What does it take to continually improve and evolve the most cutting edge online fraud management technology? Innovation, integrity, and scientific exploration.
I know what you’re thinking-those sound like pretty lofty claims from a technology company. Those are the same tools used by scientists trying to cure cancer and put a man on Mars. Can they really be applied to online fraud management and risk mitigation solutions?
The answer is a resounding “Yes!” and Emailage puts those principles into practice every single day. In this six-part blog series, I will be pulling back the curtain on our development and decision science teams for a look at where art and science meet to create a holistic risk management platform. Let’s start with the team in charge of day-to-day innovation.
Feeding the development family
At Emailage, we believe that the best ideas are fostered in a family-like environment where each idea is given its due consideration. One way we achieve this is by using a one-pizza development team model. The basic idea is that no singular team working on our products is larger than what can be fed by one pizza. This model sustains the continual process and product improvement without a need for excessive meetings to get up to speed or specifically timed “sprints” popular in our industry. Lean development and family-sized teams are not new concepts. In fact, the principle is based loosely on something Jeff Bezos instituted in the early days at Amazon.
However, at Emailage we take that idea a step further than our competition by working on projects in small pods. These pods are also cross-functional, meaning they frequently have members from multiple parts of our organization depending on the project. What this looks like can vary from project to project but, for example, a team working on improvements to our API could have two software developers, one decision scientist, and a QA engineer. Collaboration is a core value at Emailage, and we work hard to ensure that departments aren’t operating in silos.
Dinner table conversation
Just like conversation at the dinner table keeps family activities and appointments straight, communication is critical to continuous product improvement. There are a lot of reasons to streamline communication and prevent department isolation, but one of the major ones is money. Studies show that Fortune 500 companies lose up to $31.5 billion per year due to not sharing knowledge. Much of this is attributed to knowledge hoarding or knowledge loss due to department isolation and employee turnover. By implementing nimble cross-departmental development teams we avoid these pitfalls and ensure everyone has access to the information necessary to provide cutting edge fraud management coupled with amazing customer experience. By treating our customers as partners in the fight against fraud, they benefit from the shared knowledge through better fraud models and increased loss prevention.
While it’s no secret in tech that when teams are isolated from each other communication breaks down, many don’t realize that the larger a team becomes the harder effective communication becomes. The efficiency and productivity of large teams are often overestimated, leading many in the tech sector to believe that unmitigated team expansion will lead to faster results. However, research is showing this to be untrue. Larger teams have a tendency to not only have issues communicating and agreeing on a direction for projects but they also often underestimate the amount of time it will take to complete a project leading to missed deadlines and lost revenue. This is just as detrimental as a project being understaffed.
Sharing knowledge is one reason that our project teams are not limited to the traditional makeup of engineers, scientists, and developers. Any member of our organization can provide valuable insight into what the next trend in online fraud management will be or effectively anticipate the next need our customers may have. There are times our project teams include members from departments that are not usually involved with development (such as marketing or customer success) because they have frontline knowledge about our most important asset, our customers.
The bottom line is that fraudsters aren’t resting on their laurels, content to keep running the same scams. Fraud is a continuously evolving problem that requires an innovative answer. Innovative answers require lithe adaptable teams without the constraints of traditional development processes popular in the fraud and risk management industry.
Through a combination of streamlined development and continuous improvement, Emailage stays ahead of the fraudsters and provides an expansive network of shared fraud data used in risk analysis that happens in milliseconds. Continually improving those products means providing the most up-to-date information for proactive fraud management to our customers.
Ready to learn more about what our out of this world development team can do to improve revenue and improve the customer experience for your business? Request a demo today!