Session entitled “Fraud Prevention in Today’s Mobile World Requires More Than Device IDs”
iovation, the leading provider of device-based solutions for authentication and fraud prevention, today announced it will discuss how utilizing machine learning can be used to detect and prevent mobile fraud at the upcoming Merchant Risk Council (MRC) Atlanta 2016 conference. Eddie Glenn of iovation will present in the session entitled “Fraud Prevention in Today’s Mobile World Requires More Than Device IDs” on Tuesday, October 11 from 2:30-3:10pm EDT at the InterContinental Buckhead Atlanta.
“By the end of 2015, there were more than 4.7 billion unique mobile device users globally, and that number is expected to grow to about 5.7 billion by 2020,” said Glenn. “This spike in mobile usage increases the difficulty to accurately determine someone is who they claim to be. Utilizing machine learning, businesses are better positioned to uncover otherwise hidden associations between accounts and devices to prevent fraud loss.”
In the session, Glenn will detail how machine learning reveals global patterns and subtle indicators for risk. He will also outline how pairing self-taught algorithms in a multi-layered approach enables businesses to be automatically updated about threats while enforcing fraud prevention policies. In addition, Glenn will address the rising mobile adoption trends and their impact on pinpointing fraudulent transactions.
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 addition, it reduces friction for existing “known good” customers by eliminating time-consuming and frustrating step-up challenges. It also helps reduce fraud prevention costs by minimizing resource-intensive manual reviews and eliminating the need for expensive verification tools for trusted transactions.
MRC Atlanta 2016 runs from October 10-12, 2016. For more information about iovation’s session, go to https://events.merchantriskcouncil.org/atlanta/.
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.