Question: How can I optimize my fraud risk management to improve customer experience and reduce friction in the payment process?

If you want to reduce fraud risk while improving customer experience, Forter has a full suite of solutions. Its Identity Intelligence platform makes real-time decisions across all customer interactions, balancing risk with customer experience. Its Fraud Management, Chargeback Recovery and Abuse Prevention features help lower chargeback rates by 72% and false declines by 46%.

Another strong contender is Riskified, which uses AI to optimize revenue and minimize fraud. The platform is designed to increase approval rates and catch fraud better than competitors. With features like Chargeback Guarantee and Policy Protect, Riskified helps e-commerce companies lower fraud costs and increase transaction success, with a 50% reduction in fraud costs and 20% decrease in manually reviewed orders.

Sift is another option, especially if you want to stop fraud without stopping trust. With features like Account Defense and RiskWatch, Sift helps businesses eliminate digital friction and achieve high growth while keeping customers safe. Sift works with more than 700 brands around the world across many categories, with measurable results like a 2x-3x improvement in review efficiency.

If you want a platform that focuses on real-time decision-making and advanced risk scoring, Vesta has a fraud prevention platform. Vesta's Payment Protect and Payment Guarantee solutions use AI and machine learning to optimize approval rates and minimize fraud, with a user-friendly console for flexible integration and customized solutions. It's geared for companies that want to improve customer satisfaction without compromising transaction security.