SOURCE: iovation

iovation

February 11, 2015 08:15 ET

iovation Launches Device-Based Authentication to Reduce Account Takeover Threats and Avoid Unnecessary Customer Challenges

By Using the Customer's Device as a Second Factor of Authentication, Businesses Can Reduce Operational Cost, Increase Security and Minimize Customer Friction

PORTLAND, OR--(Marketwired - Feb 11, 2015) - iovation, the trusted source for mobile and online fraud prevention, today announced the immediate availability of its device-based authentication service. iovation's device-based authentication uses a customer's known devices -- such as a laptop or mobile phone -- to verify authorization to access their account.

Hackers use phishing attacks and data breaches to obtain usernames and passwords on a daily basis. At the same time, verification that relies exclusively on receiving a text with an authentication code or a series of challenge questions can create a poor user experience, resulting in customer frustration, lost revenue and increased cost.

"We've all been there as consumers; we can't remember our challenge question answers, or need to take time out of our day to verify our device with an authentication code received via text or email," said Scott Olson, Vice President of Product at iovation. "We're excited to launch iovation's device-based authentication because it minimizes many of these impediments for customers while strengthening security for user accounts."

iovation's device-based authentication seamlessly adds a second factor of authentication by checking a consumer's device at login, reducing the number of times a customer gets challenged. This increases security, decreases friction and reduces operational costs. When iovation's device-based authentication recognizes that a device is new, has never been used to access an account, or serves as a kiosk or public computer, a business can proceed with traditional two-step verification methods such as texting authentication codes, or prompting challenge questions.

Combine iovation Authentication and Risk Services to Stop Account Takeover

iovation's device-based authentication works seamlessly with its risk service to provide comprehensive protection against account takeover. Together these can identity fraud rings, track fraudsters using stolen credentials, and ensure that the only people accessing their accounts are the real account holders. This helps companies know who to trust based on the globally shared consortium data of more than 2 billion devices, 20 million fraud and abuse reports, and the customized business rules set by the individual companies.

Change Tolerant Device Recognition

iovation's authentication technology uses strong device recognition independent of cookies and is not tied to a single IP address. As a customer's device characteristics evolve naturally over time with changes -- such as browser and operating system versions, or location and IP address -- iovation's account-specific recognition adapts to these new conditions. Less sophisticated approaches to device recognition have frustrated users who have to re-authenticate due to cookie deletion or changing locations.

For more details about device-based authentication, attend iovation's webinar on Wednesday, Feb 25 at 2pm GMT/9am PST by registering at http://bit.ly/18kXNrq.

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 3,000 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of more than 2 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