SOURCE: iovation

iovation

December 03, 2013 08:15 ET

iovation to Outline Best Practices for Fraud Prevention at Loan Origination in Upcoming Webinar

Panel to Provide Regulatory Update, Industry Trends and Lessons Learned

PORTLAND, OR--(Marketwired - Dec 3, 2013) - iovation, stopping Internet fraud and identifying good online customers with the world's largest device reputation database, today announced that it will host a webinar about how to reduce customer friction while increasing fraud catch at loan origination. The webinar entitled, "Best Practices in Subprime Loan Origination" will be a panel discussion and take place Dec. 11, 2013, at 11am Pacific Standard Time. The panel will include Joel Winston, Certified Information Privacy Professional and Partner at Hudson Cook, LLP; Doug Jackson, Head of Decision Management at General Financial; and Jay Johns, Business Development Representative at iovation.

"The speed and overall volumes of loans made through alternative financing make it a prime target for fraud," said Johns. "While the goal is to catch fraudsters before they swindle lenders, it is important to minimize unnecessary delays and authentication methods that introduce customer friction. It is also critical to avoid false positives reflecting incorrect identification, which deny financing to good customers. In this webinar, I'm looking forward to helping lenders realize how they can expedite the loan process for good customers, while at the same time stopping bad actors early in the process."

The webinar will specifically address:

  • Recent regulatory developments in subprime lending
  • How industry trends, such as a move toward higher loan amounts and installment loans, might influence risk strategies
  • Why mobile introduces opportunity and risk
  • Methods to reduce front-end customer friction without increasing fraud loss
  • How to recognize and prevent fraud at loan origination

"Demand for consumer financing in the U.S. is growing at more than 5 percent per year1, challenging lenders to adapt to rapid customer acquisition and an ever-changing environment," said iovation Director of Business Development Steve Hanson. "Therefore it's essential that lenders stay apprised of the latest industry developments and regulations so they can develop customized strategies that benefit their clients and business."

For more information and to register for this webinar, go here.

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.

1 Federal Reserve Bank of Philadelphia, "Consumer Debt Composition and Growth,"
2013, http://www.phil.frb.org/consumer-credit-and-payments/statistics/.

Contact Information

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