Let’s give credit where credit is due. Like Signifyd, Forter’s technology represents a paradigm shift from the reactionary fraud prevention of manual review and rules engines to the proactive protection of machine-learning automation. The fact that you are evaluating Signifyd and Forter means that you have already made a smart move for your business by selecting an advanced fraud technology.
Why choose Signifyd over Forter?
We have skin in the game.
Signifyd’s 100% financial guarantee against chargebacks aligns our success with our merchants. Because we are paid only on approved orders, we are incentivized to ensure that all good orders are processed and that any bad orders are stopped before incurring a loss for which we are liable.
We are able to take on liability for fraud because we can detect good orders from bad with a high level of accuracy. It speaks volumes about Forter’s own confidence in their decision engine that they have silently retreated from the liability shift model.
We get smarter over time.
Our financial guarantee also lays the foundation for optimizing between approval rates and chargeback rates to maximize approvals over time.
By assuming our merchants’ liability for fraud and balancing that risk across the Signifyd Commerce Network (the industry’s largest network of merchants), we can take calculated risks such as approving an order that appears fraudulent to test the system’s accuracy. If an order that appears fraudulent ends up being legitimate, Signifyd’s models learn from that and understand that similarly situated orders should also be shipped in the future.
By contrast, Forter’s approval & chargeback rate “guarantees” are really their performance limits. They cannot optimize approval rates in the same way a financial guarantee provider can because they do not want to expose their merchants to losses and risk losing their business to another solution provider.
“2022 Leading Vendors to the Top 1000 Online Retailers” report
A data‑driven analysis ranking Signifyd #1
in Payment Security and Fraud Prevention