PORTLAND, OR--(Marketwired - Jul 24, 2013) - iovation , stopping Internet fraud and identifying good online customers with the world's most comprehensive device reputation database, today announced the incorporation of iovation's device intelligence technology into ID Analytics' flagship identity fraud solution. ID Analytics is leveraging iovation's ReputationManager 360 , the world's most comprehensive service for shared device reputation intelligence, to enhance ID Score 8.3's real-time consumer behavior intelligence.
"This use case further demonstrates why iovation's device reputation technology is so powerful and how we can bolster an already-trusted identity fraud solution like ID Score," said Jon Karl, iovation Vice President of Corporate Development and Co-Founder. "We look forward to helping ID Analytics' customers, which include many of the leading financial institutions , credit card issuers, retailers and wireless providers, enhance their fraud prevention operations."
ID Analytics proprietary ID Score provides a real-time view into the fraud risk associated with new-account applications via a three-digit score, reason codes and attributes, uncovering many types of identity abuse including family, first-party and synthetic fraud. The score has traditionally been computed solely through the analysis of identity elements to reveal any history of high-risk behaviors or fraud associations. ID Analytics will now pair the 740 billion identity elements in their ID Network ® with iovation's reputational intelligence on more than 1.5 billion Internet-enabled devices. This optional enhancement allows the latest version of ID Score, ID Score 8.3, to assess both the identity and the device associated with an application, resulting in a more comprehensive view into identity fraud risk.
"Adding device reputation to ID Score is an important enhancement and we are excited to work with iovation to make this happen," said Garient Evans, Director of Identity Risk Solutions at ID Analytics, Inc. "By combining iovation's device intelligence with ID Analytics' insight into identity and the power of the ID Network, businesses can obtain greater insight into transactional risk at account opening."
With the device integration option, powered by iovation's ReputationManager 360, ID Score 8.3 will:
- Uncover the hidden associations between devices and identities
- Further reduce losses stemming from identity fraud
- Improve the customer experience by reducing friction for "good" customers during high-risk online and mobile transactions
- Decrease operational expenses by reducing unnecessary reviews of transactions, thereby lowering customer abandonment rates
With its ReputationManager 360 solution, iovation monitors the reputation of devices that have been used in more than 10 billion transactions from around the world, tracking devices from desktops to laptops, mobile phones to tablets, and gaming consoles to smart TVs. By utilizing iovation's device reputation intelligence network of hundreds of customers and thousands of security professionals, businesses can determine whether any device has been, or is likely to be, a source of fraudulent transactions. With this intelligence, iovation stops more than 150,000 fraud attempts daily, proactively identifying devices that are associated with abuse and stopping bad actors before they can strike.
About iovation iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of advanced device identification , shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, insurance, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than 1.5 billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts, to share intelligence about cybercrime and prevention techniques. Every day, iovation stops more than 150,000 fraud attempts. For more information, visit www.iovation.com .
CONTACT: iovation Inc. Connie Gougler 503-943-6748 Email Contact
