Multifactor authentication and online fraud prevention leader showcases the latest advancements in machine learning to further predict online gambling fraud
iovation, the leading provider of device intelligence for authentication and fraud prevention, today announced it will present at the MGS Entertainment Show in Macau. The presentation, “Going All In: Leveraging the Latest Technology to Build the Best User Experience for your Players while Keeping Fraudsters Out,” will be delivered by iovation Product Marketing Manager Eddie Glenn at 4:30pm China Standard Time on Nov. 17 at the Venetian Macau.
“Online gambling is expected to be a $70 billion industry by 2020 with new sites popping up every day. Fraudsters are taking notice of this popularity by developing sophisticated schemes targeting those sites and their users,” said Glenn. “To ensure the success of iGaming businesses, companies must concentrate on keeping fraudsters out, and creating the best and most engaging experience that attracts new players and retains existing ones.”
In the session, Eddie Glenn will discuss how predictive, adaptive transaction scoring using real-time machine learning, device intelligence and frictionless customer authentication at login can help gambling sites achieve the best user experience for players while stopping fraud. He will share how these technologies have helped other gambling sites win and retain more customers while beating the bad guys.
“Our mission is to make the internet a safer place. We help businesses stop online fraud and abuse. For gambling clients, that means helping them prevent credit card fraud, bonus abuse, affiliate fraud, policy or license agreement violations, and other abuses,” continued Glenn. “Our clients also protect their customers from account takeover and identity theft through iovation’s service.”
iovation analyzes transactions from devices that interact with iGaming sites, such as PCs, laptops, tablets and smartphones. If a device is associated with credit card fraud, identity theft, or other forms of fraud or abuse, the specific type of fraud is reported into the iovation system. When that same device returns and attempts to register with stolen identities or violates site policies on an iovation protected site, the previous fraudulent activity associated with that device is available for clients to act on in real time. iovation’s clients decide what action to take, whether that is to outright deny the transaction, send it to a review team for further investigation, or accept the transaction.
iovation recently launched the industry’s most robust machine learning fraud detection solution—iovationScore. Trained from more than 23 billion online transactions, the solution helps businesses predict the trustworthiness or riskiness of an online transaction even if they have never seen the customer or device before.
In February of 2016, iovation was certified by the State of Nevada to provide services that help reduce online gambling fraud.
iovation's solutions portfolio tackles the heightened threat environment from multiple directions, including through device-based risk detection and consumer authentication services. Highly intelligent business rules, combined with proprietary machine learning algorithms, flag anomalies around hundreds of attributes and obscure risk factors, offering the highest degree of confidence when it comes to stopping fraud and improving customer experience in the finance, insurance, ecommerce, social media, travel, ticketing, telecommunications, gaming, and gambling industries.
TransUnion Global Fraud & Identity Solutions unite both consumer and device identities to detect threats across markets while ensuring friction-right user experiences. The solutions, all part of the IDVision with iovation suite, fuse traditional data science with machine learning to provide businesses unique insights about consumer transactions, safeguarding tens of millions of transactions each day.