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Gartner Names iovation Visionary in Magic Quadrant for Web Fraud DetectionCited for Strengths in Device Reputation Sharing, Product Reliability and Ease of Use, and Responsiveness (May 31, 2012)
PORTLAND, OR -- (Marketwire) -- 05/31/12 -- iovation, the Device Reputation Authority protecting online businesses from fraud and abuse, today announced that it has been named a visionary in the Magic Quadrant report for Web fraud detection by Gartner, Inc. -- the world's leading information technology research and advisory company. Gartner's Magic Quadrant is widely recognized as one of the most influential market analysis tools for enterprises seeking to evaluate information technology vendors.
"The tool (iovation's ReputationManager 360 solution) enables easy analysis of relationships between attributes, such as devices and accounts," wrote analyst Avivah Litan in the report. "Users can easily spot rings of suspicious activity -- for example, where a few 'bad' devices have been accessing multiple accounts." Litan also cites iovation's product reliability and friendly user interface, quick and easy system integration, and employee responsiveness as strengths.
ReputationManager 360 evaluates the risk of fraudulent transactions among 950 million devices such as computers, tablets and mobile phones across a broad range of industries. The solution combats cyber fraud through actionable intelligence, sharing the latest cyber fraud methods and high-risk devices across hundreds of customers and thousands of cyber security experts. ReputationManager 360 has protected more than 7.5 billion online transactions to date.
"We are honored to be positively recognized as a Visionary by Gartner in the Magic Quadrant for Web fraud detection for the second year in a row," said Greg Pierson, CEO and co-founder at iovation. "Gartner's findings in this report further validate iovation's unique capability to proactively identify devices that are associated with abuse before bad actors can strike."
Gartner estimates that the Web fraud detection market grew about 25 percent in 2011 as unrelenting cyberattacks and data breaches persisted. Its Magic Quadrant evaluation is based on vendors' completeness of vision, including market understanding, product strategy and innovation, among other criteria. The Magic Quadrant also assesses vendors' ability to execute, which includes operations and overall viability.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of shared device reputation and real-time risk evaluation. More than 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 950 million devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.
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