The following article provides an overview of the configuration options available for Instant Rate settings, a self-service feature available for programs in MySheerID. Instant Rate settings allow program administrators to have more control over decisions related to the balance between maximizing customer conversions and minimizing potential opportunities for abuse by bad actors.
This feature can be accessed by clicking the Settings tab at the top of MySheerID when your program is selected. It is available during new program creation as well as when modifying existing programs.
For information on a related self-service feature, see our article on Redemption Limits.
Accessing program settings
Once you have designed your program, navigate to the Settings tab at the top of MySheerID.
Configuring Instant Rate settings
Within the Settings area, click on the drop-down arrow next to Instant Rate to expand the settings for this feature.
This will reveal the following level options:
Default Setting
New programs will default to the Standard level. This setting is intended to provide a reasonable balance between maximizing consumer conversions and protecting against abuse.
Permissive
The Permissive level is optimized for our highest-possible instant verification rates and presents the least friction to consumers. Fewer consumers will be required to submit documents for review. As this setting is optimized for instant verification and maximum conversions, it also has the lowest level of protection against program abuse.
Standard
The Standard level will make use of our base set of fraud detection and mitigation protections. In comparison to the Permissive level, the Standard level will result in more consumers being rejected or sent to document review in order to increase the level of protection against program abuse.
Conservative
The Conservative level includes all the same protections utilized in the Standard level, as well as additional, more aggressive layers of protection. These additional layers of protection have the potential to block some legitimate consumers. This level is recommended if you have a higher sensitivity to abuse against your program.
Custom
The Custom level is for programs that require a more fine-tuned consumer experience. SheerID has a variety of additional settings and enhancements that can be utilized to maximize consumer conversion, optimize protection of your offer or reward, or achieve a unique balance between the two.
The Custom level is available only for accounts that have a Customer Success Manager (CSM). Contact your CSM to discuss your requirements and to receive assistance configuring your Custom Instant Rate settings.
Regular Improvements
SheerID is always working to improve both our fraud protection methodologies and our instant verification sources. Consumer conversion rates may fluctuate as improvements are released to the self-service Instant Rate levels (Permissive, Standard, and Conservative).
Contact SheerID or your CSM if you have questions or concerns regarding your conversion rates.
Reporting
As you adjust your Redemption Limit and Instant Rate settings, be sure to keep track of your key metrics within the MySheerID reporting module to ensure you are achieving the results you desire.