2017 Winner: Forter

2017 Winner: Forter

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Forter, a Tel Aviv, Israel-based technology provider, is one of a growing vanguard of companies offering an antifraud solution backed by a guarantee against chargeback costs. Apparently, its customers are impressed because they chose Forter in an online vote as the winner of the Best Mobile Solution for 2017. The company says it serves e-commerce and m-commerce merchants from a wide variety of verticals including luxury, digital goods, electronics, food and beverages, apparel, and travel. Its fraud prevention technology has been designed from the ground up as a mobile solution. Forter took a mobile-first approach to development, as opposed to the typical approach of taking e-commerce norms and adjusting them for mobile. The company felt this was essential to ensuring that its mobile offering has the same level of accuracy that characterizes its online fraud prevention solution. Mobile fraud detection is distinctly different from online fraud detection because the data available is very different—and that means that the fraud prevention methods devised for e-commerce aren’t a perfect fit for mobile. Forter says its “secret sauce” is its Integrated Intelligence—a unique combination of machine learning-driven AI with the research and analysis of its team of experts. Forter does not perform manual reviews since its solution is entirely automated, but it does have a large team of research analysts. Instead of making decisions about individual transactions, they draw on their experience in the fraud domain and engage in constant research into transaction data, consumer buying patterns, technological possibilities and the fraudster ecosystem, the company explains. They use all of this to continually improve the system and adapt it to meet the latest fraudster techniques. When it came to developing the mobile solution, this expertise was drawn together to create a deep understanding of the mobile channel and its norms, both those of genuine customers and of fraudulent ones. Mobile trends were analyzed separately, and research was done into finding data points unique to mobile and using them effectively. In this way, a mobile-first antifraud solution was created.

  1. Award Text 1 Customer Choice – Best Mobile Solution

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