Product Overview of Forter
Forter is a pioneering software as a service (SaaS) company that specializes in unifying identity protection, payments optimization, and fraud prevention within a single, comprehensive consumer authentication platform. Founded in 2013 by former Fraud Sciences and Israeli Army Intelligence unit members, Forter has established itself as a leader in the digital commerce security landscape.
What Forter Does
Forter’s primary mission is to ensure that legitimate consumers can complete their transactions seamlessly while blocking fraudsters and serial abusers. The company achieves this through the application of artificial intelligence (AI) and machine learning to analyze digital commerce interactions in real-time. This approach enables businesses to assess the trustworthiness of customers instantly, thereby enhancing the overall customer experience and preventing fraud.
Key Features and Functionality
1. Real-Time Decisioning
Forter makes decisions in under 400 milliseconds, allowing for fast and efficient transaction processing without delaying legitimate purchases.
2. Behavioral Analytics and Machine Learning Models
The platform uses behavioral analytics to monitor established shopping patterns and employs machine learning models to detect complex fraud patterns across vast datasets.
3. Identity Verification and Global Merchant Network
Forter leverages its extensive Identity Graph to identify and verify customers, even if they are new to a particular merchant. This network effect allows businesses to benefit from a collective intelligence gathered from over 200,000 trusted businesses.
4. Transaction Monitoring and Chargeback Protection
The platform continuously monitors transactions to prevent fraud and offers full restitution in the event of a chargeback, providing financial security to merchants.
5. Account Takeover Protection and Bot Detection
Forter includes robust features to defend against account takeovers, bot attacks, and unauthorized account sharing, ensuring the integrity of customer accounts.
6. Payment Fraud Detection and Policy Abuse Prevention
The platform is equipped with advanced tools to detect and prevent payment fraud, as well as policy abuse, protecting businesses from various types of fraudulent activities.
7. Customizable Rules Engine and Cross Channel Protection
Forter offers a customizable rules engine, allowing businesses to tailor the platform to their specific needs. It also provides cross-channel protection, ensuring security across multiple transaction channels.
8. Device Fingerprinting, Geolocation Analysis, and Risk Scoring
The platform uses device fingerprinting, geolocation analysis, and risk scoring to provide a comprehensive view of each transaction, enhancing the accuracy of fraud detection.
9. Fraud Insights Dashboard and API Integration
Forter provides a fraud insights dashboard for detailed analytics and supports API integration, making it easy to integrate with existing systems.
10. User Authentication and Anomaly Detection
The platform includes robust user authentication mechanisms and anomaly detection capabilities to identify and mitigate unusual transaction patterns.
By integrating these features, Forter’s Trust Platform enables businesses to offer a seamless, secure, and frictionless customer experience, leading to improved conversion rates, customer loyalty, and higher customer lifetime value.