Forter customer since 2017
Automating fraud to boost approvals & experience
Legacy fraud prevention system too slow and not always accurate
Rainbow’s rules-based approach to fraud prevention was slow and prone to false positives leading to declined transactions, unhappy customers, and lost sales.The company needed a fraud prevention solution that would help it efficiently deal with fraud.
Automated approach for high approval rate without increasing risk
Rainbow sought to automate 100% of the fraud prevention process in order to maintain a high approval rate without compromising decision accuracy. Rainbow also wanted to provide customers a seamless shopping experience and prevent fraud without adding friction.
Solution reduces friction and increases approvals
Forter’s Payment Fraud Protection Solution has elevated Rainbow’s approval rate to 99.3% and led to a 56% YoY chargeback reduction rate. With Forter, Rainbow completely automated the approve/decline decisioning at the point of transaction. The company also better understands how to address unique fraud pain points.
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