that we see especially in the restaurant uh and
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online ordering industry.
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>> Perfect. Armen, thank you so much. And you’ve been can you tell us specifically
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about maybe what’s happening within the restaurant industry specifically?
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>> Yes. Uh absolutely. And so uh one um one asset that we provide at SIFT is we’ve
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unlocked the the data within our network and make it freely available on
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sift.com. So it’s uh called fiber fraud industry benchmarking resource. You can
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get there at sift.comfiber. And you can filter by industry. And so
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within the restaurant ordering industry, which you can filter by, as an example,
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the payment fraud attack rate globally across our network, all industries, all
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geographies um in the second quarter of this year was
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4.3%. In contrast, within the within the
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restaurant ordering industry, it was three and a half points. though you’re
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seeing about, you know, nearly a onepoint reduction relative to the
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global population within the restaurant and ordering industry. Why? What we’ve
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seen over the past three to four years since the pandemic broke out is
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companies like the Cheesecake Factory really leaning in and getting a handle
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on their fraud controls and putting just best-in-class capabilities in place,
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knowing that, you know, with margins that are sometimes not software margins
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in the restaurant ordering space, every dollar counts. And so I think this is an
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example where we’re seeing the the restaurant ordering space just
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performing better than the global population across all industries.
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>> Armen, you were too nice there. I mean, I think honestly, yes, we saw the spike
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in fraud happening. All of the the things that you’re saying, I think we
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understand that to some degree in the restaurant space, but the real critical
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thing is to find the right partner to deal with it. We are not equipped to
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know the types of details that SIFT does, the way that Sift can manage the
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product. That’s really how this uh partnership came to be, right? We knew
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that we had financial impact. We knew that we had guest impact, but we don’t
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have the expertise in a world that is increasingly dynamic. It was so
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interesting to hear you talk about the different types of fraud that you’re
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seeing. And what I would say is it’s going to continue to evolve. What every
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restaurant really needs is a partner who’s going to understand how these
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fraudsters continue to evolve their approaches and continue to invest,
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continue to have the right product to it scale over time. We know that the
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environment is only going to become more complex with AI and all of the different
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uh approaches that will be you know used for delivering sales, delivering guest
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experiences and we need to make sure that we can focus on the restaurant side
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of it and we have somebody who can help us with the fraud side of it. So
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appreciate everything that you’re doing in in investing in your company for for
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the benefit of all the restaurants.
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>> Yeah, appreciate it. Now, it’s very much a partnership and we’re able to both
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focus on our core competencies and and ultimately it’s all about serving the
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customers or the consumer well. And so that’s uh you know that’s where the
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common ground is.
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>> Excellent. Thank you and thank you for sharing your perspective there Matt
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because it really sort of underlines why having the right fraud prevention
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solution is even more critical. So we touched on the importance of widening
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the lens on fraud prevention so that it’s not a siloed function. Matt, why do
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you think modern CFOs recognize the importance of expanding it into their
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domain?
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>> Well, I think somebody has to take charge, right? Anytime you’re in an
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organization and and and and I think as Armen said earlier on, a lot of times it
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sits in accounting or finance because it’s loss prevention. Historically, it’s
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been siloed into that camp, you know, but that’s really an old school belief
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because that was probably more when it was, you know, cashbased or in the
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restaurant, per se. You know, today your online presence is your brand. Today,
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your loyalty program is the biggest funnel for new customer acquisition and
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that the way they experience your restaurant online may drive them into
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the restaurant ultimately as well. And so it really starts with understanding
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that it has to be marketing, it has to be operations, it has to be technology,
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you know, and and as a CFO, I sit in a chair that’s a little bit unique because
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I can harness those resources together in a way that’s, you know, more
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effective and and faster. Uh, and it and it starts with a very very clear
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business case. We talked about the over million dollars that we’re saving and
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and and the ROI, but it’s also about getting that sales funnel, making sure
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it stays open and marketing and operations, making sure that they know
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that it’s going to be a seamless interaction with our guests. So,
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everybody needs to play a role and everybody needs to understand it’s not
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just the savings, it’s also about the sales and the long-term health of the
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business in an environment that’s only going to continue to be digitally
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focused. Yeah, thank you.
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>> What Yeah, what Matt just shared, sorry, mayor. what what Matt just shared um is
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absolutely a trend within the restaurant ordering industry and across all
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industries that we work with where we’re seeing seuite leaders including the CFO
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really stepping up and taking a broader view of not just their domain and it’s
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not just about cost savings but an intense focus on serving the consumer or
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the guest or the shopper well and and that really aligns all parties across
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the organization. And so therefore, you know, reporting responsibilities of
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fraud decisioning, fraud management um has really become more of a consumer
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experience mandate. That’s the lens with which these types of decisions and
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investments are being made. And you know where that discipline does report up
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into the office of the CFO as is the case with Cheesecake Factory, there’s a
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common language now that we’re seeing unlike 10 years ago or 15 years ago and
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it’s really remarkable um that you again this intense focus on serving customers
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well, serving consumers well.
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>> Those are excellent points. Thank you so much. And I do think that that’s a great
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note on which to leave us. However, before we turn to some questions from
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our audience, I would like to ask you both if you have any additional thoughts
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that you’d like to share. Armen, why don’t you start?
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Matt touched upon this earlier that uh we are in a rapidly evolving space.
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Often times the adversaries have better tools than we do. And so this is very
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much become a cat-and- mouse experience unfortunately. Now, the good news is is
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those of us that are fighting fraud are leaning heavily into AI powered
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detection capabilities and automated solutions. And that’s that’s where SIFT
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plays. We have, you know, leading research to really drive what that next
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attack pattern looks like, what’s happening in the dark web, in the
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chatter, and we monitor those those those forums, believe it or not, to
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understand and learn from what might be coming next, what that fraud actor
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playbook looks like. And so, um, you know, the point Matt made earlier is
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companies like the Cheesecake Factory, their core competency is running
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restaurants and treating guests well. Um, our core competency at SIFT is
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really applying decision science to make the very best risk decisions in real
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time to help companies like the Cheesecake Factory. And it’s the
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partnership that matters most. And so, I I want to use this opportunity as a as a
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as a chance to thank Matt again. It’s been a journey over the past five years
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between Cheesecake Factory and Sift. Uh very grateful for the relationship and
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the results um I think are quite compelling. So thank you Matt for uh for
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coming along the ride with Sift over the past several years.
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>> Well, it’s it’s been great and um you know again I I would sort of echo the
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thoughts that you’ve made over the last couple of comments. I mean really it’s
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all about sales for any business ultimately, right? And and so that’s the
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common language that we can talk about in in our business. And and ultimately
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sticking to core competencies is super super important. Finding a partner that
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can scale with with robust growth over time across multiple channels and
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unforeseen opportunities and obstacles over time is is super important. You
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know, one of the things that I’ve really learned uh in in my tenure is I don’t
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want to switch partners. it there’s a it’s prohibitive and there’s a cost and
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so you know we we really did our due diligence upfront to find who we thought
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was the best partner and I think we’ve been proven right
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>> well said perfect note to end on there so thank you both so much so in the time
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that we have left I would love to turn to some questions from our audience uh
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just to jump right in here our first one says I work with a brand that is siloed
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at the moment what are some first steps we can take to help make fraud
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prevention a more cross teamam function Matt Either of you want to take that?
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>> I I’ll jump in. I mean, it really speaks to kind of the role that I’m playing and
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and I and I think first of all for for the, you know, for the question here is
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to elevate it. It’s not just about fraud prevention. Again, I think what we
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continue to talk about it is is it’s the totality of the business. It’s the
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experience of the guest. So, yes, we want to prevent fraud. We we don’t want
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to have the the creep on the expense line. There are real savings in an ROA
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that you can measure, but it’s immeasurable if you can protect the
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guest experience. You can have your your legitimate guests have that seamless uh
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sales that you can generate for your company and and really if you go to to
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to marketing, you know, that that’s a an easy intro. But also with operations,
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they want to make sure that it’s going to be easy for the people in the
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restaurants or behind the scenes to continue to operate the business as
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easily as possible. And then with technology, as I said a little bit
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earlier, you don’t want to have to change partners. You want to find the
24:53
best-in-class. And so you want to get technology on board to get that solution
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in, integrate it, and know that it’s going to be robust and seamless. So
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really bringing everybody to the table up front and explaining that the the
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more uh the broader business case, I think, is super important.
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One technique that I’ve seen across, you know, many different um industries that
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we support here at SIFT is um the establishment of a consumer experience
25:21
council. Um and that becomes the rallying cry for cross functional teams
25:26
including the office of the CFO, operations, product, um risk management,
25:31
etc. to to really work together and fraud decisioning is one of the pillars,
25:36
one of the disciplines that they talk about within that forum and solve for,
25:40
but it’s done through the lens of delivering a great consumer experience.
25:43
And so if you are in a company where fraud management is still kind of
25:47
feeling like it’s 10 years or 15 years ago and it is truly siloed maybe sitting
25:52
within an IT organization you know my my guidance would be um find birds of a
25:58
feather establish a consumer experience council and then have that proper
26:02
context to talk about risk decisioning and fraud decisioning through the lens
26:06
of growth and treating customers well.
26:09
>> I love that advice. Thank you. Our next program here or question here says, “You
26:13
talked about friendly fraud, particularly as it relates to loyalty
26:16
programs. What are some safeguards restaurants can put in place to help
26:20
prevent these activities?”
26:22
>> Matt, do you want to do you want to take a crack at that one first? Yeah, I think
26:26
it’s important to um we we we have a rewards program here at the Cheesecake
26:30
Factory and and one of the things that was most important about when we thought
26:33
uh about establishing that. It’s been about two years now is to make sure that
26:37
at the very beginning you’re addressing the fraud. You don’t I think you don’t
26:42
want to get into a situation with a loyalty program two or three or four
26:45
years down the road and then decide to bring in a partner and integrate after
26:50
you found all of the the bugs and issues. It’s really great if you can
26:54
establish it up front. At least for us that that’s been the most important
26:58
thing and it kind of dovetailed, right? So if you think about our journey with
27:01
SIFT started in 2020 and then our our rewards program really started from a
27:06
pilot to about two years after that. So we we I think you know maybe it was a
27:10
little bit luck but I think we scheduled it correctly from our company
27:12
standpoint. It’s good to get the fraud piece in first and then do the loyalty
27:16
program.
27:18
>> Yeah, very very good point. You know I very much related to the question is did
27:23
you know one of the world’s largest banks is in fact the Starbucks loyalty
27:27
program. If you think about all the store stored value that’s sitting there
27:31
in in accounts aggregated across millions of consumers it is massive and
27:36
therefore the risk is very very high. The risk of a a bad actor hacking in or
27:42
procuring login credentials from the dark web and going in and transferring
27:46
points is very real. Right. it it’s it’s bad for the brand, it’s bad for the
27:51
consumer. And so, um, mitigating that risk and putting the controls in place
27:56
and not making it an afterthought, making it part of the design up front to
28:00
prevent that really negative guest experience and financial loss associated
28:04
with an account takeover where loyalty points are swiped is really, really
28:08
important. These are problems that we solve at SIFT every day. And uh and I
28:12
think to Matt’s point is make this part of the design upfront and and and
28:17
certainly not an afterthought.
28:20
>> Excellent example. Really kind of puts it all into perspective there. Our next
28:24
question asks, “How do you see customer trust and brand reputation intersect
28:28
when it comes to fraud?”
28:31
>> Well, the brand is everything, right? Ultimately, the trust that the consumer
28:35
has, whether it’s the trust that they’re going to have a great burger when they
28:40
come into the restaurant or that the company is going to manage their data,
28:46
whatever data that might be, it’s credit card information or their personal
28:51
information is is everything today. And and with the way that the news cycle
28:56
works, one little slip up can have a devastating impact on on the brand. So,
29:01
I I think that we we all need to keep that in context and we’re thinking about
29:06
fraud. The consumer needs to believe that you as a company are doing
29:11
everything you can to help protect them and and and that, you know, that loyalty
29:17
uh it can be easily lost and is hard to regain. Uh and so again, it’s kind of
29:23
like thinking about the loyalty program that we were just talking about. You
29:27
need to put those safeguards in place first because losing that trust is is so
29:33
hard to regain. And so you don’t ever want to be in a position where you
29:36
haven’t invested the you know that extra money and it’s not a lot to make sure
29:42
that you’re protecting your guests.
29:45
>> Very well said. And you know and the only comment I will make is as a CMO
29:50
hearing a CFO say that brand is everything is music to my ears. So,
29:55
thank you Matt for that.
29:57
>> Perfect. Thank you so much. I think we’ve got time for one more question.
30:01
So, we’ll end on this one. How do you communicate or do you to customers how
30:05
your brand is conducting fraud prevention activities to help safeguard
30:08
their information?
30:10
>> That’s a super interesting question and something that we’re continuing to
30:14
evolve our perspective on. Right. When we think about something like on the the
30:19
credit card protection with SIFT, we’re we’re actually not really communicating
30:23
most of that today because it’s sort of back of house. You know, there there are
30:27
other aspects of that are a little bit more forward- facing. So, I think for
30:31
us, that’s why prevention is so important at the Cheesecake Factory
30:34
because we’re not necessarily broadcasting that we’re doing a great
30:36
job with protection, but we are. And so, that that in in our mind is that it’s
30:41
it’s sort of envelops everything that we do. uh and and we’re you know we’ve been
30:46
building this brand for for 50 years. Um but so right now for us it’s a little
30:51
bit more about ensuring that we provide that protection because we’re not
30:55
broadcasting everything that we’re doing.
30:58
>> Very important point. You know these real time risk decisioning technologies
31:02
are um below the surface and and that’s a good thing for the consumer. They the
31:07
consumer does not need to necessarily want to know. uh what they do want to
31:12
know is that they’re going to have a great experience every time they
31:14
interact with a brand. The one exception that we are seeing is on these socially
31:19
engineered attacks where you know a you know a nefarious actor might be emailing
31:24
using email to reach out to a consumer with a lookalike domain and even
31:29
creating a lookalike domain that might look and feel like the Cheesecake
31:32
Factory. So, I’ve seen proactive communication to educate consumers that,
31:37
hey, you’ll never get an email like this from our brand. If you see a property
31:42
that looks like this asking you to reenter your credentials, know that
31:45
that’s not legitimate. So, I’ve seen that type of communication different
31:49
from the real- time risk decisioning that we’re mainly talking about on this
31:52
call.
31:53
>> That makes so much sense, Armen. Appreciate that insight.
31:57
>> Perfect. Thank you so much. That is all the time that we have today. Thank you
32:01
so much to Matt and Armen and of course to all of you for being with us today.
32:04
Just a reminder, this webinar will be available on demand and you’ll soon
32:08
receive an email with a link so you can rewatch or share the content with your
32:11
colleagues. Have a great day.