PORTLAND, OR--(Marketwire - Sep 27, 2012) - iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that 12 percent of all financial services transactions it protects originate from mobile devices, such as iPhones, iPads, Android and BlackBerry devices. Compared to the same period in 2011, where only 2 percent of financial transactions were from mobile devices, it is clear that consumers are adapting quickly to mobile banking technology.
"From iovation's global device view, we see firsthand proof that mobile banking is gaining traction. While financial institutions are in a race to offer consumers more mobile services, many leap before considering how to secure those transactions," said Greg Pierson, iovation's CEO and Co-Founder. "We want to help industry professionals determine their mobile security and risk management strategy upfront so that protection is already in place when rolling out new mobile offerings."
According to the Gartner report "Forecast: Mobile Payment, Worldwide, 2009-2016," the analyst firm expects mobile payment transaction volumes and values to grow 42 percent annually through 2016. By then they project that the market will be worth $617 billion with 448 million users.
Mobile marketplace trends are one of the primary topics at the upcoming ID Analytics conference, Advance 2012. Greg Pierson will be speaking alongside industry leaders on a keynote panel titled "Trends in Mobility." The panel will discuss mobile payments, mobile commerce, mobile banking, as well as loyalty, rewards and proximity services (GPS-enabled services). Mr. Pierson will share fraud trends conducted from mobile devices based on iovation's global cybercrime intelligence network, and explain how companies can reduce uncertainty associated with the mobile ecosystem.
Joining Pierson on the keynote panel will be Avery Kadison, Director, Consumer Risk Management at PayPal and Donna Turner, Senior Vice President and Global Fraud Policy Executive at Bank of America. Brian Shniderman, Principal and Global Head of Mobile Payments at Deloitte Consulting LLP will host the discussion.
Advance 2012 will be held at the Omni San Diego Hotel on October 4, 2012 at 8:45am Pacific Time.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than one billion devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.