Forter, the Trust Platform for digital commerce, announced new product capabilities as part of its latest release designed to enhance its AI-powered decisioning and performance, along with ecosystem updates that expand the company’s global reach. The updates deepen Forter’s identity intelligence to block more forms of fraud while optimizing the full customer experience.
“At IMPACT 2024, identity was a key theme for digital commerce leaders. From fraud and abuse to payments and customer experience, knowing who is behind an interaction is fundamental to every stakeholder,” said Eran Vanounou, chief technology officer, Forter. “We’re building on our deep and proven roots in fraud prevention to empower businesses with stronger identity intelligence, insights and accuracy to drive lifetime value and optimize the customer journey – all without introducing risk.”
To combat the scale and sophistication of fraud, Forter has expanded its machine learning models to detect more instances of fraud, including device spoofing and buyer-seller collusion. The company has also updated its models to identify 15% more instances of address manipulation and over 6% more account takeover (ATO) attempts at login.
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Forter has also enhanced its portal to provide greater visibility into its risk decisions on transactions. These updates empower users with insights into the key data dimensions influencing Forter’s decision logic. Forter’s investment both in this enhanced decision explainability, along with its recently released generative AI Insights capability, demonstrate Forter’s commitment to arming fraud teams with the full power and insight of the Forter network.
To better serve businesses and consumers around the world, Forter continues to expand its global ecosystem. Most recently, the company launched its new European data center in Ireland, giving customers more control over their data, strengthened confidence in their General Data Protection Regulation (GDPR) compliance, and risk mitigation risks associated with cross-border data transfers. Hosting data and services within the EU enhances overall performance and reduces latency so Forter’s European customers can provide a faster, more seamless experience to their users. This is particularly relevant in Europe, where the GDPR has become the global gold standard for data protection laws.
The company has also achieved its AWS Retail Competency, allowing Forter to provide AWS retail and Consumer Packaged Goods (CPG) customers with enterprise-grade identity intelligence and fraud prevention capabilities. Achieving this status required passing a rigorous technical validation based on the AWS Well-Architected framework. This milestone, part of Forter’s broader alignment with AWS, includes Forter’s listing on the AWS Marketplace and its recognition as an Advanced Technology and ISV Accelerate Partner. Among the tens of thousands of partners supporting the retail industry, roughly 100 AWS Partners have achieved this specific AWS Competency.
SOURCE: PRNewswire