Forter was named the leader in e-commerce Fraud Prevention and rated the highest for Innovation in the 2020 Frost Radar in the US 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.
Vikrant Gandhi, Industry Director, Information & Communications Technologies, Frost & Sullivan, said: “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. 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 $150bn in e-commerce transactions, provides the most comprehensive view of both legitimate consumer and fraudulent behaviour across enterprises and industries worldwide.
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