PORTLAND, Ore – April 7, 2015 – iovation, the trusted source for mobile and online fraud prevention, has been named a finalist in the 31st annual Technology Association of Oregon (TAO) Oregon Technology Awards (OTA) in the growth category. TAO evaluates technology companies with annual revenues between $20 million and $100 million for the category, and iovation is a finalist alongside Navis, Peak Hosting and Puppet Labs. Companies are awarded based on revenue, income and employee increases for the three-year period from 2011 to 2014.
“It’s been an amazing three years at iovation with revenue growing by 85 percent, ten consecutive quarters of increasing profitability, a rapidly growing international client portfolio and the number of employees expanding by 40 percent,” said iovation’s Chief Financial Officer, Doug Shafer. “But of course iovation’s growth over the last few years wouldn’t be possible without happy customers. I’m proud to also announce that we are leading our market in customer satisfaction and it shows with our 98 percent customer retention rate.”
In addition, in just the past year iovation has:
- Increased its overall customer base by 25 percent. This includes new customers in every industry iovation serves and most notably in financial services, gaming, retail and insurance.
- Increased the number of Internet-enabled devices it has behavioral insights into by 24 percent. Its cybercrime intelligence network now includes 2.5 billion devices such as laptops, desktops, mobile phones, tablets, gaming consoles and smart TVs.
- Protected 21 percent more transactions with 36 percent of all transactions iovation analyzed last year coming from mobile devices.
- Grew the client base for its Trust service, which leverages positive reputation to allow clients to offer their trusted customers the best marketing promotions and high-end offers.
- Launched its device-based authentication solution, which uses a customer’s known devices as a frictionless second factor of authentication.
- Made major updates to its Mobile Software Development Kit (SDK). This solution protects mobile traffic coming from the Web, or native or hybrid apps, identifies jailbroken iOS and rooted Android devices, detects transactions that originate from virtual machines or emulators, and discovers mismatches of geolocation data.
Clients leverage iovation’s global consortium containing 2.5 billion devices and their associations with other devices and the accounts they log into, plus 22 million client-reported fraud and abuse records to determine the fraud risk in a transaction. They can choose up to 45 granular fraud types to consider in their risk checks, such as identity theft, credit card fraud, account takeover and shipping fraud. Within 200 milliseconds, iovation’s service responds with an allow, review or deny response, after running a client’s customized risk assessment. Banks, retailers, telcos, gaming companies and others use iovation’s service directly, or through partner integrations with Equifax, Fiserv, Accertify, ACI Worldwide or ID Analytics.
The Oregon Technology Award winners will be announced in a ceremony on April 30, 2015 at the Portland Art Museum. To see a list of finalists, go to techoregon.org/company-and-technology-finalists.
iovation, a TransUnion company, was founded with a simple guiding mission: to make the Internet a safer place for people to conduct business. Since 2004, the company has been delivering against that goal, helping brands protect and engage their customers, and keeping them secure in the complex digital world. Armed with the world’s largest and most precise database of reputation insights and cryptographically secure multi-factor authentication methods, iovation safeguards tens of millions of digital transactions each day.