NEW YORK--(BUSINESS WIRE)--Forter, the Trust Platform for digital commerce, has been recognized as the “clear leader” in the Frost and Sullivan Radar Report for Online Fraud Prevention. This is the definitive report for the category of digital commerce enablement, and Forter was differentiated by the breadth of its global network and its advanced technology.
The report noted: “Identity-based decisions, first party data sets, uncovered business model, enhanced business insights, lower cost structure and streamlined authentication have helped Forter convincingly maintain its overall market leadership position.”
This recognition is one of many to kick off 2022. Earlier this year, Forter marked a milestone, having processed more than $500 billion in gross merchandise value (GMV) since its founding in 2013. In the past 12 months, Forter processed $246 billion in GMV, including more than $100 million in GMV in each of 50+ countries. Forter’s machine learning uses this dataset to inform more accurate and expedient decisions about every interaction along the digital commerce journey, from pre-purchase to checkout to post-purchase.
Forter offers a holistic platform to the world’s largest online businesses. Forter’s technology enables these businesses to increase transaction approval rates, grow revenue and improve customer experience. This is made possible by Forter’s ability to pinpoint the identity behind digital commerce interactions—blocking fraudsters and streamlining customer purchase paths—in real time, with precision.
“Passing a half trillion in gross merchandise value is a meaningful achievement. The more data we have, the more accurate our decisions—we leverage our first-party dataset to deliver superior results,” said Michael Reitblat, CEO and co-founder of Forter. “This differentiation resonates with analysts, as demonstrated by our leadership position in the Frost & Sullivan Radar Report. And it allows Forter to add value to the digital commerce ecosystem.”
Consistent with this momentum, Forter has taken incremental funding from strategic investors connected to the digital commerce ecosystem. Investors include Citi Ventures, Samsung Next, Brian Sheth, L Catterton and MSD Capital.
“Forter’s real-time assessment of consumer trustworthiness is accelerating the future of digital commerce by driving revenue and preventing fraud,” said Ornit Shinar, Director of Venture Investing from Citi Ventures. “As Forter grows its customer base and its dataset, there’s significant value-add for issuers. We’re proud to invest in a company that has so much positive momentum.”
To learn more about Forter, please visit www.forter.com
About Gross Merchandise Value
Gross Merchandise Value (GMV) represents the gross total dollar value, before taxes and fees, of transactions processed by our platform on behalf of our merchants during the period indicated.
About Forter
Forter is the Trust Platform for digital commerce. With Forter, enterprises generate more revenue and reduce losses to fraud and abuse by making accurate and real-time decisions about every digital interaction.
Forter was founded on the insight that it’s not about what is being purchased, nor where, but who is behind the interaction. As a result, Forter continues to expand its global customer network— processing nearly $250 billion in transaction value in the past year. As the company grows, their customers benefit further; a fraudster detected by one customer is instantly recognizable to all Forter customers. Only automation can facilitate the speed, scale, and accuracy needed to approve more transactions, block more fraud attempts, and deliver better customer experiences.
Forter is entrusted by digital commerce leaders across industries, including Nordstrom, Sephora, Instacart, Adobe, Priceline, and more. These businesses are committed to ensuring that everyone who visits their site gets the experience they deserve.
