Analyst firm Frost & Sullivan has named Forter as the leader in e-commerce Fraud Prevention and rated the group the highest for Innovation in the 2020 Frost Radar in the U.S. e-commerce Fraud Prevention Market.
The report cites Forter’s real-time fraud protection technology that protects merchants while delivering an optimal experience at all consumer touchpoints.
Vikrant Gandhi, Industry Director, Information & Communications Technologies, Frost & Sullivan commented: “As e-commerce fraud continues to grow, the traditional approaches to fraud prevention that focus on transactions are no longer effective in stopping today’s sophisticated fraudsters.
“Forter stands out in the industry for its ability to deliver a broad array of fraud prevention solutions, including account protection, payment protection, and policy abuse, protecting the entire consumer journey with an enterprise-class platform.”
It comes as global e-commerce sales are expected to surpass $4 trillion in 2020, with the online environment as the preferred channel for fraudulent activities.
In addition to credit card fraud, the Radar notes that data breaches increasingly expose sensitive, personal information of millions of consumers, which is being used for account take over (ATO) fraud.
According to the report, “protecting retailers from e-commerce fraud by identifying high-risk transactions and supporting and protecting newer service delivery experiences are the two key focus areas,” with a critical emphasis on “the right balance between fraud management, business revenue enhancement and customer experience.”