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iovation Cyber Fraud Solution Finalist for Merchant Risk Council Emerging Technology AwardReputationManager 360 Recognized for Unique Approach to Fighting Fraud by Using Collective Intelligence to Associate and Identify High-Risk Devices (March 13, 2012)
PORTLAND, OR -- (Marketwire) -- 03/13/12 -- iovation, the Device Reputation Authority protecting online businesses from fraud and abuse, today announced that judges appointed by the Merchant Risk Council (MRC) have selected iovation's ReputationManager 360 solution as a finalist for the MRC's Emerging Technology Award (METAward) for the second year in a row. The award recognizes the most advanced solutions helping merchants mitigate online payment risks to make e-commerce more efficient, safe and profitable. A panel consisting of leaders from some of the world's top online merchants chose iovation as a finalist for the award.
"While leading merchants recognized iovation's ReputationManager 360 solution for its groundbreaking features last year, this year they have taken notice of its exploding customer base and the vast number of devices for which we manage reputation," said Jon Karl, Vice President of Corporate Development at iovation. "This customer and device knowledge ecosystem -- baked into ReputationManager 360 -- makes our solution extremely unique and powerful."
ReputationManager 360 allows merchants to submit verified fraud events into the product's shared, anonymous database, a different approach than other products on the market. By utilizing this collective evidence and experience from other online companies to help assess risk on transactions, merchants can dramatically expand their fraud knowledge and surveillance beyond their corporate walls. Providing merchants with a live view of the hidden associations between accounts or transactions is also unique to iovation, exposing and shutting down fraudsters who are working together.
Over the past year, the number of unique devices, including computers, tablets and mobile phones, in iovation's shared database grew by more than 70 percent to 900 million. The clients contributing data and relying on iovation's ReputationManager 360 service grew 38 percent last year, with businesses ranging from the most recognizable Fortune 500 enterprises to medium-sized companies in industries like financial services, insurance, retail, logistics, travel, dating, social networking and gaming/gambling.
The 2012 METAward winner will be announced at the MRC's 10th Annual e-Commerce Payments and Risk Conference at the Wynn Resort in Las Vegas, which runs from March 27 to March 29, 2012.
In addition to being a finalist for the METAward, iovation will also be hosting a Merchant Focus Group panel at the MRC conference, which will highlight tactics to combat account takeovers and fraudulent account creation using stolen identities. Jon Karl of iovation and Ken Pruett, Product Manager Director of Fraud and Identity Solutions at Experian, will share insights into this trend, and how successful fraud-fighting teams are detecting and combating both account hijacking attempts and identity theft.
For more information on iovation's MRC Merchant Focus Group panel and to sign up, go here.
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 900 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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