Forter

Name of the product or service

Trusted Conversions

Votes: 32

Product or service description

Forter Trusted Conversions is Forter’s targeted offering to deal with Fraud. Forter Trusted Conversions makes precise decisions about an individual’s trustworthiness based on a near instant assessment (and linking) of 1B+ personas in our cross-merchant dataset. Our approach helps merchants to substantially reduce false declines and increase revenue. We prevent ATO at checkout, navigate 3DS and align decisioning with issuing banks to drive more efficiencies and better eCommerce outcomes.

Distinction from the competition

Forter Trusted Conversions maximizes genuine customer experience and lifetime value by making precise decisions about customer trustworthiness at critical interactions. Forter Trusted Conversions makes those decisions with more accuracy and speed than any other vendor—more than 10,000 businesses benefit from our technology, representing $250 billion in annual gross merchandise volume.

We deliver differentiated outcomes through our:

Persona Graph: Forter has built a dataset of one billion personas. For every interaction, we look across this vast network to see if we ‘know’ the persona. This allows for instant, precise decisions that require no third party augmentation of IP address, device fingerprinting or other data

Machine Learning: Forter applies machine learning to deliver decisions that are 100% automated, with response times under 400 milliseconds at the 95th percentile. Since we have no dependency on manual reviewers, we scale seamlessly as you grow.

Trusted Policies: Forter sits at the intersection of advanced technology and human expertise. Fraud researchers study emerging tactics and issues to refine our models and prevent (rather than react to) attacks. And Customer Success Managers work to understand your objectives and tolerances, to tune your implementation and ensure exceptional outcomes.

Product or service innovations

In October 2022 Forter launched Smart Claims, a new product offering designed to help businesses manage chargebacks more effectively. By connecting order and claims data across different payment systems into a single, consolidated view, Smart Claims enables merchants to resolve chargeback disputes more intelligently and efficiently, improve win rates and recover lost revenue. 

Forter’s leading fraud prevention solution (Trusted Conversions) and chargeback recovery solution (Smart Claims) help you drive material business outcomes.

Go beyond fraud protection to approve more legitimate transactions and streamline the review and representment process for all chargebacks.

Stop fraud, reduce false declines and chargebacks by up to 90%, and intelligently resolve chargebacks to recover lost revenue.

Reduce your fraud rate and fight chargebacks all from one consolidated dashboard.

Customer case study

Increased Trust Helps ASICS Build a Premium Brand and Customer Experience

The challenge

ASICS is a leading provider of performance athletic footwear, apparel, and accessories, operating in more than 50 countries globally. Over the past 18 months, ASICS has transformed the business to reinforce its position as a premium brand and to create a seamless shopping experience, whether in-store or online. While this transformation has generated triple-digit growth, a legacy approach to fraud prevention caused business problems and increased customer friction. Traditionally, the company relied on the customer service team to manually review transactions based on a set of rules. During this time, the influx of new shoppers overwhelmed the manual review process resulting in more false declines and frustrated legitimate customers who flooded customer service with complaints.

The solution

After evaluating potential options, the ASICS team realized they needed an automated approach to fraud prevention that could scale to meet future growth and accommodate new services like buy online and return in-store (BORIS). By implementing Forter’s Trusted Conversions solution, the company has automated 100% of the online transactions. By combining AI technology with a vast network of global merchants, Forter has enabled ASICS to quickly identify legitimate customers with greater confidence, increasing approval rates while also decreasing false declines and chargebacks.

The results

Approvals - Approval rate increased from 95% to 99.52%. Declines reduced by 4.52%

Chargebacks - Monthly chargebacks decreased by 90%. $250,000+ in pending penalties from Visa and Mastercard avoided.

Operations - Approach to digital commerce resulted in 11x ROI. ASICS teams spend the absolute minimum amount of time managing chargebacks, so they can focus entirely on keeping customers happy and engaged.

Positive feedback & testimonials

“We want to exude trust for our customers—we want to be an enabler of purchases. Fraud has gone away and customers feel welcome on our site.” Eric Lorenz, VP of Finance and Operations at Priceline.

“Making the right fraud management decisions gives you peace of mind. I don’t have to think about fraud.” Jenna Flateman-Posner, VP of Digital at Snipes

Website

www.forter.com


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