SOURCE: iovation

iovation

April 07, 2015 08:30 ET

Fraud Protection Firm iovation Recognized for Revenue, Income and Employee Growth

Finalist for Technology Company of the Year Award

PORTLAND, OR--(Marketwired - Apr 7, 2015) - iovation, the trusted source for mobile and online fraud prevention, has been named a finalist in the 31st annual Technology Association of Oregon (TAO) Oregon Technology Awards (OTA) in the growth category. TAO evaluates technology companies with annual revenues between $20 million and $100 million for the category, and iovation is a finalist alongside Navis, Peak Hosting and Puppet Labs. Companies are awarded based on revenue, income and employee increases for the three-year period from 2011 to 2014.

"It's been an amazing three years at iovation with revenue growing by 85 percent, ten consecutive quarters of increasing profitability, a rapidly growing international client portfolio and the number of employees expanding by 40 percent," said iovation's Chief Financial Officer, Doug Shafer. "But of course iovation's growth over the last few years wouldn't be possible without happy customers. I'm proud to also announce that we are leading our market in customer satisfaction and it shows with our 98 percent customer retention rate."

In addition, in just the past year iovation has:

  • Increased its overall customer base by 25 percent. This includes new customers in every industry iovation serves and most notably in financial services, gaming, retail and insurance.
  • Increased the number of Internet-enabled devices it has behavioral insights into by 24 percent. Its cybercrime intelligence network now includes 2.5 billion devices such as laptops, desktops, mobile phones, tablets, gaming consoles and smart TVs.
  • Protected 21 percent more transactions with 36 percent of all transactions iovation analyzed last year coming from mobile devices.
  • Grew the client base for its Trust service, which leverages positive reputation to allow clients to offer their trusted customers the best marketing promotions and high-end offers.
  • Launched its device-based authentication solution, which uses a customer's known devices as a frictionless second factor of authentication.
  • Made major updates to its Mobile Software Development Kit (SDK). This solution protects mobile traffic coming from the Web, or native or hybrid apps, identifies jailbroken iOS and rooted Android devices, detects transactions that originate from virtual machines or emulators, and discovers mismatches of geolocation data.

Clients leverage iovation's global consortium containing 2.5 billion devices and their associations with other devices and the accounts they log into, plus 22 million client-reported fraud and abuse records to determine the fraud risk in a transaction. They can choose up to 45 granular fraud types to consider in their risk checks, such as identity theft, credit card fraud, account takeover and shipping fraud. Within 200 milliseconds, iovation's service responds with an allow, review or deny response, after running a client's customized risk assessment. Banks, retailers, telcos, gaming companies and others use iovation's service directly, or through partner integrations with Equifax, Fiserv, Accertify, ACI Worldwide or ID Analytics.

The Oregon Technology Award winners will be announced in a ceremony on April 30, 2015 at the Portland Art Museum. To see a list of finalists, go to techoregon.org/company-and-technology-finalists.

About iovation
iovation protects online businesses and their end users against fraud and abuse, and identifies trustworthy customers through a combination of advanced device identification, shared device reputation, device-based authentication and real-time risk evaluation. More than 3,000 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of more than 2.5 billion 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, used to protect 12 million transactions and stop an average of 200,000 fraudulent activities every day. The world's foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation's Fraud Force Community, an exclusive virtual crime-fighting network. For more information, visit iovation.com.

Contact Information

  • CONTACTS:
    iovation Inc.
    Connie Gougler
    503-943-6748
    Email Contact