PORTLAND, OR--(Marketwired - Jan 27, 2016) - iovation, the provider of device intelligence for authentication and fraud prevention, today announced that it will speak tomorrow about the application of big data into financial risk management in China's high-growth lending environment at an international credit conference in San Francisco. Jon Karl, iovation's co-founder and vice president of corporate development, will participate in the panel with FICO China's Vice President and General Manager, Sandy Wang, Avant's Director of Data Engineering, Robert Krzyzanowski, and Rong360's Chief Risk Officer, Yinghao Li.
"Internet finance is revolutionizing China's financial industry and presents tremendous opportunities for entrepreneurs, professionals and investors in both China and the U.S.," said Karl. "We anticipate cybercriminals who are always looking for the next hot space to try and take advantage of this enormous growth by perpetrating their fraudulent schemes in this area. Only by exchanging intelligence can we fend off the onslaught by fraudsters. We have a significant set of customers in the Asia Pacific market already using the iovation consortium of threat intelligence to stop fraud, and we expect continued growth in the region."
The panel discussion takes place on Jan. 28 from 1 to 1:45pm PST at the 2016 Continuum SF Innovation & Credit Conference. The conference is the only industry event dedicated to Chinese/U.S. collaboration in the Internet finance industry. There are three main elements of Internet finance that the conference will address: 1) credit data bureaus which Continuum estimates is a $14 billion industry in China, 2) peer-to-peer lending which Continuum states had a transaction volume of about $40 billion in China in 2014 and 3) micro-lending which Continuum estimates is a multi-billion-dollar market.
American Banker and the Bank Administration Institute (BAI) recently selected iovation for its "FinTech Forward Company to Watch" award for its unique approach to stopping fraud and identifying good customers. Many of the top online lending companies leverage iovation's fraud prevention and authentication services, and contribute millions of fraud and abuse reports back into its global device intelligence network. This intelligence, including 30 million fraud reports on nearly 3 billion devices, helps lenders determine the propensity for a transaction to be fraudulent and to quickly identify trusted customers.
The 2016 Continuum SF Innovation & Credit Conference is being held Jan. 27 to 28 at San Francisco's Pier 27.
About iovation
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, device-based authentication and real-time 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 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 15 million transactions and stop an average of 250,000 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.
Contact Information:
CONTACTS:
iovation Inc.
Connie Gougler
503-943-6748
