SOURCE: iovation

iovation

October 08, 2015 08:15 ET

iovation Shares Strategies to Detect Loan Origination Fraud

Fraud Protection Firm Presents at LEND360, Online Lending's Premier Conference in Atlanta

PORTLAND, OR--(Marketwired - Oct 8, 2015) - iovation, the digital reputation authority, today announced it will detail ways to detect fraud at short-term loan origination at LEND360, the online lending industry's premier conference. Jay Johns, iovation's Business Development Representative, will speak alongside Kevin King, Senior Consultant at ID Analytics, and Bilal Rizvi, Director of Fraud & Verification Strategy at Prosper Marketplace. The presentation, "Mitigating the Risk of Fraud," takes place Wednesday, October 14 at 11:30am EDT at the Sheraton Atlanta.

"It's essential to be aware of fraud when it first strikes even when it's outside of your specific industry," said Johns. "For instance, we've found that 93 percent of initial fraud occurrences using a stolen identity took place within a single market then expanded to new industries after nine to 12 months. It's also imperative to detect fraud at loan origination rather than at fund disbursement. That's because mitigating fraud after it's occurred is an extremely costly and time intensive process."

During Johns' LEND360 presentation, he will specifically address:

  • Understanding fraud behaviors and evasion techniques at loan origination
  • The latest lending fraud trends and ways criminals leverage identity
  • The scale at which fraud loss impacts the lending industry
  • How to determine a transaction's risk level by analyzing anomalies around velocity, geolocation, Real IP and other factors

Many of the top online lending companies leverage iovation's device behavior intelligence, and contribute millions of fraud and abuse reports back to iovation. This intelligence about billions of devices, coupled with iovation's authentication and mobile SDK solutions, helps lenders stop fraud and identify trusted customers, helping reduce fraud while improving the consumer experience.

LEND360 takes place from October 13 to 15. iovation will be exhibiting there at booth #337.

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 billions 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 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.

Contact Information

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