Retailers should come together and say hey we’re fighting fraudsters it’s not i’m going to do a better fraud prevention job than the other guy, it’s not a competitive advantage. Its kind of table stakes for commerce. Michael Reitblat co-founder and CEO of Forter, an online fraud prevention company says he spent his entire life fighting online fraud and that today fraud costs companies 200 billion dollars in annual lost sales and accounts for 70 billion dollars in annual fraud damages. We’re seeing a hundred and twenty-six percent increase in the number of fraud attacks in the last three quarters. And he says many sophisticated online businesses are realizing that sometimes lost revenue doesn’t just come from theft it can also come from the safeguards that over complicate the online shopping experience for consumers. People usually talk about fraud for two reasons first hey I got hit by fraud I’d lost a bunch of money but way more importantly retailers are now finding out that they’re losing money because they’re turning away good buyers because their fraud prevention systems flagging transactions for no reason or pushing transactions through a significantly inefficient process from a friction perspective calling buyers preventing by from buying certain cards shipping it to certain addresses requesting immediate shipment and when you know in the world of consumer expectations of I want it now and I want to pay for it however I want it. If you don’t give it to them they switch to amazon or they switch to one of the newer platforms. It’s the kind of online intelligence that even big companies like Under Armour say is valuable to their e-commerce business and one of the reasons why they found value in attending our NG Omnichannel Summit in Austin Texas. I was having a conversation with a security and fraud company and the insight that person gave me was very important for our business around how we do our fraud management in terms of there’s a risk score associated with it and how we approve credit cards and not i think those little nuggets could potentially be extremely valuable if I can talk to a couple of people and and hopefully get a nugget or two for our business I think that’s phenomenal.