Riskified (RSKD): AI Fraud Decisioning Expands Into ACH Payments

On its May 13, 2026 earnings call, Riskified (RSKD) management disclosed that the company's merchant-customized fraud decisioning system has extended into ACH payments, with three of the quarter's top 10 deals coming from this new use case. Deal size and the contribution to revenue or profit were not disclosed [1].

What Riskified's AI Actually Does

Riskified provides AI-driven fraud risk management to large e-commerce companies and other online merchants. Its flagship product, Chargeback Guarantee, evaluates transactions at the authorization stage: machine-learning models analyze a merchant's historical data and signals from Riskified's cross-merchant network, then return a real-time decision to approve, decline, or guarantee the transaction, with Riskified itself absorbing any resulting fraud loss. Riskified is paid based on the volume of merchant transactions it processes.

How the System Evolved: A Three-Year Timeline

• Nov 15, 2023 — After a large merchant suffered a fraud event, Riskified strengthened its monitoring and detection capabilities; management said the event weighed on that quarter's non-GAAP gross margin [6].
• Mar 5, 2024 — The system moved from after-the-fact fixes to proactive management, with a standing platform that automatically optimizes approval and chargeback rates on a per-merchant basis [5].
• Aug 14, 2024 — Riskified disclosed its first comparable, quantified pilot results [4].
• Nov 13, 2024 — The same system was extended to a traditional grocery merchant [3].
• May 14, 2025 — Coverage widened from a single merchant to a cross-merchant network, with the system identifying and blocking the spread of a coordinated, generative-AI-driven fraud ring [2].
• May 13, 2026 — The system extended into the ACH payments rail, a capability the company says it has now repeatedly validated as it enters new payment use cases [1].

Case-Level Results, Not Yet Company-Wide Proof

The quantified results disclosed so far are all case-level. In one pilot benchmarked head-to-head against a competitor's solution, Riskified cut fraud costs for a newly onboarded, multi-billion-GMV merchant by more than 20%, lifted its approval rate by more than 3%, and in segments where Riskified can influence the issuer's decision, raised authorization rates by more than 100 basis points [4]. Separately, a traditional grocery merchant cut fraud costs by approximately 40% after fully automating its fraud handling [3]. None of these figures disclose a baseline or measurement period, so they cannot be generalized to company-wide performance. The fact that three of this quarter's top 10 deals came from the ACH use case is the first commercial validation signal since the system entered the new payments rail [1].

The Gross-Margin Link Is Still Inferential

Lower fraud costs and higher approval rates would, in theory, reduce the fraud losses Riskified's guarantee business has to cover, lifting gross profit, while new signed deals would also spill over into revenue growth. But that connection remains directional rather than demonstrated: the one time management tied a gross-margin change directly to this system, it was to describe an isolated fraud event dragging down that quarter's non-GAAP gross margin — not a positive contribution from the system itself [6]. The new ACH-related deals also carry no disclosed contract value, so they cannot yet be translated into a revenue figure [1].

What's Confirmed, What Isn't

What can be confirmed is that this fraud decisioning system has evolved from a reactive tool addressing isolated fraud incidents into a core capability the company has repeatedly validated across new business lines and, now, new payment rails. What remains unconfirmed is its standalone contribution to Riskified's overall gross profit or revenue. Whether a future earnings call will attribute a specific ACH deal size or gross-margin change directly to this system remains to be seen.

Application Assessment

• Chargeback Guarantee Fraud Decisioning — Business role: Core | Deployment stage: Limited production | Scope: Multi-business/multi-region | Value type: Revenue-additive

Sources

[1] Drillr · Riskified Ltd. (RSKD) · 2026-05-13 · Earnings Call Quote: "Three of our top 10 deals this quarter were in the ACH space, featuring our largest new logo win."

[2] Drillr · Riskified Ltd. (RSKD) · 2025-05-14 · Earnings Call Quote: "we were able to see a specific organized fraud rate attack one of our merchants because of different anomaly capabilities we have on the cyber front, we were able to identify that."

[3] Drillr · Riskified Ltd. (RSKD) · 2024-11-13 · Earnings Call Quote: "We have helped this merchant reduce its fraud cost by approximately 40% by fully automating their fraud efforts"

[4] Drillr · Riskified Ltd. (RSKD) · 2024-08-14 · Earnings Call Quote: "we were able to reduce the merchants' fraud costs by more than 20% while simultaneously boosting their approval rate by over 3%"

[5] Drillr · Riskified Ltd. (RSKD) · 2024-03-05 · Earnings Call Quote: "And finally, we built out an automated performance management platform designed to optimize approval and chargeback rates per merchant in an automated and constant way."

[6] Drillr · Riskified Ltd. (RSKD) · 2023-11-15 · Earnings Call Quote: "the impact caused by this event contributed to our non-GAAP Q3 gross margin of 44%."