SAN FRANCISCO, May 24, 2016 /PRNewswire/ -- Forter, the first fraud prevention technology to offer a real-time Decision as a Service™ solution for online merchants, announced today that it has been recognized as a 2016 Gartner "Cool Vendor." In a May 2, 2016 report entitled "Cool Vendors in UEBA, Fraud Detection and User Authentication, 2016 1," by Gartner analysts, Andrew Walls, Brian Reed, Avivah Litan, Sandy Shen and Craig Lawson.
Since launching in 2014, Forter has received a total of $50 million in funding and has tripled in size, helping create a global market platform that merchant such as delivery.com, Heels.com and Jomashop.com use to ensure fraud prevention is consumer-centric, contributing to frictionless checkout and smooth customer experience. Additionally, Forter is most known for its real-time Decision as a Service™ technology that emphasizes high approvals and stops fraudulent shoppers at the moment of checkout with an instant response, something that is made possible by the fully automated nature of the system. Forter's system is so accurate, in fact, that the company provides retailers with a 100% guarantee against fraud chargebacks.
"With the vast amount of Fintech technology innovation underway, it is gratifying to have been named a 2016 Gartner "Cool Vendor," said Michael Reitblat, Co-Founder & CEO of Forter. "We believe this is validation of the impact Forter's digital technology and anti-fraud protection are having across the industry's ecosystem. We are continuously refining our systems to provide the best fraud prevention for retailers and merchants to support their growth across the e-commerce trifecta of online, mobile and phone orders and it is nice to see that this hard work has not gone unnoticed."
Annually, Gartner identifies Cool Vendors in key technology areas through a series of research reports evaluating the innovative ways they are disrupting their relevant marketplace. This year's UEBA, Fraud Detection and User Authentication report investigates the digital technology and anti-fraud protection ecosystem from the perspective of online merchants who are in need of a market solution in the modern e-commerce space as well as provides an assessment of the ways advanced analytics and IAM responsive technologies are affecting it.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Forter provides new generation fraud prevention to meet the challenges faced by modern enterprise e-commerce. Only Forter provides fully automated, real-time Decision as a Service fraud prevention, backed by a 100% fraud chargeback guarantee – instant, guaranteed approve/decline decisions for every transaction. The system eliminates the need for rules, scores or manual reviews, making fraud prevention friction-free.
The result is fraud prevention that is invisible to buyers and empowers merchants with increased approvals, smoother checkout and the near elimination of false positives - meaning more sales and happier customers.
Behind the scenes, Forter's machine learning technology combines advanced cyber intelligence with behavioral and identity analysis to create a multi-layered fraud detection mechanism.
The result is best for online merchants, and best for online customers.
1 Gartner "Cool Vendors in UEBA, Fraud Detection and User Authentication, 2016" by Andrew Walls et al., 02 May 2016.