AI firm Forter, which has said that its technology can help prevent fraud online, has introduced a product that can prevent account takeovers.

The company said that its new product is able to provide merchants with insight into their customers’ buying history and account preferences across multiple accounts, information that can help catch fraudsters before they strike. Information such as account takeover, coupon/promo abuse, referral abuse, loyalty program abuse and multiple account creation can help determine well before checkout if fraud activity is likely. And while that’s activity before checkout, the solutions package can also provide post-transaction information to help customer service determine if certain claims such as returns or requests for account credits are legitimate.

Michael Reitblat, chief executive officer and cofounder of Forter, said the company’s new product “allows merchants to understand the entirety of consumer interactions without simply focusing on information available at the moment of checkout. That means a fraudster attempting to commit account takeover would be identified long before they even attempted to make a purchase.”

Forter also has a product that automatically approves or declines each transaction in milliseconds. In a Forter panel presentation in September in New York, panelist Matthew Arthur, customer experience manager at Malin and Goetz, said he use to Google customers’ names to check publicly available information to make guesses on whether or not to approve and ship orders. Relying on Forter’s algorithms, Arthur said there’s been instances where he’s allowed orders to go through on Forter’s recommendation — where otherwise they would have been rejected — only to find out later that the new orders are from customers that have since placed replenishment orders.

load comments
blog comments powered by Disqus