Compare SEON vs Forter

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. 

About Forter

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, Michael Reitblat, 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. 

Key Products

• 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.

Pros of Forter

• 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.

Cons of Forter

• 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 

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 version 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.

Further Reading

Learn more about:

Browser Fingerprinting | Data Enrichment | Device Fingerprinting | Fraud Detection API | Fraud Detection with Machine Learning & AI | Fraud Detection & Prevention

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BIN Lookup | IP Lookup | Reverse Email Lookup | Reverse Phone Lookup | Social Media Lookup