PORTLAND, OR--(Marketwired - Oct 6, 2016) - iovation, the leading provider of device-based solutions for authentication and fraud prevention, today announced it will discuss how machine learning can be used to detect and prevent mobile fraud at the upcoming Merchant Risk Council (MRC) Atlanta 2016 conference. Eddie Glenn of iovation will present in the session entitled "Fraud Prevention in Today's Mobile World Requires More Than Device IDs" on Tuesday, October 11 from 2:30-3:10pm EDT at the InterContinental Buckhead Atlanta.
"By the end of 2015, there were more than 4.7 billion unique mobile device users globally, and that number is expected to grow to about 5.7 billion by 2020," said Glenn. "This spike in mobile usage increases the difficulty to accurately determine someone is who they claim to be. Utilizing machine learning, businesses are better positioned to uncover otherwise hidden associations between accounts and devices to prevent fraud loss."
In the session, Glenn will detail how machine learning reveals global patters and subtle indicators for risk. He will also outline how pairing self-taught algorithms in a multilayered approach enables businesses to be automatically updated about threats while enforcing fraud prevention policies. In addition, Glenn will address the rising mobile adoption trends and their impact on pinpointing fraudulent transactions.
iovation recently launched the industry's most robust machine learning fraud detection solution -- iovationScore. Trained from more than 23 billion online transactions, the solution helps businesses predict the trustworthiness or riskiness of an online transaction even if they have never seen the customer or device before. In addition, it reduces friction for existing "known good" customers by eliminating time-consuming and frustrating step-up challenges. It also helps reduce fraud prevention costs by minimizing resource-intensive manual reviews and eliminating the need for expensive verification tools for trusted transactions.
MRC Atlanta 2016 runs from October 10-12, 2016. For more information about iovation's session, go to https://events.merchantriskcouncil.org/atlanta/.
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, multi-factor authentication and real-time machine-learning risk evaluation. More than 3,500 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of more than 3 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 more than 16 million transactions and stop an average of 300,000 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.