Zumigo Launches Location-Based Transaction Fraud a

SAN JOSE, Calif., Oct. 16, 2013 (GLOBE NEWSWIRE) -- Zumigo today announced the availability of their Zumigo Assure security solutions. This API-based three-part service suite detects transactional fraud, authenticates mobile devices and validates device ownership. Zumigo's solutions are based on mobile and telephony data including device location. Zumigo has patent-pending technology allowing the company to locate mobile phones, even while roaming, supporting over 300 carriers globally.

Zumigo Assure Radius validates card transactions by verifying that the card-owner and their phone are in the vicinity of the merchant or ATM at the time of transaction. Because this solution is network based, it works with any mobile phone, does not require a mobile app and does not demand a change in consumer behavior.

Zumigo Assure Authentication validates iPhone and Android phones to ensure that only known devices can sign into systems such as banking or trading accounts. Through a simple SDK (software-development kit) that can be integrated into an existing application, Zumigo Assure Authentication validates the device in real-time using multiple out-of-band methodologies including location data. Being a passive authentication process, validation occurs without any additional consumer interactions such as out-of-band passwords or extra software.   

Zumigo Assure KYCD (Know Your Customer and Device) taps into the power of telephony-billing systems to validate that a phone a consumer adds to their account is in fact their phone. This critical validation step is essential to prevent account take-over attempts. Additionally, the KYCD services provide data to differentiate between a long-held contract phone and a recently purchased prepaid "throw-away" phone.

Chirag Bakshi, the Founder and CEO of Zumigo is pleased to remark, "Until now, no one has offered this combination of solutions critical to prevent financial fraud and support device authentication. We have developed entirely new ways of leveraging mobile data to solve some of the toughest industry challenges. Perhaps the best part of Zumigo's solutions is that they don't require changes in consumer behavior, simplifying adoption."

Chirag publicly demonstrated these solutions for the first time on Money2020's Launchpad360 stage Wednesday, October 9.

About Zumigo

Zumigo is pioneering a new generation of mobile services predicated on providing a richer experience for customers through more relevant, context-based information. Global solutions support marketing to customers with locations in context and securing financial transactions using mobile infrastructure. Founded in 2008, Zumigo is led by veterans of the mobile and financial industries with years of experience in developing and managing mobile solutions for some of the world's largest carriers and enterprises.

David Pinski VP Product Management www.zumigo.com