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.
How many good orders are you turning away with Forter?
Send us your declines for a full breakdown of the orders we would approve and guarantee.
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.
Instead, Forter has pivoted to offering performance “guarantees” on approval and chargeback rates which fail to align incentives in the same way, as they make money regardless of business outcome for the merchant and are not directly penalized for any losses that occur.
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.
We offer merchants a window into every decision.
Furthermore, Signifyd provides complete transparency into the data points evaluated for each decision made — available to drill into in the Agent Console — and insight into business performance across segments such as geographies product lines or payment methods.
By comparison, Forter offers limited visibility into the inner workings of their decision engine or the “how” behind their delivered results.
That is particularly concerning when it comes to their performance “guarantees.” Transparency creates accountability — if you can’t drill into underlying approvals and declines, there’s little you can do to ensure the right decisions are being made for the right reasons.
We give merchants ultimate control.
We understand that every business is different and their challenges require unique solutions. That’s why we offer configurability in both depth of coverage — from Guaranteed Fraud Protection to Complete Chargeback Protection (for both fraud and non-fraud chargebacks) — and breadth of coverage — from Account Protection and checkout decisions to Chargeback Recovery and Return Abuse Prevention.
We have even built our Decision Center module to allow merchants to take the reins and build custom business policies themselves.
Take it from Rainbow’s VP of Ecommerce & Digital David Cost: “The data that is shared with us and the ability to resubmit a because we think it’s a good order — that whole process has been improved. Our customer service team prefers working in Signifyd.”