Forter focuses on identifying fraud at the point of transaction. It uses cyber intelligence, risk management, feedback from its global merchant network, and behavioral data analysis to improve the accuracy of its machine learning-driven solutions.
Except for fraud prevention, Forter also offers ways to optimise customer experiences and minimise cart abandonment by reducing false declines and other friction points.
Its solutions include:
Payment Protection: Leverage a network of global merchant data to automated real-time decisions that save time and resources.
PSD2 Solution: Minimise friction by only applying 3D Secure when necessary. Maximise conversions with full PSD2 compliance.
Policy Abuse Protection: Identify and block abusers from returns, promotion, and reseller abuse.
Account Protection: Protect against identity theft, account takeover, and account opening fraud with advanced machine learning, continuous user authentication (from login to logout), and identity linking (uncovers hidden connections between digital identities).
Smart Routing: Recover legitimate transactions that have been declined by offering alternative payment processors or payment methods.
Forter Element: Uses its global data network of over one billion online shoppers to automate real-time fraud decisions and minimise false positives and chargebacks.
Market confidence in Forter’s offering is reflected in its triple unicorn status after a $300 million funding round in May 2021 valued the company at $3 billion. Investors include VC heavyweights like Tiger Global Management, Bessemer Venture Partners, Sequoia Capital and Salesforce Ventures.
CobbleWeb mainly uses Forter’s Account Protection service to prevent fraudulent account creation. It allows us to customise fraud prevention interventions according to each marketplace’s customer journey.
Delivery.com’s fast order fulfillment expectation of under an hour made it very difficult to manually manage fraud reviews. This resulted in significant losses due to chargebacks. They therefore decided to use Forter’s Payment Protection solution to scale the fraud review process.
Its real-time, fully automated, fraud evaluation and protection for every touchpoint along the customer journey, managed to minimise chargebacks without creating friction for shoppers.
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