PORTLAND, OR and LONDON, UNITED KINGDOM--(Marketwired - Sep 9, 2016) - iovation, the provider of device intelligence for authentication and fraud prevention, today announced it and Equifax Limited will detail latest financial fraud trends and how to authenticate trusted customers without impeding the online experience in an upcoming webinar. The webinar entitled "How Today's Financial Institutions Are Overcoming Fraud" will be held on Sept. 13 at 3pm BST/7am PDT.
"In 2015, online UK banking fraud rose 64 percent to £133 million (about $176 million USD), highlighting that financial institutions are a primary target for fraudsters," said iovation's Eddie Glenn. "Given this rise, businesses need a layered approach to security that exposes insights that would otherwise be invisible."
During the webinar, UK financial firms will be given the tools to create a seamless consumer experience while mitigating fraud risks. iovation and Equifax will address:
- Fraud and security trends impacting today's financial institutions and banks
- Leveraging iovation's database to reveal fraud risk associated with individual devices
- The latest in risk management innovation with dynamic and automated risk-based authentication
- Creating frictionless security across the consumer journey
- Demonstrate how Equifax and iovation reduce fraud through collaborative solutions
"Consumers turning online and to mobile devices for online account access and transactions are creating greater fraud risks," said Peter Harrison, identity and fraud product leader at Equifax Limited. "However, high-friction authentication methods like texting one-time passcodes could have a negative impact on the online experience for some users. While increasing security, they can lead to frustration and potentially abandoned transactions."
The webinar will delve into how the iovation-powered Equifax Device Verifier enables risk mitigation while streamlining the customer journey. Using iovation's device intelligence, Equifax Device Verifier assesses the risk of fraud associated with any device -- minimizing delays in ensuring a customer is who they say they are. The service checks to see if there is any history of fraudulent activity linked to the device using iovation's global fraud network, which looks at the reputations of more than 2.5 billion devices and 30 million fraud reports. It also analyzes real-time risk indicators such as device anomalies, excessive repeated use of the same device, and evasion techniques attempting to conceal the nature of the device or its location. This deep intelligence uncovers otherwise hidden associations between accounts and devices.
For more details and to register for the webinar, go to http://bit.ly/2c56J6B.
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 16 million transactions and stop an average of 250,000 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.
Equifax, Inc. ("Equifax") powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 800 million consumers and more than 88 million businesses worldwide, and its databases include employee data contributed from more than 5,000 employers.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,200 employees worldwide.
Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune's World's Most Admired Companies (2011-2015); named one of Forbes' World's 100 Most Innovative Companies (2015). For more information, visit www.equifax.com
Equifax Limited is one of the Equifax group companies based in the UK'
Equifax Limited is authorised and regulated by the Financial Conduct Authority