Introduction

Style Theory is Singapore's first clothing subscription rental platform, offering a wide array of designer dresses and branded bags from the largest collection of the latest Southeast Asian fashion. Recognized as the region's largest circular fashion platform, Style Theory boasts a diverse and extensive selection.

Challenge

Style Theory is seeking to expand its business beyond Singapore. Recognizing the potential challenges posed by fraudulent actors, Style Theory sought the expertise of Corgi Labs to ensure a smooth and secure expansion.

Corgi Lab's analysis revealed that Style Theory's proactive yet aggressive strategy to prevent fraudulent transactions led to a reduction in potential earnings due to excessive blocking. Finding the balance between fraud prevention and revenue growth became a challenge.

Solution

Corgi Labs optimized Style Theory's fraud prevention system by reducing the block rate while maintaining security. With third party access to disable certain rules provided by the payment provider, Corgi Labs fine-tuned the fraud strategy. This improvement not only protected the customer experience but also positively affected revenue.

Results

2.2% MoM revenue unblocked & 1.6% reduction of true block rate.