Find out how fraud prevention can help Finance

Explore the benefits Forter brings to Finance departments
Read our Finance White Paper to find out more

Payment fraud is fundamentally the CFO’s problem.

Of course, the teams responsible for payments and card processing tend to straddle many different areas, from operations to product and development. In fact, the finance team owns and has responsibility for payments in fully half of the companies Forrester surveyed for the 2016 State of Retail Payments report.

This is for good reason - basis points on the top line can translate to percentage points on the bottom line.

The operational overhead and hidden cost of fraud can be particularly damaging for the finance team to root out. This makes the rising cost and growing lack of predictability for fraud prevention, which is an integral part of the payments process, particularly painful for Finance leaders and teams.

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Finance leaders and teams need fraud prevention that makes their jobs easier.

When it comes to fraud and fraud prevention, there are three main elements with which Finance teams are struggling:

  • Fraud costs are rising.
  • Fraud prevention and management has a persistent cost, with both overt and hidden
  • Fraud costs are a volatile element of the business: difficult to predict, and difficult to benchmark

Forter makes fraud costs predictable, without any hidden elements.

Forter addresses the challenges of today’s complex fraud ecosystem with a solution that removes much of the cost of fraud and of fraud prevention, as well as all of the unpredictability, and keeps pace with the evolving threat.

How does Forter do this?
  • Fraud costs are covered by a fraud chargeback guarantee.
  • Fraud prevention costs are minimized through full automation. That means no more large teams of manual reviewers, no more time spent on adding, developing and removing complex chains of rules from the system, and no more staffing and scaling costs associated with the busy periods of the year such as the holidays.
  • Fraud and fraud prevention costs become predictable, precisely in tune with your company's sales. This is because Forter charges only for approved transactions, and covers fraud costs with a fraud chargeback guarantee.

Alongside all this, the exceptional accuracy of Forter's system ensures that while your business will block fraud, it will do so without inconveniencing, delaying or rejecting genuine customers. Your approval rates and sales are maximized, while fraud costs are minimized.

The costs of non-compliant users, users who commit referral fraud or coupon abuse, are also dramatically reduced with Forter's End-to-End solution. Using End-to-End will allow your organization to place itself on a firm foundation of digital trust.

If you would like to find out more about the impact that an emphasis on accuracy and innovative technology can have on costs and forecasts, download the Accuracy in Fraud Prevention and Finance white paper.