April 29, 2009
iovation Announces Unique Anti-Fraud Risk Score Based on Device Intelligence
iovation Risk Module Leverages the Power of Device Reputation to Provide Unique Risk Scoring for Devices New to iovation’s Global Fraud and Abuse Database
Portland, Ore. – April 29, 2009 – iovation, The Device Reputation Authority™ for the Internet, announced today that it is now offering iovation Risk Module, an add-on service to iovation ReputationManager that scores new and unknown devices on the Internet. iovation is expanding its device reputation platform, which has profiled over 1 billion devices and tracked over 100 million unique devices for their customers. This platform allows iovation to offer unique risk scoring that is not based on personally identifiable information (PII) provided by the online user, and takes full advantage of iovation’s vast experience profiling fraudulent and abusive devices.
iovation has been helping their customers combat online fraud and abuse since 2004 by using device fingerprints to create device reputations that can be provided to iovation customers in real time. iovation ReputationManager is based on device recognition certainty and fact-based evidence that virtually eliminates false positives. Now customers can not only act on the reputations for devices known by the iovation network, they can also receive risk scores for new devices that match the profiles and behaviors of devices associated with fraud and abuse. What makes iovation’s risk scoring service unique is that it continues to provide all of its benefits without requiring any PII from online users.
“The rapid growth of our Device Reputation Authority database allows us to provide this unique risk scoring service,” said Greg Pierson, CEO of iovation. “Having profiled over a billion transactions on our customers’ networks and tracking the online reputations of over 100 million unique devices allows us to provide the only online risk scoring service based on device reputation without the use of sensitive personal information. We can quickly identify behavior and profile matches of high-risk computers even if the device is brand new to our customers.”
iovation Risk Module complements the real-time iovation ReputationManager by providing a daily report of the highest risk devices that have visited our customers websites. Interactions at our customers’ websites are flagged based on device profile matches, IP address risk and behavioral characteristics typically used by online scammers. High-risk transactions can quickly be followed up on in the iovation ReputationManager administrative console where scammers can be blocked from future activity and prevented from harming the network. The compatibility between the two services makes it even easier and faster to prevent online fraud and abuse.
“Early in the pilot of this new service, current iovation customers found this to be an invaluable addition to our flagship service. We can highlight problems other systems would simply never catch,” said Pierson. “We will begin offering iovation Risk Module to all of our customers and prospects so they can prevent fraud and abuse committed from any device, even devices that our new to our database.”
About iovation
iovation, headquartered in Portland, Oregon, pioneered the use of device reputation for managing online fraud and abusive behavior. iovation unlocks the power of device identification by sharing the reputations of 100 million unique devices, allowing businesses to reduce more online fraud and abuse while benefiting from sharing device reputation intelligence. Today, iovation performs more than 3 million daily fraud checks for its customers and helps stop over 11,000 fraudulent activities every 24 hours. For more information on iovation and the company's products, visit www.iovation.com.
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