Greg Pierson, co-founder of iovation, comments on the critical protections that fraud prevention and consumer authentication solutions offer in a world where so many consumers’ personal information is already available on the dark web.

Data breaches are prevalent and not slowing down, relying on systems dependent on personal data alone is inadequate. In response, companies need stronger defenses, yet this can increase the friction for good customers. We are taking a unique approach through our combination of device and identity: increase protection against the bad guys while reducing friction for good customers.

See https://www.iovation.com/authentication to learn more about iovation authentication solutions and schedule a demo today.

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Greg Pierson:
So, it just seems that or it at least feels like every other day you hear about another data breach, and today, a lot of organizations are powerless. They're worried that, "Oh, that data breach from a different organization that I had no control over, I sure hope that my customers' data is not a part of that."

Greg Pierson:
So, increasingly the bad guys have all the data, and what we want to do is help organizations continue to protect their business and protect their good customers but in this new world order where the bad guys have all the data.

Greg Pierson:
When you aren't looking at a combination of device and identity, when you don't have that combined device and identity perspective, the tendency is, Well let's just add more friction to the processes. Let's add another layer of authentication as the bad guys have more and more of my data."

Greg Pierson:
The problem is it just adds friction for good customers. This is not where we want to go. What we want to do is help organizations, ironically, increase security while reducing friction, two things that typically don't go together.

Greg Pierson:
So, what does this mean for consumers? Well, it means that in a world where the bad guys have all the data, and yesterday someone came in and could answer all your knowledge-based questions and had your actual home phone number and mobile number and email, et cetera, et cetera, combining traditional identity information with device allows us to put a very strong layer of protection in front of business services that are absolutely preventing account takeover and preventing bad guys from assuming your identity and creating an account or getting into your existing account.

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