“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.”
Securing the leadership position in the Frost Radar for e-Commerce Fraud Prevention underscores Forter’s innovative and unique approach to fraud prevention. The report reviewed the current state of the e-commerce market and how fraud prevention providers enable merchants to mitigate fraud and abuse.
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 Leads the Way
Forter has pioneered the industry’s only fraud prevention 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’s 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.
Michael Reitblat, co-Founder and CEO of Forter, notes that, “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.
“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.”
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