Zoot, a global provider of advanced instant credit decisioning, risk management, loan origination, workflow and case management solutions announced today that Rakuten, one of the world’s leading Internet service companies, has significantly increased profitability by reducing risk and improving acceptance rates using Zoot’s credit decisioning service.
Rakuten selected Zoot’s zDecision solution and credit risk management tools to facilitate both business and consumer credit decisioning for Rakuten’s marketplace of e-commerce companies in Germany. The platform has been in production since July 2014 and has proven its value by significantly lowering cost per transaction, improving acceptance rates and decreasing bad debt.
“Zoot was able to deliver our platform within eight weeks from contract signing to production allowing us to rapidly capitalize on the benefits of our new system,” said Wolfgang Kraus, risk manager for Rakuten. “The flexibility and control Zoot’s tools and services give to our risk management department allow us to offer customers the payment method they desire, without increasing our exposure to undue risk.”
Rakuten selected Zoot’s zDecision solution and risk management tools to optimize Rakuten’s decision-making processes for its European e-commerce merchant marketplace. “The ability to make changes on our credit risk policy without the assistance of the IT department was a key factor in Rakuten´s choice for Zoot,” said Kraus.
Rakuten has a strong focus on bringing e-commerce merchants and consumers together. Optimizing customer offers has dramatically improved the customer experience and driven profitability for Rakuten. Zoot helps power such e-commerce solutions by ensuring high-availability and a fully-staffed 24/7 support helpdesk.
“Rakuten has a unique business model that combines technology and business relationships into a very special online shopping experience,” said Mischa Schmierer, vice president solutions and services for Zoot. “Zoot is proud of this successful partnership that further solidifies Rakuten’s reputation as one of the top e-commerce companies in the world.”