Forter Uses Artificial Intelligence to Ensure eCommerce Safety
Colin Smith — July 14, 2023 — Business
References: forter
The Forter Trust Platform is a product that aims to provide fraud prevention and protection for digital commerce. It uses a combination of identity graph, network effects and decision engine to assess the trustworthiness of every customer interaction, from account creation and checkout to loyalty programs and returns. The platform integrates with the payment ecosystem and delivers real-time decisions in under 400 milliseconds.
The online retail industry can benefit from the Forter Trust Platform in several ways. First, it can reduce the costs and risks associated with chargebacks, false declines and abuse. On average, merchants who switch to Forter experience a 72% reduction in chargeback rates and a 46% reduction in false declines. Second, it can enhance the customer experience and loyalty by offering seamless and secure transactions, personalized offers and frictionless returns. Third, it can enable scalability and growth by allowing merchants to expand into new markets, channels and segments with confidence.
Image Credit: Forter
The online retail industry can benefit from the Forter Trust Platform in several ways. First, it can reduce the costs and risks associated with chargebacks, false declines and abuse. On average, merchants who switch to Forter experience a 72% reduction in chargeback rates and a 46% reduction in false declines. Second, it can enhance the customer experience and loyalty by offering seamless and secure transactions, personalized offers and frictionless returns. Third, it can enable scalability and growth by allowing merchants to expand into new markets, channels and segments with confidence.
Image Credit: Forter
Trend Themes
1. Fraud Prevention - Disruptive innovation opportunity: Develop advanced AI algorithms to detect and prevent fraud in eCommerce transactions.
2. Customer Trust - Disruptive innovation opportunity: Create platforms that assess and ensure the trustworthiness of customer interactions in the digital commerce space.
3. Seamless Transactions - Disruptive innovation opportunity: Build systems that offer seamless and secure transactions, personalized offers, and frictionless returns to enhance the customer experience and loyalty.
Industry Implications
1. Online Retail - Disruptive innovation opportunity: Develop fraud prevention services and platforms specifically tailored for the online retail industry to minimize chargebacks, false declines, and abuse.
2. Payment Solutions - Disruptive innovation opportunity: Create payment ecosystem integrations with real-time decision engines to provide enhanced fraud prevention and protection for digital commerce.
3. Data Analytics - Disruptive innovation opportunity: Utilize data analytics and identity graph technologies to assess customer trustworthiness and enable scalable growth for merchants in the eCommerce industry.
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