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A Win for Retailers, Banks and Consumers: Forter, Capital One, Combine Key Offerings

E-commerce fraud prevention firm Forter and Capital One’s Enhanced Decisioning Data product have joined forces to streamline the purchase process for retailers. Their combined powers now allow merchants to have a direct connection with issuing banks to share Forter Trusted Authorization’s fraud insights, powered by its Global Merchant Network and advanced AI technology, which in turn increases authorization rates and decreases false declines — a win for retailers, banks and consumers. And the need for speed is real. Both merchants and issuing banks need to perform risk evaluations on every transaction, the companies said, and issuing banks are “forced to make their authorization and fraud decisions with limited data around the legitimacy of these transactions.” This can lead to false declines by issuers — and some valid transactions are incorrectly suspected of fraud and not approved, the companies explained. Lost income to merchants and issuers resulting from false declines is predicted to be over $443 billion in 2021, which is 75 times larger than the actual fraud losses they face, according to research from AITE Group. Sarah Strauss, head of Card Fraud at Capital One, said it is “game-changing to be able to enhance authorization decisions in real-time as a result of our partnership

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