Providing what they call an “ecosystem of trust”, Forter is known as a reliable real-time fraud prevention vendor.
Today, we are going to compare the features and approaches of Forter and SEON, and do our best to explain which one would work best for what type of organization and requirements.
Disclaimer: Everything in this article was gleaned from online research including user reviews. We did not have time to manually test all the tools. However, we ensured the information was correct as of spring 2022. Feel free to contact us to request an update/correction.
With offices in Singapore, New York, Tel Aviv and London, Forter prides itself in being a truly global startup in both its scope and client roster – it even targets the Chinese market, looking to gain a footing.
It was founded in Tel Aviv by Liron Damri and Alon Shemesh in 2013, and recently completed Series F funding, raising $3 billion.
Forter products aim to increase trust in the online world while minimizing the need for human intervention on the part of merchants. Under the hood, it employs solid algorithms to help gauge a user or customer’s intentions and stop fraudulent transactions, promotion abuse, account takeover and other fraud that eats into eshops’ profits.
There is an end-to-end fraud prevention platform that works in real-time to thwart fraud for customers who are mostly in the ecommerce sector.
Conveniently, however, the products can be deployed in isolation or combined, which helps tailor these defenses to the needs of different companies.
- Trusted Conversions: Aiming at reducing chargebacks and false declines, including a chargeback protection promise akin to the chargeback guarantee model.
- Trusted Authorization: Bridges the systems of merchants and issuers/banks in order to boost trust.
- Trusted Policies: Prevents policy abuse such as promo, reseller and return fraud.
- Trusted Identities: Protecting on-site customer accounts from ATO attacks.
- Forter Element: Fraud prevention for payment service providers in particular.
- Focus on decreasing false declines for more revenue, including with 3DS and PSD2.
- Holistic option combines top fingerprinting, IP and behavior analysis with custom rules and risk ratings.
- Easy to deploy and good quality customer support.
- A reported lack of a blacklist and blackbox AI hinders customizability and transparency.
- No digital footprint-powered data enrichment insights.
SEON vs Forter Features Comparison Table
|Email data enrichment||Yes||No|
|Phone data enrichment||Yes||No|
|Find user social media||Yes, checks 35+ platforms||No|
|Machine learning suggestions||Yes||No|
|Industry preset rules||Yes||Yes|
|Custom API fields||Yes||Yes|
|Integration with other tools||Yes||Yes|
|Cost per month||Flexible tiered pricing based on API requests starting from $99.||N/A. Contact the sales team.|
Where SEON Wins over Forter
- SEON’s focus on reverse email and phone lookup boosts confidence in manual reviews and improves risk scoring overall.
- Demo using batch data from the client’s business, free 30-day trial and flexible pricing.
- Machine-learning powered risk rule suggestions and robust control over ratings.
Where Forter Wins over SEON
- Range of standalone tools for merchants to pick and choose, potentially saving money.
- Option to connect merchant directly to issuing banks for siloed insights that improve risk evaluation.
Learn more about:
Try our free tools: