SOURCE: iovation

iovation

November 12, 2013 08:15 ET

Fiserv Selects iovation to Support Multilayered Security Strategy

iovation's Device Reputation Technology to Be Integrated Into Fiserv Solutions for Financial Services Clients

PORTLAND, OR--(Marketwired - Nov 12, 2013) - iovation, stopping Internet fraud and identifying good online customers by leveraging the world's largest device reputation database, today announced that Fiserv, Inc., a leading global provider of financial services technology solutions, has selected iovation's ReputationManager 360 service to be integrated into its authentication and fraud control solutions. ReputationManager 360 is the world's most comprehensive service for shared device reputation. It identifies potentially fraudulent transactions through analysis of the online behavior of more than 1.5 billion devices from around the world, helping to prevent credit card fraud, identity theft, account takeovers and other abuses.

"Fiserv is continuously looking for opportunities to provide enhanced security and anti-fraud capabilities to our clients," said Ed Sarama, Chief Security Officer, Enterprise Risk & Resilience, Fiserv. "We selected iovation through a rigorous evaluation process, and our team assessed ReputationManager 360 as the leading solution for endpoint analytics. Fiserv believes these analytics combined with iovation's large cross-market device database will provide our clients with another powerful option in the fight against malware and online fraud." 

ReputationManager 360's device reputation analytics can be used by Fiserv to additionally enhance safety and security in user enrollment, user login and other user interactions. Fiserv has 16,000 customers worldwide, including banks, credit unions, mortgage lenders, leasing companies, brokerage and investment firms, as well as other business clients.

"This is one of the most important strategic relationships I have had the pleasure to be involved in," said iovation Vice President of Corporate Development and Co-Founder Jon Karl. "We get to expand our reach through one of the world's foremost financial services technology solutions companies and Fiserv gets access to powerful technology that's changing the way businesses fight fraud. We look forward to working with Fiserv to give their clients the choice to deploy our technology to secure their businesses."

With its ReputationManager 360 solution, iovation monitors the reputation of devices that have been used in more than 11 billion transactions from around the world; everything from desktops to laptops, mobile phones to tablets, and gaming consoles to smart TVs. By utilizing the intelligence gathered across iovation's 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. Highly trustworthy customers can also be recognized more quickly. ReputationManager 360's global intelligence network is used to stop more than 200,000 fraud attempts daily, proactively identifying devices that are associated with abuse and stopping bad actors before they can strike.

About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

About iovation
iovation protects online businesses and their end users against fraud and abuse through a combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,300 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company's device reputation database is the world's largest containing 15 million reports of fraud and it is used to protect more than 10 million transactions per day, stopping 200,000 fraudulent activities a day. Clients 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. For more information, visit www.iovation.com.

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