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In this episode of Fraudology, host Karisse Hendrick is joined by Patrick Chen, a product expert who has specialized in solving complex risk-related problems creatively with technology for some of the largest online companies & platforms in the world. All of those experiences led him to become the co-founder of Spec, a risk & compliance platform that allows its users to approach fraud, and ultimately their (legitimate) customers' experience in new ways.

This conversation begins with a discussion about the "problem space" in online commerce & financial services. While we've collectively come a long way from where we were as an industry, it's clear to a majority of fraud-fighters (including the host & her guest) that all of the tools & technology that got us here, will not be able to take us through the next 10-15 years. -At least not without more defeat to cybercrime year over year.

Patrick talks about his shared vision of Spec with his co-founder and team of employees, in providing an infrastructure that provides raw data & flexibility necessary for combating fraud. It's a solution they wish they had when they were working to build a risk infrastructure from the ground up at one of the largest online marketplaces in the world; all with less engineering resources & priority than they needed.

And then....Patrick shares the extended vision of the Spec platform, as a marketplace (or an "app store", as a comparison). He shares their belief in the need for intellectual property development & ownership in the industry (for fraud-fighters, by fraud-fighters), the opportunities for experienced fraud-fighters to design & benefit from new solutions on the Spec marketplace, and the importance of understanding different industries to effectively combat fraud.

Karisse then shares a "secret" she's been keeping for over a year, about the first independently designed module on the Spec marketplace; one that will provide transparency & autonomy to retailers targeted by refund claims fraud (aka- refund fraud). And, she can't wait to see the brilliant product ideas of innovative fraud leaders come to life to provide dashboards & actionable workflows to benefit the industry (and their own pocketbooks, directly!)

To connect with Patrick directly: https://www.linkedin.com/in/patrickchen30/

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

Connect with her on LinkedIn

She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.