Simplifying the Fraud Equation: Spreedly x Forter
By Andrew Sjogren
Payments and fraud control are adjacent in the digital ecosystem. And now, with an exciting new partnership, so are Spreedly and Forter. Clients can now take advantage of Forter’s Trust Platform and reporting directly from the Spreedly ecosystem.
While Spreedly supports a network of providers, our decision to accelerate Forter’s fraud solutions in our platform was the product of a strong and growing mutual clientele, as well as Forter’s reputation.
When left unchecked, fraud can become costly to manage and quickly erode a merchant’s profits and reputation. Forter leverages AI and machine learning to identify and prevent fraud in real-time. With a first-party identity graph of 1.2+ billion online identities, Forter processes over $350 billion in gross merchandise value for over 260,000 businesses worldwide. Their mission of offering robust, low-impact services to merchants and service providers is a mission close to our hearts.
Integrating with Forter
Spreedly’s orchestration layer is constantly evolving to create greater efficiency, control, and revenue across our clients’ payments stack. While fraud layers can be developed in-house, they are costly to build and maintain. Forter offers enterprise-grade services that bridge that gap between cost and performance and bring the added benefit of a network effect: the cost of the solution is spread across a provider’s entire portfolio, putting costs well under our estimates for building and maintaining a bespoke product.
Customers of Spreedly also gain the benefit of insights across Forter’s fraud prevention network. High-risk activity can be detected across the landscape, and the solution can learn and adapt before threats spread to other areas.
The benefits of a diverse payments ecosystem with Spreedly are myriad. Clients like Zebrands have seen radical shifts in areas like authorization rates from reducing false-positive declines. Fraud control is a pillar of this and is a particular bulwark for merchants serving new markets, verticals, and geographies. Based on Forter's first-party data, merchants that switch to Forter reduce chargebacks by up to 72% and decrease false declines by up to 46%. When combining diverse payment methods, a multi-gateway infrastructure, and card-lifecycle management, the benefits to clients grow exponentially.
Fraudsters should be thought of as dynamic businesses. They adapt to new market environments, changing technology or behavior, and in response to existing controls. This reality drives our commitment to offering best-in-class fraud services within our orchestration layer. The importance of adaptive, tech-forward fraud prevention is self-evident today. We are proud to announce that now so is Forter’s position within our product.
"For 46% of merchants, reducing fraud and chargebacks is the most important priority in a fraud management strategy. We’re thrilled to welcome Spreedly to our Forter Partner Program as we continue to drive meaningful business impact across payment optimization, fraud prevention and customer experience."
- RYAN QUAYE, VP GLOBAL GROWTH AND ECOSYSTEMS, FORTER
- On average, merchants that switch to Forter reduce chargebacks by up to 72% and decrease false declines by up to 46% (Based on Forter’s first-party data)
- 46% of merchants said that reducing fraud and chargebacks is the most important priority in a fraud management strategy (MRC Global Fraud & Payments Report, 2022)
- Online retailers lost $6T to fraud in 2021 (Beyond eCommerce Fraud PYMNTS Report, 2021)
- Spreedly tracked a 44% increase in fraud transactions in 2022 (Based on Spreedly’s first-party data)