Forter Named The Leader in e-commerce Fraud Prevention in Frost & Sullivan 2020 Radar Report
- E-Commerce , Fraud Detection
- 08.01.2020 06:45 am
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 behaviour 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 customisable 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.”