Jon Karl will address how to apply big data for financial risk management alongside representatives from FICO China, Avant and Rong360

iovation, the provider of device intelligence for authentication and fraud prevention, today announced that it will speak tomorrow about the application of big data into financial risk management in China’s high-growth lending environment at an international credit conference in San Francisco. Jon Karl, iovation’s co-founder and vice president of corporate development, will participate in the panel with FICO China’s Vice President and General Manager, Sandy Wang, Avant’s Director of Data Engineering, Robert Krzyzanowski, and Rong360’s Chief Risk Officer, Yinghao Li.

“Internet finance is revolutionizing China’s financial industry and presents tremendous opportunities for entrepreneurs, professionals and investors in both China and the U.S.,” said Karl. “We anticipate cybercriminals who are always looking for the next hot space to try and take advantage of this enormous growth by perpetrating their fraudulent schemes in this area. Only by exchanging intelligence can we fend off the onslaught by fraudsters. We have a significant set of customers in the Asia Pacific market already using the iovation consortium of threat intelligence to stop fraud, and we expect continued growth in the region.”

The panel discussion takes place on Jan. 28 from 1 to 1:45pm PST at the 2016 Continuum SF Innovation & Credit Conference. The conference is the only industry event dedicated to Chinese/U.S. collaboration in the Internet finance industry. There are three main elements of Internet finance that the conference will address: 1) credit data bureaus which Continuum estimates is a $14 billion industry in China, 2) peer-to-peer lending which Continuum states had a transaction volume of about $40 billion in China in 2014 and 3) micro-lending which Continuum estimates is a multi-billion-dollar market.

American Banker and the Bank Administration Institute (BAI) recently selected iovation for its “FinTech Forward Company to Watch” award for its unique approach to stopping fraud and identifying good customers. Many of the top online lending companies leverage iovation’s fraud prevention and authentication services and contribute millions of fraud and abuse reports back into its global device intelligence network. This intelligence, including 30 million fraud reports on nearly 3 billion devices, helps lenders determine the propensity for a transaction to be fraudulent and to quickly identify trusted customers.

The 2016 Continuum SF Innovation & Credit Conference is being held Jan. 27 to 28 at San Francisco’s Pier 27.

iovation is a leader in fraud prevention solutions and regulatory compliance such as EU GDPR and PSD2.

About TransUnion

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.

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