Websites using Forter

Okay, let s break down Forter, a popular fraud prevention platform, covering its overview, revenue, alternatives, pricing, and customer care details.

Forter: Overview

Forter is a company that provides real-time, fully automated fraud prevention solutions for online businesses. Their core offering revolves around using machine learning and a vast global network to identify and block fraudulent activities across various touchpoints in the customer journey.

Here s a more detailed look:

• Focus: Forter primarily focuses on preventing various types of e-commerce fraud, including:
  • Account Takeover (ATO): Preventing malicious actors from gaining access to legitimate customer accounts.
  • Payment Fraud: Identifying and blocking fraudulent credit card transactions.
  • Policy Abuse: Identifying customers who are violating a company s terms of service (e.g., excessive returns, promo code abuse).
  • Identity Abuse: Preventing the use of fake or stolen identities.
  • Returns Abuse: Identifying and blocking customers abusing returns policies
• Technology:
  • Machine Learning: Forter s platform heavily relies on machine learning algorithms to learn from data and improve its fraud detection accuracy over time.
  • Global Network: Their vast network allows them to leverage data from numerous businesses to identify and block fraudulent patterns quickly.
  • Real-Time Analysis: Fraud decisions are made in real-time, minimizing disruption to the customer experience.
  • Automated Decisions: The platform automates most fraud decisions, freeing up internal teams and reducing manual review times.
• Target Audience: Forter primarily targets medium to large online businesses, including:
  • E-commerce retailers
  • Marketplaces
  • Travel companies
  • Digital services
  • Gaming companies
• Key Benefit: Forter s value proposition lies in its ability to protect revenue, minimize chargebacks, reduce false positives (legitimate transactions mistakenly flagged as fraud), and enhance the overall customer experience by reducing friction.

Revenue

Forter is a privately held company, so exact revenue figures are not publicly available. However, based on industry reports and funding rounds, they are considered a major player in the fraud prevention space, suggesting substantial revenue.

• Valuation: As of its latest funding round, Forter is valued at over $3 billion, which indicates a strong financial standing.
• Growth: The company has experienced rapid growth over the past few years, fueled by the increasing threat of e-commerce fraud and the demand for advanced fraud prevention solutions.

Alternatives to Forter

Several companies offer fraud prevention solutions that may serve as alternatives to Forter. Here are some of the most common:

• Riskified: A direct competitor to Forter, Riskified also uses machine learning for fraud detection and boasts a chargeback guarantee.
• Signifyd: Another popular option that uses machine learning and offers a chargeback guarantee.
• Sift: Focuses on digital trust and safety, with solutions for fraud detection, policy abuse, and account security.
• Kount (Equifax): Provides a suite of fraud prevention tools, including device fingerprinting, identity verification, and payment risk assessment.
• ClearSale: Offers a mix of automated and manual fraud review. They provide a chargeback guarantee for confirmed fraudulent transactions.
• DataVisor: Specializes in detecting sophisticated fraud attacks, particularly those targeting user accounts.
• LexisNexis Risk Solutions: Provides a range of risk management and fraud prevention solutions, with a strong emphasis on identity verification.
• MaxMind: A company that specializes in IP Intelligence and also provides fraud prevention tools that make use of IP addresses and location data.

Pricing

Forter does not publicly list its pricing, as it is typically tailored to the specific needs of each client. However, here s what we know about their pricing structure:

• Customized Pricing: Forter s pricing model is based on several factors, including:
  • Transaction Volume: The number of transactions processed through the platform.
  • Industry: Different industries may have different risk profiles, which can affect pricing.
  • Features: The specific features and modules implemented.
  • Chargeback Guarantee: If a chargeback guarantee is offered (like Riskified and Signifyd), the price will be higher.
• Enterprise Focus: Forter s pricing tends to be geared towards enterprise-level businesses with higher transaction volumes.
• Contractual Basis: Pricing is typically arranged on a contractual basis, with fees often structured as a percentage of transaction value, a flat monthly fee, or a combination of both.
• In general, Forter is often considered one of the more expensive options, reflecting its advanced technology and high-level performance.

Customer Care Details

Forter typically offers a comprehensive suite of customer support options. Here are some common aspects:

• Dedicated Support Managers: Most clients are assigned a dedicated account manager or support contact who serves as a primary point of contact.
• Implementation and Onboarding Support: Forter provides support to businesses during the initial implementation process, including system integration and setting up rules and workflows.
• Technical Support: Businesses have access to technical support to address any platform issues or technical questions.
• Knowledge Base: A knowledge base or help center may be available that includes documentation, tutorials, and FAQs.
• Training and Best Practices: Forter often offers training sessions and best practices guides to help businesses maximize the value of the platform.
• Monitoring and Reporting: The platform typically offers detailed reports and dashboards to track performance, fraud patterns, and key metrics.
• 24/7 Support: Depending on the service level agreement, 24/7 support might be available for critical issues.

Summary

Forter is a significant player in the e-commerce fraud prevention space, offering a robust, fully automated solution driven by machine learning. While their pricing might be higher, they position themselves as a leader in providing sophisticated fraud detection and reduction of false positives.

To determine if Forter is the right choice for your business, it s important to carefully assess your specific needs, budget, and the various alternatives available. It s also highly recommended to request a demo and get a custom quote from Forter before making a final decision.