PORTLAND, Ore – May 12, 2015 – iovation, the trusted source for mobile and online fraud prevention, today announced its trust service—which identifies website visitors that are most likely to be trustworthy—has been awarded with Casino Journal’s Top 20 Most Innovative Gaming Technology Products Award.
“iovation is trusted to protect millions of transactions every day and we’re excited to be recognized for helping our customers know who to trust,” said iovation’s Chief Technology Officer, Scott Waddell. “Although iovation is known for preventing cybercrime, it’s important to note that most people are good customers and we can make life easier for them with our trust service while we continue stopping fraud.”
A panel of expert judges selected iovation’s trust service based on the return on investment it generated for its clients. Paf, an online gaming operator based in Finland, states that after implementing iovation’s trust service it lowered deny rates for trustworthy customers by 40 percent, cut manual review workloads by 33 hours a month and reduced identity requests for additional authentication.
“Our customers are very important to us—knowing who’s good makes all the difference in protecting and enhancing their experience,” said Jessica Hård af Segerstad, Data Analyst at Paf.
Like most online gaming companies, Paf is always looking for ways to balance highly rewarding marketing campaigns with the threat of high bonus abuse. iovation’s trust service helped Paf launch highly rewarding promotions to their most trusted customers with a greater degree of certainty. Paf also found that the trust service helped them evaluate and set risk-based deposit and withdrawal limits that operators use for new customers. By utilizing iovation technology, 10 percent of new customers deemed not risky can now have less deposit restrictions, even though Paf still encourages all players to set their own personal limits.
iovation’s trust service helps reduce operational expense, accelerate revenue and improve the experience for trusted customers. It identifies “good customers” by analyzing a consumer's online activity from their collective devices and shared intelligence from more than 3,000 participating fraud analysts. The trust service applies a rating to those devices based on historical behavior, which indicates the likelihood that current and future transactions from the device will be trustworthy. This unique data also allows businesses to immediately identify which new customers qualify for special offers or status, efforts that otherwise could require months of investigation.
iovation will receive the award during a ceremony on Thursday, July 16 at the Casino Marketing & Technology Conference in Las Vegas, Nev.
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.