PORTLAND, Ore. – April 26, 2011 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced it has been named to the Top 20 Most Innovative Gaming Technology Products Awards, sponsored by Casino Journal magazine.
The Top 20 competition recognizes the most innovative technology offerings in the gaming space as determined by a panel of judges representing a cross-section of the industry. The judges evaluated more than 80 entries for this year’s competition and winners will be recognized during the Gaming Technology Summit, held May 23-25, 2011 at Green Valley Ranch Resort in Henderson, Nevada.
iovation protects online gaming businesses from fraud and abuse while protecting the identity and privacy of consumers. iovation focuses on the reputation and risk associated with the device being used to connect to the online gaming site, rather than using personally identifiable information or financial information. Gaming companies leverage ReputationManager 360 to set customized business rules which allows them to assess risk at various integration points within online casinos, sportsbooks, bingo sites and poker networks. Fraud evidence from other industries is often leveraged to help detect cyber criminals and shut down global fraud rings.
Year-to-date, based on all gaming transactions, iovation has:
- Reviewed 200 million gaming transactions for fraud and abuse.
- Flagged 5 million gaming transactions (2.5% of total) for fraud or suspicious behavior most commonly related to credit card fraud, insufficient funds, customer requested exclusions, promotion abuse and policy violations.
- Screened more than 1 million gaming transactions from each of the following countries: United Kingdom, Russian Federation, Canada, Germany, Italy, Romania, Spain, Brazil and France.
- Seen the highest percentage of denied transactions from the following countries: Jamaica, Panama, Turkey, Albania and the Bahamas.
- Identified over 1 million transactions originating from mobile devices. Of those, 50% were iPhone and 30% iPad, followed by Android and Blackberry.
"We're excited to be recognized with this award. This is an industry that has been very important for iovation since our inception, and our gaming customers continue to be amongst the most passionate in employing device reputation," said Jon Karl, Vice President of Corporate Development at iovation Inc.
iovation protects online businesses and their end users against fraud and abuse through our industry-leading combination of shared device reputation and real-time risk evaluation. 2,000 fraud managers around the globe leverage iovation’s database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation’s knowledge base of 600 million devices from every country in the world. Every day, iovation protects more than 7 million transactions and stops over 150,000 fraud attempts. For more information, visit www.iovation.com.