iovation Named a Finalist for the 2011 Merchant Risk Council Emerging Technology Award
PORTLAND, Ore. – February 15, 2011 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, announced today that the Merchant Risk Council (MRC) has named iovation as a finalist for the 2011 MRC Emerging Technology Awards (METAwards) that recognize the most innovative payment, fraud and security tools in electronic commerce.
The MRC METAward finalists have been chosen by the merchant judging panel as leaders in helping online and multi-channel merchants mitigate online payment risks, advancing the MRC’s vision of making electronic commerce more efficient, safe and profitable. The judging panel is comprised of representatives from leading brands including BestBuy.com, eBay, Go Daddy, HP, Microsoft, NCsoft, Tiffany & Co., and Urban Outfitters, among others.
Highlights of iovation’s latest enhancements include:
- The Release of ReputationManager 360. Including real-time risk analysis and customized weighted business rules, this superior fraud protection service leverages the largest device reputation repository on the planet, including shared intelligence on half a billion devices and their associations, in addition to monitoring transaction anomalies, velocities, and geolocation.
- Digest of Suspicious Activity. This powerful report delivers detailed information for all transactions that trigger any of a client’s configured criteria. Augmenting iovation’s real-time services, the Digest allows clients to leverage iovation's knowledge about a transaction's geolocation, its relationship to risky account and device profiles, the activity of the associated device, other-subscriber experiences, and changes in a device's reputation over time.
- Real IP. Included with ReputationManager 360, Real IP adds proxy-busting features to make geolocation more accurate and better identify transactions where fraudsters are trying to evade recognition. Real IP allows clients to link seemingly unrelated accounts and behavior to one source IP and block use from unsupported or high-risk areas of the world.
- Mobile SDKs. iovation continues to advance its years of experience with mobile devices, adding capabilities including SDKs for iPhone, Android and Blackberry for robust mobile device reputation that benefits from all the features of ReputationManager 360.
- Scalability and Availability. iovation has tripled its throughput and storage capacity while continuing to scale its distributed architecture ahead of growing demand. iovation handles billions of transactions a year and is capable of handling many more.
“iovation is honored to be recognized by industry leaders in e-Commerce for innovative fraud-fighting tools. Combating online fraud and abuse is no easy task and we don’t do it alone. iovation works in concert with thousands of fraud analysts around the globe,” says Greg Pierson, Founder and CEO, iovation. “Together we’re stopping 150,000 fraud attempts every single day.”
About the Merchant Risk Council
The Merchant Risk Council leads industry networking, education, benchmarking and advocacy programs designed to make electronic commerce more efficient, safe and profitable. Today, with the power of its member-base, the MRC is the leading trade association for managing payments, preventing online fraud and promoting secure e-Commerce. The MRC is dedicated to working with e-Commerce and multi-channel merchants, payment processors, credit card issuers, credit card brands, alternative payment providers, risk management leaders, and a variety of law enforcement agencies to improve the online shopping channel.
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 multifactor authentication methods, iovation safeguards tens of millions of digital transactions each day.