Oded Ungar
by Oded Ungar • September 22, 2016

Fraud Prevention

There is nothing more satisfying than hearing a very happy customer explain why they are ecstatic about your product, your company and your service. When Tom Groenfeldt heard Laura Park from Macsales talking one day about how much her company had benefited from working with Forter, the Forbes reporter decided to get in touch with Laura and find out if the details supported her glowing description.

Groenfeldt, through interviewing Laura and drawing on findings from a Forrester TEI study, discovered that they did. Forter's solution enables Macsales to provide the highest quality of customer experience with instant checkout and fast fulfillment, and without any of the friction and delay that is traditionally associated with fraud prevention.

You can read the full article here. We know we're biased, but we think it's worth a read.

For us, there's one thing that really stands out about Macsales' experience as explained in the article. While the company had originally been looking for a highly accurate method of stopping fraud, and went with Forter because in Forter they found just that, the greatest benefit of Forter, for Macsales, is measured not in loss prevention but in and increase in sales and customer satisfaction gained. 

As Laura says in the interview:

"Forter is very adamant about approving as many orders as possible, even if they have to pay out when they are wrong, and they’re continually motivated to do so because we don’t pay them for the orders they don’t approve.  We typically have a 98-99 percent approval rating, which is beyond incredible considering the industry as a whole typically considers 88-90 percent a high rate."

This is reflective of a whole new approach to fraud prevention. From being fraud-focused, it's now customer-centered. Fraudulent orders can be stopped without adding friction to checkout or otherwise inconveniencing good customers.

In an age when customers are always tapping away on their phones and expect everything to be smooth, seamless and swift, antifraud that gets in the way of a sale is no longer an acceptable cost of doing business. To stay competitive, companies need to prioritize customer satisfaction.

While adopting this new mindset might take a little mental effort, Laura notes that the results show that it is worth it:

"We found that once we did go live and send 100 percent of our orders for review, it more than paid for itself. The fact that our customers were not disrupted in the process and are now even better supported with faster turnaround times, smoother processing and more frequent order acceptance is a bonus! This was the win we were looking for."

You can read the full article here, or access the Macsales case study here.