Published:
October 21, 2024
Reading time:
4 minute read
Written by:
Forter Team
At Forter, we believe that identity is the common thread that connects payments, fraud, and abuse.
At the end of the day, to deliver great digital experiences, you need to know who you’re doing business with. We’re constantly developing new capabilities to improve digital commerce experiences, and we are excited for you to join us and explore what’s New at Forter for October 2024!
Enhancing Decision Accuracy
The stakes are high in digital commerce, and businesses need cutting-edge tools to combat fraud effectively.
And at Forter, we’re constantly updating our models and platform to keep your business safe from the latest and most sophisticated fraud attacks. Our team has been hard at work, with four primary updates to our models that improve and enhance accuracy and effectiveness.
- Expansion of Device Spoofing Detection: We’ve refined our detection methods to identify new technological toolkits fraudsters use for device spoofing. This enhancement increases our accuracy in detecting and preventing these attacks, protecting your bottom line.
- New Address Manipulation Logic: Fraudsters often manipulate address inputs to bypass detection. Our new logic boosts our ability to detect such attempts by over 15%, ensuring fraudulent transactions are stopped in their tracks.
- New Marketplace Collusion Model: With buyer-seller collusion accounting for up to 40% of marketplace fraud, our new model is designed to identify and mitigate this growing threat, providing more robust protection for marketplace customers.
- Dedicated Model for ATO Attempts at Login: Account Takeover (ATO) attempts continue to rise, impacting customer trust and revenue. Our new model specifically targets ATO log-in attempts, improving detection rates by over 6%.
Increasing Visibility & Control
Fraud and payments data is rich with valuable insights that your business can leverage to drive growth, enhance customer experiences, and make more informed decisions. Our new features provide even greater visibility and control over your data and decisions.
- Decision Explainability: We’ve enhanced Forter’s portal with new visualization tools that provide greater visibility into our risk decisions on transactions, allowing you to see the dimensions and attributes that influence approval or decline decisions. This transparency empowers you to better understand our decision logics and provides valuable insights that your team can leverage.
- AI Insights: Leveraging the power of Generative AI, our new AI Insights feature provides instant answers to your most pressing business questions. Whether you want to analyze chargeback rates by transaction value or identify countries with the highest promotion abuse, AI Insights delivers tailored dashboards with actionable data in seconds.
- Enhanced Analytics & Reporting: Enjoy deeper customer and performance insights with our new dashboards, designed to provide a comprehensive view of key metrics that impact your business.
- Account Insights: Access key metrics like approved logins, fraud prevention data, MFA rates, and ATO attempts, along with business data on customer retention, average order value (AOV), and cost savings to identify opportunities and enhance revenue.
- Payment Insights: Gain visibility into payment performance with metrics on authorization rates, completion rates, and revenue flow. From a single dashboard, quickly identify drop-off points, resolve issues, and boost transaction success.
Reducing Sign-Up Friction
A common challenge in digital commerce is balancing security and a seamless user experience. Overly strict security measures can deter legitimate customers, while relaxed protocols can invite fraud. Forter’s new tools strike the perfect balance.
- Policy Builder & Alerts for Identity Protection: Our latest feature allows you to create, modify, simulate, and enforce custom policies during the sign-up process, reducing fraud without adding unnecessary friction. Set alerts for specific policy thresholds to ensure optimal security and performance, all while maintaining a smooth customer experience.
Enterprise-Grade Partnerships
Forter is proud to serve the world’s largest merchants, and we’re continually investing to ensure we remain an enterprise-grade partner that meets your evolving needs. With this release, we’ve enhanced our offerings to better support industry leaders like you — demonstrating our ongoing commitment to global performance and security.
- AWS Retail Competency: We are proud to announce that we have achieved AWS Retail Competency, distinguishing Forter as the only fraud prevention partner to receive this distinction within AWS’s broader partner network. This allows AWS retail and CPG customers to seamlessly integrate Forter into their tech stacks and leverage AWS Marketplace for a streamlined procurement process.
- EU Data Center: With our new data center in Ireland, Forter now offers European customers enhanced control over their data, reduced latency, and compliance with GDPR best practices.
- Ping Identity Partnership: Our partnership with Ping Identity delivers a solution that balances robust security with a smooth user experience, preventing fraud while minimizing customer friction.
- Integration Center: Our newly launched Integration Center makes it easier for developers to integrate Forter’s solutions with improved documentation, resources, and support for a seamless experience.
“At IMPACT 2024, identity was a key theme for digital commerce leaders. From fraud and abuse to payments and customer experience, knowing who is behind an interaction is fundamental to every stakeholder,” said Eran Vanounou, chief technology officer, Forter. “We’re building on our deep and proven roots in fraud prevention to empower businesses with stronger identity intelligence, insights and accuracy to drive lifetime value and optimize the customer journey – all without introducing risk.”
— Eran Vanounou, Chief Technology Officer