Forter platform is a top-class fraud prevention solution that helps online retailers meet operational challenges. It offers guaranteed, instant decline or approval decisions for every single transaction of the user by removing the burden and ambivalence of fraud.
This tool is explicitly built to track all orders and ensure higher approval rates and easy-flowing checkouts.
Forter is extremely useful as it acts as a fraud prevention tool for online retailers. The technology is especially helpful for retailers as it answers promptly on each payment transaction whether it is fraudulent or not. This tool utilizes behavioral data analysis and cyber intelligence to create fraud detection technology. It offers prompt and automated decisions as a service module to prevent fraud.
Forter makes fraud prevention straightforward by terminating the requirement for manual scores rules or reviews.
The platform’s main objective is to assist online retailers in preventing fraudulent activities from happening. To attain this objective, it makes the shopping experience secure and easier, which helps to improve revenue.
Overview of Forter
Forter is the leader in e-commerce fraud prevention, protecting over $150 billion in online commerce transactions for over 620 million consumers globally from credit card fraud, account takeover, identity theft, 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. This is underpinned by predictive fraud research and modeling, and the ability for customers to tailor the platform to their specific needs. As a result, it is trusted by Fortune 500 companies to deliver exceptional accuracy, smoother user experience, and elevated sales at a much lower cost.
The platform’s Fraud Prevention Platform extension empowers merchants with the only enterprise-grade platform for managing fraud and abuse. The API-based extension provides merchants with fully automated and highly accurate real-time approve/decline decisions, eliminating rules, scores, and manual reviews. The extension works by interacting mainly with the order and payment models, sending a transaction to Forter for validation to receive approval to invoice and capture, or declining which leads to canceling or further review.
The configuration is flexible and certain merchants may adjust their store’s backend codebase.
Forter’s extensions have no negative impacts on the merchant’s site. Each merchant will be able to run and operate their business, as usual. This is augmented by leveraging Forter’s exceptional accuracy which provides for a smoother customer experience and elevated sales.
Forter’s Products
Fraud Management
Fight fraud, increase approvals, and reduce chargebacks. Maximize revenue, approve more customers, and accelerate growth with instant fraud decisions. Reduce chargebacks and false declines by up to 90% and deliver a superior customer experience.
Approve more with confidence
Merchants can lose up to 75x more revenue to false declines than to fraud, so ensuring your fraud solution doesn’t over-rotate on fraud prevention and delivers the highest approval rate is more critical than ever.
The Forter Decision Engine, powered by 1.2B+ identities in our cross-merchant dataset, makes instant assessments of trust at checkout. Our technology uses the speed of AI to make decisions, the sophistication of machine learning to detect patterns across vast datasets, and the savvy of fraud experts to continuously update our models. Eliminate false declines and allow more good buyers in while keeping fraud out.
Eliminate fraud costs
Don’t let fraud impact your bottom line. Forter accurately identifies and blocks known and new fraudsters with similar patterns, ensuring you significantly reduce chargebacks and protect your revenue. You can further reduce chargeback costs by leveraging Smart 3DS to shift chargeback liability to the issuing banks.
Unlock seamless scalability
The Forter Decision Engine enables us to deliver accurate, real-time decisions for known and unknown forms of fraud in real-time so merchants can scale seamlessly to meet any burst in demand and accommodate growth without additional resources. Enter new markets, accept new payment methods, and support omnichannel experiences without increasing fraud.
Support all payment methods
Instant approve/decline decisions on payment transactions. This includes credit, debit, and prepaid cards plus stored value payments, digital wallets, BNPL applications, bank redirects, bank transfers, and more.
Chargeback Recovery
Automate representment, streamline operations, and improve win rates. Combat chargeback fraud and increase win rates with fully automated chargeback recovery.
- Consolidate all claims data in a single dashboard: Automatically link claims to order data and eliminate the need to analyze chargeback data from multiple, disparate systems
- Receive actionable insights and dispute recommendations: Instantly pinpoint the transactions you should dispute based on the identity behind the chargeback and view a clear recommendation — dispute, do not dispute, provide more evidence — or automate the recovery process
- Leverage pre-populated templates and automate the recovery process: Streamline operations with pre-populated templates and representment letters to file claims faster and automate the representment process
- Track and monitor all claims: Leverage reporting to monitor claims and track your claim status, win rate, performance analytics, and more, all within a single portal.
- Increase win rates: File more claims faster, and tackle criminal and friendly fraud holistically to win far more disputes
- Recover lost revenue: Avoid back-and-forth with processors—we make sure every claim has all the necessary information to win
- Improve operational efficiency: Collect every insight and track every claim via one centralized dashboard.
Abuse Prevention
Identify and stop abuse at the source to protect revenue while maintaining a quality brand experience for your genuine customers.
Cut the cost of abuse: Consumer abuse is growing exponentially, and businesses are losing billions of dollars every year. Protect your profit margins with real-time, identity-based decisions that recognize repeat behavior and cut off abusers at the start.
Cover every point of the journey: By leveraging our identity graph and network effects, we help you create and automatically enforce your business policies across all channels and interactions.
Enhance brand loyalty: By creating protective policies, you can deliver the shopping experience customers love with personalized promotions, loyalty programs and brand perks.
Payment Optimization
Minimize friction, maximize conversions, and maintain PSD2 compliance. Optimize payment decisions to improve conversion rates and shift chargeback liability. Maximize conversions across the payment ecosystem with Forter Payment Optimization.
- Increase authorization rates: Leverage Forter’s banks’ partnerships to build trust with issuers and card networks so you can reduce false declines and approve more of your genuine customers.
- Approve borderline transactions: Forter’s Smart 3DS is the only product on the market that can leverage intelligent decision-making to help you approve more borderline transactions that would have otherwise been declined, thus increasing your conversions and revenue.
- Shift chargeback liability: Forter’s Smart 3DS feature makes intelligent decisions about when to route transactions through a frictionless 3DS experience so you can benefit from a significant chargeback liability shift to protect your revenue while maximizing your authorization rate.
- Optimize conversions under PSD2 regulation: Forter’s PSD2 solution makes it easy to optimize transactions under PSD2 regulations so you can minimize friction, reduce cart abandonment, and maximize your conversions.
- Issuer Optimization: Forter shares insights with issuing banks and card networks, such as CapitalOne, Visa and Mastercard. This influences their risk decisions and increases your authorization rates.
- Tokenization: Forter provides a processor-agnostic tokenization solution that helps manage your consumers’ credit card data while still providing you with the flexibility to work with any PSP/Gateway.
- Smart 3DS: Intelligently apply 3DS to approve more borderline transactions and shift chargeback liability. Apply 3DS only when it will increase the chance for the transaction to be successful, instead of relying on basic 3DS rules that will add friction for good consumers.
- PSD2 Optimization: Optimize your transactions under PSD2 regulations. Avoid friction by maximizing exemptions, minimizing 3DS cart abandonment, and driving more conversions.
Identity Protection
Block fraudsters earlier in the customer journey. Stop account takeovers and block the creation of fake accounts to protect account integrity and drive customer loyalty.
Stop Account Takeovers
Account takeover attempts increased by 79% last year. Forter Identity Protection detects account takeover attempts in real-time at sign-in and at other critical points before a transaction is initiated. This includes account profile modifications, loyalty point withdrawals, and transfers.
Block fake account creation
Attempts to create fake and duplicate accounts are on the rise. These accounts are ultimately used by both fraudsters and legitimate customers to perpetuate fraud like card testing, fraudulent earning of incentives, and more.
Forter Identity Protection works by understanding the “who” behind a transaction and helps to keep your platform secure. It blocks bad actors and ensures that legitimate customers honor preset limits for the number of accounts they can create.
Balance security and customer experience
Keep your customer data and loyalty programs secure without adding excess friction for your good customers. Forter Identity Protection allows you to reduce your reliance on MFA to cases only when it is absolutely necessary to verify an identity.
Forter Element
The Forter Element is built for payment service providers to offer their customers differentiated value. It lets them stand out with easy, accurate fraud prevention.
Approve more transactions for you and your clients with automated, real-time fraud decisions.
- Guaranteed accuracy: Minimize false positives and chargebacks by up to 90% while still approving more transactions. Decisions are backed by an optional chargeback guarantee.
- Provide easy onboarding and maintenance for your clients: Directly integrate one time to enable Forter for all of your merchants and remove the burden of manual reviews and rules.
- Gain visibility through reporting and analytics: Analyze merchants’ authorization rates, chargebacks and payment method trends by geo location. Leverage these customer insights and feedback to improve model performance.
- Optimize 3DS authorizations: Smart 3DS decision-making and execution that minimizes friction for customers. It improves issuer authorization and increases successful Transactional Risk Analysis while maintaining compliance.
Forter’s Features and Benefits
- A Fully Integrated Fraud Prevention Platform: A single, comprehensive solution to protect your business against all forms of fraud and abuse.
- Full Automation: Full automation means no more manual reviews and no delays to fulfillment.
- Real-time Approve/Decline Fraud Decisions: Instant decision-making on all transactions enhances the customer shopping experience and augments your business.
- Tailored to Your Needs: Your fraud prevention solution will be tailored to your specific business needs while your team provides ongoing feedback to the Forter team. This ensures a fully optimized and tailored fraud prevention solution.
- Full Fraud Chargeback Guarantee: 100% of approved transactions are covered by a full fraud chargeback guarantee.
- Enforce Your Business Policies: Forter has the ability to enforce identity-based business rules on top of the statistical model. Its business utility service is used to enforce any business policies you may require.
- Built for Growth: A fully automated fraud prevention system means your fraud protection scales as you do. Across today’s omnichannel, multi-device reality, no matter the season, flash sales, or explosive growth.
- The Forter Decision Dashboard: Get deeper insights into individual transactions, incidences of fraud, customer and business trends, and various business KPIs available in one, easy-to-use Dashboard.
- Account-level Fraud-related Insights: Access an array of more comprehensive fraud-related insights. This includes identifying referral fraud, coupon abuse, account takeovers (ATO), loyalty fraud, and more enhancing your view into your business ecosystem.
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