SOURCE: iovation

iovation

January 21, 2014 08:15 ET

iovation and Synectics Solutions Join Forces to Fight Fraud

iovation's Device Reputation Intelligence to Enhance Synectics Solutions' Integrated Fraud Prevention Platform

PORTLAND, OR and STAFFORDSHIRE, UNITED KINGDOM--(Marketwired - Jan 21, 2014) -  iovation, stopping Internet fraud and identifying good online customers by leveraging the world's largest device reputation database, today announced that Synectics Solutions has selected iovation's ReputationManager 360 service to be integrated into its Syndicated Intelligence for Risk Avoidance (SIRA) fraud prevention platform. With the partnership, SIRA customers will be able to leverage the world's most comprehensive service for shared device reputation in ReputationManager 360 to better decide whether or not a transaction is potentially fraudulent based on the current and past behavior of the device being used in a transaction.

"SIRA relies on a rich collection of identity-based data sources, and I'm excited that our customers now have access to iovation's unrivaled device intelligence as well," said Kevin Shanahan, Managing Director at Synectics Solutions. "SIRA and ReputationManager 360 provide a complementary, tightly-integrated platform to fight fraud on a real-time basis."

SIRA is a fraud detection and prevention system that leverages best-in-breed data sources, forensic case management tools and a sophisticated decisioning and workflow engine. By providing a fully integrated solution, SIRA eliminates the need to tie together disparate fraud prevention solutions, dramatically simplifying implementations and lowering IT costs. Combined with ReputationManager 360, SIRA provides a holistic approach to lower risk and fight fraud at the time of application -- before fraudsters can become customers.

"SIRA is a leading fraud prevention solution for the United Kingdom's insurance, finance, and telecommunication providers," said Chris Thomas, iovation's Director of Business Development in Northern and Eastern Europe. "It dovetails perfectly with ReptuationManager 360, providing customers with shared intelligence and robust technology to beat the bad guys."

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, uniquely identifying 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 with iovation TrustScore. 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 Synectics Solutions
Synectics Solutions is an independently owned data management company. It has been providing managed database services and fraud prevention solutions for both public sector and blue chip private sector clients in the UK since 1992. The company built SIRA from the ground up based on feedback from risk and fraud professionals, offering a scalable, customizable fraud prevention platform that utilizes best-in-breed data sources, along with robust decisioning and case management technology. More information can be found at www.synectics-solutions.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, used to protect more than 10 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 www.iovation.com.

Contact Information

  • CONTACTS:
    iovation Inc.
    Connie Gougler
    1-503-943-6748
    Email Contact

    Synectics Solutions Ltd.
    Josh Gunnell
    01782 664000
    Email Contact

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