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TrueBiz Product Updates: Q1-2024 

Published by Danny Hakimian - CEO & Founder on
product update q12024

We're excited to share some significant enhancements to our Web Presence Review product. These updates are designed to continue helping to streamline and automate your merchant underwriting process. 

All the latest features are live for existing customers today within our Web Presence Review product all within the 30 second window, at no additional cost.

Let's dive into what's new this quarter.

Enhancements for Comprehensive Risk Assessment

  • Policy Analysis: Automatically analyze return, refund and other policies on the website to ensure compliance and gain insights into potential chargeback risks. This is especially crucial for assessing the chargeback risk profile of e-commerce businesses.

  • Brand Infringement Detection: Safeguard your portfolio with improved detection of intellectual property and brand infringements, aiding in the mitigation of legal risks. We've run deep analysis on the most commonly countefeiting goods on the internet and built in new protections against them.

  • Closing Indicators:  We ran a proprietary analysis of how a merchant's website and web presence performs prior to official closure and developed new signals off the back of this. These signals are now automatically highlighted for you to stay ahead of potential stress on a business by identifying signs that a business may be winding down, either temporarily or permanently. 

  • Country, Industry, and Content Risks: Benefit from an updated configuration options that provides a clearer distinction between what will result in a high risk flag versus a totally prohibited flag. For example, you can now distinguish between industries you want to result in High Risk flag e.g. pharmaceuticals vs a Prohibited flag e.g. Weapons. This enables cases to be triaged more effectively for further review.

  • Phone Analysis Enhancement: We've enhanced the way we verify the functionality of phone numbers found on the business' website and their connectivity to the business, adding an extra layer of verification to your assessments.

  • Industry & Content Analysis: We've made significant enhancements to how we analyze the industry and content of basic or newer websites. For some clients, we've seen a 20% increase in the coverage of our industry classification as a result of this work. In addition to the coverage improvements we've also started to run analysis on websites hosted on ecommerce platforms like Ecwid rather than having their own custom domain.

Performance and Integration Improvements

  • Speed Upgrade: Experience faster decision-making with a reduced average response time of under 15 seconds, ensuring you have the ability to action on our data and analysis while the merchant is still engaged in the application. 

  • PDF Download: Store a PDF copy of the results for your records, available via API and Portal, providing you with a convenient way to document and reference your assessments.

  • Webhooks: Stay updated in real-time with webhooks that provide notifications and updates, allowing for seamless integration with your existing systems.

  • API Documentation UI + Guides: Enjoy a more developer-friendly experience with our new user interface and guides, ensuring easy navigation and integration without any breaking changes.

We Value Your Feedback

Your feedback plays a crucial role in our product evolution. We encourage you to share your thoughts and any specific challenges you may have for future updates. We’re continuously improving our product to meet your risk and underwriting management needs more effectively.

If you have any questions about the latest release or future features, please feel free to reach out. If you're curious to learn more or see a demo please send me or your account manager an email -- book some time here.

Until next time!

Danny

About TrueBiz

TrueBiz is a Y Combinator backed startup that reduces manual review during merchant underwriting by automating analysis of the merchant's web presence.

In under 30 seconds, TrueBiz ingests data from the merchant's website and broader web presence to return a summary of their business model, a risk rating, and 250+ data points on the company from across the web (reviews, traffic, locations, connected entities).