Spreedly and Forter Partner on Predictive Modeling Solutions

Spreedly and Forter expanded their partnership to offer their joint customers predictive modeling solutions designed to provide higher authorization rates, enhanced customer experiences and actionable insights for merchants.

The partnership brings together Forter’s fraud prevention and transaction optimization and Spreedly’s open payments platform, the companies said in a Tuesday (Oct. 22) press release.

For the companies’ joint customers, the collaboration offers a unified solution that gives businesses full visibility into their fraud and payment workflows, according to the release.

It also delivers improved conversions by minimizing customer payment friction and boosting bank authorizations, higher risk approval rates by identifying the best moments to apply 3D Secure (3DS), compliance with the Revised Payment Services Directive (PSD2) and improved authorization performance by applying network tokens at the right time and right place, per the release.

“Our expanded partnership allows us to further our connectivity with Forter’s identity intelligence to boost merchant transaction success,” Spreedly President Peter Dougherty said in the release. “Together, we’re improving payment performance in new ways through the simplicity of an open payments platform.”

Forter Chief Revenue Officer Matt Nelson said in the release: “Our deepened partnership with Spreedly means we can deliver improved fraud and payments results to even more businesses around the world.”

Accounts receivable (AR) teams are using data analytics and predictive modeling to identify patterns in customer payment behavior, allowing them to proactively address potential delays or disputes before they affect cash flow.

Merchants face mounting pressure to streamline payment processes, according to the PYMNTS Intelligence report “Open for Business: Unlocking the Power of Open Payments.”

Open payment platforms can simplify payment integrations, enhance transaction success rates and provide a scalable solution to meet growing customer demands, the report found.

Generative artificial intelligence and data can help firms keep good, transacting customers in place while weeding out fraudsters, Doriel Abrahams, head of risk, U.S. at Forter, told PYMNTS in an interview posted in March.

“The key is to teach your AI models and the systems to ‘think’ the ways these people think and ask the right questions at the right time,” Abrahams said.

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