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INTERNET | Internet Software & Services / Monitoring & Security
forter.com

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Founded Year

2013

Stage

Series F | Alive

Total Raised

$525M

Valuation

$0000 

Last Raised

$300M | 5 mos ago

About Forter

Forter provides a plug-and-play, anti-eCommerce fraud solution technology that automates the review process by instantly analyzing profile data, behavioral data, and cyber intelligence, enabling the ability to decline fraudsters and approve consumers in real-time.

Forter Headquarter Location

575 Fifth Ave. 9th Floor

New York, New York, 10017,

United States

800-537-0601

Latest Forter News

COMMENTARY: The Holidays Are Coming, But Transaction Fraud Doesn’t Take Holidays

Oct 1, 2021

Since the global pandemic turned the world upside down, millions of consumers have taken their in-person shopping habits online. Fraudsters have noticed this shift in consumer shopping behavior and are capitalizing on it by trolling and exploring vulnerabilities throughout users’ entire online shopping journeys. While the holidays may seem far off, if your current fraud-prevention solution can’t handle the four items listed below well or at all, you should start upgrading your systems now, in time for the 2022 holiday season. Saying ‘yes’ to your new users On top of the existing rise in new online shoppers as a result of quarantines and store closures, we will likely see a further increase around the holidays. Unfortunately, many merchants unknowingly turn away new customers because they use fraud-prevention solutions that have limited visibility into customer identities. In fact, new users are five to seven times more likely to be falsely declined than returning customers because of a lack of data. Montero: “Cybercriminals don’t take holidays.” When businesses wrongly decline new users, they often miss opportunities to convert them into buyers—and, possibly, loyal lifetime customers. They need to ensure their system has access to a larger external network of identity data so that it can distinguish between new legitimate users and fraudsters. Offering same-day delivery and pickup Many consumers have embraced convenient delivery options like same-day delivery and buy online pickup in-store (BOPIS). During the 2020 holiday season, stores that offered convenient services like BOPIS saw their sales rise 49% on average over 2019, while stores that didn’t offer these options saw about a 28% rise. Retailers need to offer their customers fast and convenient delivery options year-round, and especially during the holiday season. But they can’t without an automated fraud-prevention solution. Legacy solutions that rely on rules and manual reviews can’t evaluate transactions fast enough to offer these services. Preventing account takeover If retailers fail to maintain the trust of their customers, those customers will shop elsewhere. And maintaining trust involves protecting customer accounts. However, fraudsters often obtain account usernames and passwords through dark Web marketplaces and phishing attacks. Without the right fraud-prevention solution, these cybercriminals can take over accounts completely unnoticed. Businesses need a fraud-prevention solution that can block automated account takeover (ATO) attacks and can detect when an account has been compromised. And that solution must detect ATO fast. Once fraudsters take over an account, they act quickly. In fact, 40% of the fraudulent activities that occur with an ATO happen within 24 hours. Identifying returns abuse Most consumers expect merchants to offer convenient and flexible return options. So offering customers convenient ways to return merchandise, especially those looking to buy gifts, can increase customer loyalty and improve the overall experience. However, the holidays bring out policy abusers and fraudsters. In 2020, fraudulent holiday returns to U.S. merchants totaled about $10.2 billion. Legacy fraud prevention solutions can prevent basic returns abuse, but they aren’t sophisticated enough to prevent omnichannel abuse like buy online, return in-store fraud. It is critical to ensure that all forms of fraud are monitored, not just fraud exclusive to the virtual or e-commerce environment. Next-generation systems are designed to monitor all potential fraudulent transactions. To conquer holiday and overall fraud threats, retailers should seek out a fraud-prevention solution that allows them to seamlessly enforce their returns policy across all types of purchases. Cybercriminals don’t take holidays. However, retailers can certainly make criminals’ malicious endeavors far less fruitful by ensuring their organizations’ fraud-prevention plans and solutions take into consideration all of the factors noted here. —Andrea Montero is director of product management at Forter, New York, N.Y.  Share

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Research containing Forter

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Forter in 4 CB Insights research briefs, most recently on Oct 5, 2021.

Expert Collections containing Forter

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Forter is included in 6 Expert Collections, including E-Commerce.

E

E-Commerce

8,739 items

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

U

Unicorns- Billion Dollar Startups

863 items

P

Payments

1,618 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

2

2018 Fintech 250

250 items

250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

T

Tech IPO Pipeline 2019

286 items

Forter Patents

Forter has filed 1 patent.

The 3 most popular patent topics include:

  • Data management
  • Information technology management
  • Internet culture
patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/8/2016

8/1/2017

Rules of inference, Data management, Information technology management, Transaction processing, Internet culture

Grant

Application Date

1/8/2016

Grant Date

8/1/2017

Title

Related Topics

Rules of inference, Data management, Information technology management, Transaction processing, Internet culture

Status

Grant

Forter Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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