As Cyber Monday approaches, iovation provides insight to prevent mobile fraud using adaptive analytics trained from billions of transactions
iovation, the provider of device intelligence for authentication and fraud prevention, today announced it will host a webinar entitled “'Tis the season: Combatting Online Fraud with Machine Learning” Nov. 8 at 7am and 10am PST. The webinar will address the rising amount of fraud originating from mobile devices during the holiday season and using big data insights to reduce risk. Eddie Glenn, product marketing manager of iovation’s fraud prevention platform, and Kent Dahlgren, product manager for iovation’s mobile and device recognition capabilities will lead the webinar.
“Last year during Thanksgiving weekend, transactions originating from mobile phones and tablets increased significantly from past holiday seasons—peaking at 48 percent. Concurrently, the amount of fraud from mobile increased significantly,” said Glenn. “While convenient for consumers, mobile devices make it difficult for businesses to determine whether a user interacting with a website is trusted.”
Sophisticated fraudsters mask their true identity through techniques like hiding their location, hijacking accounts, and using stolen credit cards and credentials. Using machine learning techniques, fraud prevention professionals can gain insight into the past behavior of individual devices used for transactions and better assess whether those transactions may be fraudulent. In the webinar, Dahlgren and Glenn will address these points and specifically discuss:
- The importance of understanding techniques to uniquely recognize mobile devices and determine if risk indicators reveal a potential for fraud
- Security risks and concerns of an unsafe mobile app
- How to utilize machine learning to predict the likelihood that a transaction will be fraudulent
- The ideal approach to prevent online and mobile fraud this holiday season
iovation recently launched its iovationScore service, which is the industry’s most robust machine learning fraud detection solution. Using adaptive analytics trained from more than 23 billion online transactions, it provides businesses with the power to predict the trustworthiness or riskiness of an online transaction even if they have never seen the customer or device before. In addition, iovationScore reduces friction for existing trustworthy customers by eliminating time-consuming and frustrating step-up challenges like one-time passwords.
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
For more details and to register for the webinar, go to http://bit.ly/2fbKEYI.
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.