SAN FRANCISCO, Aug. 24, 2015 /PRNewswire/ -- Forter, the first fraud prevention solution to offer a real-time Decision-as a Service™ solution for online merchants, announced today that Michael Walsh, former CEO of CyberSource Corporation and Visa Group Executive, Merchants & Acquirers, has been elected to the company's Board of Directors. Walsh, whose previous experience also includes positions at Oracle and Merrill Lynch, joins Forter in conjunction with the company's ongoing mission to eliminate e-commerce fraud for online merchants around the globe.
"Michael Walsh's appointment exemplifies the company's commitment to delivering first-class global e-commerce fraud prevention regardless of the payment type, channel, or device," said Michael Reitblat, Co-Founder & CEO of Forter. "Michael is an expert in merchant payment and fraud management and his unique retailer and consumer experience make Michael a valuable asset to Forter's Board of Directors. We are confident that he will help guide Forter to new heights as we reinforce and expand our leadership position in the e-commerce ecosystem."
Walsh has over 20 years of experience in the technology and financial services industries. During his tenure at CyberSource, Walsh managed North American sales through the "dot com" bubble and bust in the late 90s and ushered CyberSource's expansion into Europe, Asia and Latin America. After the company's $2 billion acquisition by Visa Inc. in 2010, Walsh was named Group Executive, Acquirers and Merchants for Visa, in addition to his role as CyberSource CEO, overseeing all of Visa's merchant-facing business operations in the Americas. Prior to joining CyberSource in 1998, Michael held sales and business development positions at Oracle and Merrill Lynch. He earned his bachelor's degree in political science from The University of California at Irvine.
Walsh joining the Forter board is a true testament to Forter's dedication to delivering a fraud-free e-commerce environment. While other solutions require rules, scores and manual reviews, Forter decisions each transaction in real-time using machine learning, and covers any mistakes with a chargeback guarantee. The system works with behavioral analytics, cyber intelligence and elastic identity, and uses machine learning and the power of big data, informed and refined by the human understanding of highly trained analysts. It's a highly sophisticated approach that delivers the total fraud prevention that most vendors lack.
"In the fast-growing global e-commerce space, Forter is pioneering the future of fraud prevention by enabling retailers with an automated decision service that optimizes sales, while protecting against losses. By anticipating merchants' needs ahead of the expected post-EMV surge in online fraud, Forter's approach and technologies are at the forefront to help merchants grow. I look forward to leveraging my knowledge of the payments industry to build on Forter's momentum and continued success," said Walsh.
Forter provides Decision as a Service™ fraud prevention for the challenges of modern e-commerce. Forter's solution is entirely automated, evaluating every transaction in real-time and providing an instant approval/rejection decision so that genuine customers aren't even aware that they're being examined. The system works with behavioral analytics, cyber intelligence and elastic identity, and uses machine learning and the power of big data, informed and refined by the human understanding of highly trained analysts. Forter is so confident in the accuracy of its decisions that the company offers a chargeback guarantee, something that gives online retailers the peace of mind to leave fear behind and make the choices that are best for their business and its growth.