SOURCE: Quova

March 03, 2008 09:03 ET

YOOX.COM Sets a Trend in Fraud Management With Quova

Leading Online Virtual Boutique Turns to Internet Geolocation Data to Combat Rising Fraud Levels

MOUNTAIN VIEW, CA--(Marketwire - March 3, 2008) - Quova, Inc., the leading worldwide provider of Internet geolocation data and services, today announced that YOOX.COM, the leading virtual boutique of multi-brand fashion and design in the world, has selected Quova's GeoDirectory Server to form a critical part of its fraud screening and management platform. YOOX.COM receives three million visitors every month from around the world.

As part of ongoing efforts to reduce fraud, YOOX.COM required a solution that would help increase the consistency of its incumbent fraud management systems by helping to determine a number of key risk factors: customer IP location in comparison to ship to and bill to addresses, type of connection (fixed or mobile) and whether a customer is accessing the website through an anonymizer, a tool which attempts to make Internet activity untraceable.

"Quova fits into our fraud assessment system perfectly, supplying us with fast, up-to-date data that we know we can rely upon," said Davide Di Dario, head of customer operations, YOOX.COM. "The system analyzes a range of information to ascertain the level of risk and pinpointing location plays a very important role within this. We're expecting to achieve return on our investment well within 12 months of using Quova."

Using Quova data, YOOX.COM is now able to make a thorough assessment of the risk of fraud and consequently block orders that do not meet the required level of satisfaction. YOOX.COM currently blocks around 20 percent of all orders, which are then passed through for manual processing and closer analysis by customer services.

"The problem of online fraud is escalating rapidly worldwide, putting global retailers such as YOOX.COM in serious danger of losing revenue streams from card not present fraud charge backs," commented Marie Alexander, CEO, Quova. "By using geolocation technology, retailers have a quick and easy tool with which to rapidly cross reference ship to and bill to addresses with the real geographic location of customers. Integrating such processes into anti-fraud mechanisms can not only help drastically reduce the success of fraudulent transactions, but also help to improve the customer experience by decreasing the common delays brought about by false positives."

About Quova

Quova gives online businesses the ability to determine the geographic location of their Web site visitors. The company offers the most comprehensive, deeply researched and reliable location data available today -- without compromising individual privacy. More than 300 companies of all sizes use Quova's data and services to detect and prevent fraud, ensure regulatory compliance, manage digital content rights distribution, and localize ads and web content. The company's customer base includes Microsoft, Major League Baseball, American Express, the BBC, Ladbrokes and Cisco Systems, and investors include Mobius Venture Partners and IDG. Quova was founded in 2000 and is based in Mountain View, California, with European Headquarters in Amsterdam.

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