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Forter announces partnership with L'Occitane Japan

Tuesday 13 September 2022 08:20 CET | News

Digital commerce and fraud prevention platform Forter has partnered up with L’Occitane Japan to implement an automated fraud prevention platform.

As cited by IT Brief, Forter stated that with the implementation of this platform, the natural cosmetics retailer has reduced reimbursements, increased revenue, and improved their customer experience. Prior to the Forter platform deployment, L’Occitane Japan (registered in Japan as L'Occitane Japon KK) was operating on a manual reviewing system, which was slowing down transaction times and stretching resources. The partnership with Forter allowed L’Occitane’s fraud detection to be fully automated, resulting in an improvement of over 99% approval rate, with zero chargebacks reported within two months of deployment.

L'Occitane representatives have stated that the change to automated decision-making allowed them to have their focus switched to customer experience improvement and online expansion, while being able to reduce operating costs and chargeback affiliated losses.

Forter’s Trust platform for digital commerce is used by several other retailers, amongst which Adobe, Nordstrom, and Sephora are found, with over USD 500 billion transactions being processed. 

Digital commerce and fraud prevention platform Forter  has partnered up with L’Occitane Japan  to implement an automated fraud prevention platform.

Forter’s Trust platform solutions

Forter’s platform allows delivery of 100% automated decisions in under 400 milliseconds, by means of machine learning, and it helps companies’ scalability, with them not being dependent on manual reviewers. 

Within their platform, various solutions are encompassed:
  • Trusted Conversions, with a focus on fraud prevention and false declines/chargebacks reduction,

  • Trusted Policies, with a focus on account authentication and insights into consumer abuse behaviour (promotions, Item-Not-Received, returns, as well as reseller abuse),

  • Forter Element,  with a focus on allowing PSPs the opportunity to offer their customers differentiated value, by means of real-time automated fraud decisions (being an identity-based platform, it utilises data to increase accuracy, decrease false declines and minimise chargebacks),

  • Trusted Identities, with a focus on account take-over (launched in December 2021, it helps protect against account take-over that relies on consumer credentials’ exploitation, by enabling multi-factor authentication integration),

  • And Smart Payments PSD2 solution, with a focus on optimising the digital commerce payment flow (launched in February 2022, it uses 3DS and is designed to boost ecommerce conversion rates and revenues for merchants).

In May 2021, Forter raised USD 300 million  in a series F funding led by Tiger Global Management. The funding followed the USD 125 million series E funding received six months prior and brought the company’s value to a total of USD 3 billion. 

The amount that was raised in May was aimed at helping with the expansion of its global ecosystem of trust that would enable retailers, ecommerce platforms and payment providers alike fight fraudulent behaviour. 


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Keywords: partnership, fraud prevention, cybersecurity, PSD2, online fraud, ecommerce
Categories: Fraud & Financial Crime
Companies: Forter
Countries: Japan
This article is part of category

Fraud & Financial Crime

Forter

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