Forter has announced new product capabilities in the October release of its platform. Key among those new capabilities are enhancements to its AI decisioning to increase accuracy as it delivers enhanced decision accuracy to combat fraud. It also deepens its identity intelligence as the company looks to block more forms of fraud.
Eran Vanounou, Chief Technology Officer at Forter, said, “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.
“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 optimise the customer journey – all without introducing risk.”
What is in the October 24 release?
The company has updated several areas. It has enhanced decision accuracy, increased visibility and control, reduced sign-up friction, and added more enterprise-grade partnerships. Many of these are significant improvements that enable customers to use the platform to improve their digital commerce.
Enhancing Decision Accuracy
There are four key updates to Forter’s machine-learning models. They all improve the ability to increase detection of different types of fraud and take actions. The company lists them as:
- Expansion of Device Spoofing Detection: We’ve refined our detection methods to identify new technological toolkits fraudsters use for device spoofing. This enhancement increases our accuracy in detecting and preventing these attacks, protecting your bottom line.
- New Address Manipulation Logic: Fraudsters often manipulate address inputs to bypass detection. Our new logic boosts our ability to detect such attempts by over 15%, ensuring fraudulent transactions are stopped in their tracks.
- New Marketplace Collusion Model: With buyer-seller collusion accounting for up to 40% of marketplace fraud, our new model is designed to identify and mitigate this growing threat, providing more robust protection for marketplace customers.
- Dedicated Model for ATO Attempts at Login: Account Takeover (ATO) attempts continue to rise, impacting customer trust and revenue. Our new model specifically targets ATO log-in attempts, improving detection rates by over 6%.
Increasing Visibility & Control
Detecting fraud is only part of the process. It is important that organisations analyze that data to make better decisions. It also gives security teams more opportunity to detect how frauds are carried out and adjust controls accordingly. Forter has added five capabilities in this area and the most interesting one is explainability, which addresses a number of compliance requirements. The additional capabilities are:
- Decision Explainability: Forter’s portal has been enhanced with new visualization tools that provide greater visibility into risk decisions on transactions. It shows the dimensions and attributes that influence approval or decline decisions. This transparency empowers a better understanding of Forter’s decision logics and provides valuable insights that customer teams can leverage.
- AI Insights: Leveraging the power of Generative AI, the new AI Insights feature provides instant answers to a customer’s most pressing business questions. Whether they want to analyze chargeback rates by transaction value or identify countries with the highest promotion abuse, AI Insights delivers tailored dashboards with actionable data in seconds.
- Enhanced Analytics & Reporting: Enjoy deeper customer and performance insights with new dashboards. These are designed to provide a comprehensive view of key metrics that impact your business.
- Account Insights: Access key metrics like approved logins, fraud prevention data, MFA rates, and ATO attempts, along with business data on customer retention, average order value (AOV), and cost savings to identify opportunities and enhance revenue.
- Payment Insights: Gain visibility into payment performance with metrics on authorization rates, completion rates, and revenue flow. From a single dashboard, quickly identify drop-off points, resolve issues, and boost transaction success.
Reducing Sign-Up Friction
Build it and they will come, is not a strategy for online commerce. Customers want a smooth, seamless, painless experience. If it is hard to use, connect to and check out, they will go elsewhere. One of the hardest things to do is match security with ease of use. If it is too strict, it becomes difficult to use. If it is too loose, it is open to abuse and fraud.
To address that, Forter has made it easier to create integrated policies that link to identity protection. The release notes say:
Policy Builder & Alerts for Identity Protection: Our latest feature allows you to create, modify, simulate, and enforce custom policies during the sign-up process, reducing fraud without adding unnecessary friction. Set alerts for specific policy thresholds to ensure optimal security and performance, all while maintaining a smooth customer experience.
Enterprise-Grade Partnerships
The last area of improvement is a set of new enterprise-grade partnerships. These range from gaining competency from AWS to improved identity management with Ping Identity. The most interesting one here is the integration centre. Online commerce often means integrating with a wide range of other applications. Making it easier for developers to integrate with those products makes sense.
- AWS Retail Competency: We are proud to announce that we have achieved AWS Retail Competency, distinguishing Forter as the only fraud prevention partner to receive this distinction within AWS’s broader partner network. This allows AWS retail and CPG customers to seamlessly integrate Forter into their tech stacks and leverage AWS Marketplace for a streamlined procurement process.
- EU Data Center: With a new data centre in Ireland, Forter now offers European customers enhanced control over their data, reduced latency, and compliance with GDPR best practices.
- Ping Identity Partnership: The partnership with Ping Identity delivers a solution that balances robust security with a smooth user experience, preventing fraud while minimizing customer friction.
- Integration Center: The newly launched Integration Center makes it easier for developers to integrate Forter’s solutions with improved documentation, resources, and support for a seamless experience.
Enterprise Times: What does this mean?
This appears to be a good set of upgrades by Forter. Improving decision-making in its models, including the ability to understand decisions better, will play well with customers. Making it easier to detect more types of fraud is also good news. Cybercriminals quickly adopt new techniques so that the faster customers can detect them, the better.
Allowing that detection to flow through to control and other areas is also a bonus. It means organisations can improve their ability to counter fraud and other attacks, raising their security and reducing their risk.
Retaining customers requires making it easier to add customers and simplifying the overall user experience.
It will be interesting to see what happens in the next major release, which is due in October 2025. Will Forter continue tweaking this new functionality further, or will it add new areas of functionality?
