PORTLAND, OR--(Marketwired - Feb 6, 2014) - iovation, stopping Internet fraud and identifying good online customers by leveraging the world's largest device reputation database, today announced that Forrester Research, Inc., one of the world's most respected independent research firms, included the company in its report; "Market Overview: eCommerce Fraud Management Solutions, 2014." The landscape report included iovation's ReputationManager 360, citing its device reputation, associations and commercial evidence as its top three technology differentiators.
"As eCommerce becomes bigger and more global and as digital devices and card-not-present transactions become more common, fighting online fraud is becoming more important and more complicated. Fraud management solutions must perform a difficult balancing act -- they must improve detection rates while not preventing legitimate transactions," Forrester analysts Peter Sheldon, Andras Cser and Lily Varon state in a key takeaway of the report1.
With its ReputationManager 360 service, iovation works behind the scenes to identify in real time devices that have a propensity to conduct fraudulent transactions while at the same time flagging trustworthy customers. This results in a higher fraud catch while ensuring a frictionless process for legitimate customers.
"While stopping fraud is our primary goal, we can't lose sight that creating a frictionless process is a prime business objective for our customers," said Scott Olson, Vice President of Product. "Being recognized in this report by such a respected analyst organization is an honor, and we will continue to enhance our solutions to help businesses combat fraud while improving their online customer experiences."
iovation monitors the reputation of devices that have been used in more than 11 billion transactions from around the world; 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 in real time whether any device has been, or is likely to be, a source of fraudulent transactions.
Forrester clients can view and others can purchase the report at http://www.forrester.com/Market+Overview+eCommerce+Fraud+Management+Solutions+2014/fulltext/-/E-RES110623.
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 Market Overview: eCommerce Fraud Management Solutions, 2014, Forrester Research, Inc., February 4, 2014