Forter
was named the leader in e-commerce Fraud Prevention and rated the
highest for Innovation in the 2020 Frost Radar in the U.S. e-commerce
Fraud Prevention Market. Compiled by leading analyst firm Frost &
Sullivan, the report highlights Forter’s real-time fraud protection
technology that protects merchants while delivering an optimal
experience at all consumer touchpoints.
“As e-commerce fraud continues to grow, the traditional approaches to
fraud prevention that focus on transactions are no longer effective in
stopping today’s sophisticated fraudsters,” said Vikrant Gandhi,
Industry Director, Information & Communications Technologies, Frost &
Sullivan. “Forter stands out in the industry for its ability to deliver
a broad array of fraud prevention solutions, including account
protection, payment protection, and policy abuse, protecting the entire
consumer journey with an enterprise-class platform.”
e-commerce Fraud on the Rise – Prevention Requires a New, Trust-Based
Approach
Global e-commerce sales are expected to surpass $4 trillion in 2020,
with the online environment as the preferred channel for fraudulent
activities.
In addition to credit card fraud, the Radar notes that data breaches
increasingly expose sensitive, personal information of millions of
consumers, which is being used for account take over (ATO) fraud.
According to the report, “protecting retailers from e-commerce fraud by
identifying high-risk transactions and supporting and protecting newer
service delivery experiences are the two key focus areas,” with a
critical emphasis on “the right balance between fraud management,
business revenue enhancement and customer experience.”
Forter – The Future of e-commerce Fraud Prevention
Forter has pioneered the industry’s only solution assessing trust at
every point in the consumer journey. The Forter platform, which annually
processes more than $150 Billion in e-commerce transactions, provides
the most comprehensive view of both legitimate consumer and fraudulent
behavior across enterprises and industries worldwide.
Forter competitive strengths as the industry Leader in the 2020 Frost
Radar are driven by:
-
Forter’s ability to offer highly integrated, data-driven and
customizable implementations that protect businesses during every
stage of the customer lifecycle in real-time; -
Forter’s vast global fraud network that has enabled it to acquire the
required data essential for delivering a breadth of differentiated
services natively on a single platform; -
Forter’s data sciences team and fraud domain experts who feed the
platform with new fraud attack methods to keep it ahead of fraudsters.
“The future of commerce is transforming from transactions into
relationships, every time, everywhere. By assessing trust at every point
of the customer journey and leveraging our global merchant network, only
Forter can provide retailers with the real time intelligence needed to
stop fraudsters in real time and enable the best consumer experience,”
said Michael Reitblat, co-founder and CEO, Forter. “Being named as the
leader in the Frost Radar further validates our approach in delivering
the industry’s only enterprise-class platform that helps retailers build
deeper customer relationships, eliminate fraud and unlock the promise of
commerce based on trust.”
To download a copy of the report, please visit www.forter.com/FrostRadar.
About Forter
Forter is the leader in e-commerce fraud prevention, annually processing
over $150 billion in e-commerce transactions and protecting over 600
million consumers globally from payment fraud, account takeover, policy
abuse, and more. The company’s identity-based fraud prevention solution
detects fraudulent activity in real-time, throughout all online consumer
experiences.
Forter’s integrated fraud prevention platform is fed by its rapidly
growing Global Merchant Network, underpinned by predictive fraud
research and modeling, and the ability for customers to tailor the
platform for their specific needs. As a result, Forter is trusted by
Fortune 500 companies, iconic retailers, online travel agencies, quick
service restaurants, on-demand services, and fast-growing start-ups, to
deliver exceptional accuracy, a smoother user experience, and elevated
sales with greatly reduced fraud.
Forter works with leading enterprise brands including Nordstrom,
Priceline, TGI Fridays, Instacart, and Away. The company is backed by
$100M of capital from top-tier VCs including Sequoia, NEA, and
Salesforce. For more information, visit www.forter.com.
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