Forter Expands Industry-Leading Fraud Prevention Technology
NEW YORK, November 16, 2017 – Forter, the first e-commerce fraud prevention company to provide approve or decline decisions for all online transactions in real time while completely protecting merchants with a full chargeback guarantee, today announced the launch of its End-to-End Identity-based Fraud Protection solution. The new offering makes Forter the only company to go beyond transactions and chargeback coverage to protect every stage of the consumer lifecycle.
In addition to monitoring individual online purchases for suspicious activity, the End-to-End solution will give merchants insight into their customers’ buying history and preferences across multiple accounts and devices to catch fraudsters before they strike and reduce undesirable behaviors. Now, merchants will be able to receive notifications of fraud like account takeover, coupon/promo abuse, referral abuse, loyalty program abuse and multiple account creations in real time as they occur – well before checkout. As the most comprehensive fraud protection available, Forter provides real-time, post-transaction decisions that help customer service teams determine which claims – like returns or requests for account credits – are legitimate.
“Identity data breaches, such as the most recent Equifax breach, have unfortunately become the new norm and require a completely different way of thinking for merchants and consumers to protect themselves,” said Michael Reitblat, CEO and Co-Founder of Forter. “The End-to-End solution is a game-changer because it allows merchants to understand the entirety of consumer interactions without simply focusing on information available at the moment of checkout. That means a fraudster attempting to commit account takeover would be identified long before they even attempted to make a purchase. The result is more holistic, accurate, frictionless fraud prevention that strengthens the relationship between the merchant and customer.”
The solution will be offered alongside Forter’s unmatched suite of pre-existing capabilities, including Decision as a Service™, which automatically approves or declines each transaction in milliseconds while providing a completely frictionless customer experience. Through its identity-based platform, Forter combines constant human research and the power of machine learning to create a highly accurate fraud prevention system that’s effective for any industry at any scale.
Since launching the End-to-end solution in beta in the first half of 2017, Forter has doubled its customer base – in part, due to the expanded offering that is tailor-made for each merchant’s unique needs. Fortune 500 retailers, online travel agencies, fast-growing e-commerce companies and emerging digital disruptors rely on Forter’s services to instantly detect and prevent fraud, reduce overhead with chargeback guarantees, create a smoother checkout experience and foster customer trust.
This announcement follows a groundbreaking year for Forter, during which the company processed more than $20 billion in transactions and released its 5th Global Fraud Index with the next report planned for November 2017.
Forter, the leading e-commerce fraud prevention company, immediately approves or declines all online transactions while providing full chargeback coverage. In addition, Forter’s End-to-End Identity-based fraud prevention solution protects merchants during each stage of the customer lifecycle with real-time notifications of fraud instances beyond transactions, such as account takeover and coupon abuse.
Forter’s solutions are powered by a unique blend of artificial intelligence and human analysis that results in exceptional accuracy, increased approvals for online merchants, a smoother checkout experience for consumers, and the near elimination of false positives – meaning more sales and happier customers at a much lower cost.
Forter processes more than 1 billion transactions each year and has raised more than $50 million in VC funding from companies like Sequoia Capital, Scale Venture Partners and NEA.
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