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iovation and TeleSign Pair Device Reputation Management With Intelligent Authentication to Fight Online Fraudiovation's ReputationManager 360 Solution, and TeleSign's Phone-Based Authentication and PhoneID Provide Automated Mechanism for Validating Online Transactions (March 26, 2012)
PORTLAND, OR and LOS ANGELES, CA -- (Marketwire) -- 03/26/12 -- iovation, the Device Reputation Authority protecting online businesses from fraud and abuse, and TeleSign, a market leader in Internet fraud prevention and Intelligent Authentication, today announced a partnership to offer iovation's ReputationManager 360 solution with TeleSign 2FA, TeleSign Verify and PhoneID. This marks the first time a phone-based authentication service has been paired with a global device reputation tool to fight online fraud.
"The combination of TeleSign's phone-based authentication and verification with our ReputationManager 360 platform provides customers an additional level of confidence when deciding whether to accept or reject online transactions," said Molly O'Hearn, iovation's Vice President of Operations. "There's no other service on the market that so tightly couples global device reputation and phone-based authentication and verification, minimizing manual reviews by clients, chargebacks, and risk. The resulting efficiencies are extremely powerful."
The joint offering detects fraud and abuse in online consumer interactions, from purchasing goods at e-commerce sites to submitting an online credit application, to joining online dating services. ReputationManager 360 analyzes online transactions for its clients and flags questionable users based on the reputation and attributes of the devices they're using. If a transaction is considered potentially fraudulent, then TeleSign's Two-Factor Authentication service kicks in. It sends an automated voice call or SMS to the phone number on record with a one-time PIN code used to verify that the person conducting a transaction matches the user on record. Additionally, TeleSign's PhoneID provides details about a user's phone number enabling customers to quickly assess risk. Besides providing an automated mechanism for validating questionable transactions, the joint offering enables iovation customers to add two critical FFIEC (Federal Financial Institutions Examinations Council) compliance security layers, and provides an additional level of defense against Man in the Browser (MitB) attacks.
"The partnership with iovation provides multi-layered intelligent authentication and the ability to verify high-risk transactions," said Forrest Hobbs, TeleSign's Vice President, Sales and Marketing. "By pairing up with iovation's unique device reputation solutions, online businesses can have greater confidence when determining whether or not a transaction is trustworthy."
ReputationManager 360 combats cyber fraud through actionable intelligence, sharing real-time risk assessment and reputation amongst hundreds of customers and the thousands of cyber security experts who use the iovation tool. This unique iovation capability makes it possible to proactively identify devices that are associated with abuse before bad actors can strike. In addition, iovation helps online sites visualize associations between devices and among individuals, often exposing fraud rings that would otherwise remain hidden. ReputationManager 360 manages the reputation of 900 million devices and 7 billion associated transactions, from computers to tablets to mobile phones, across a broad range of industries.
The largest and most recognizable brands trust TeleSign to protect account access and prevent fraudulent transactions online. TeleSign's suite of Intelligent Authentication products improves the user experience while reducing operating costs associated with traditional multi-factor authentication methods and fraud fighting techniques. TeleSign Verify and TeleSign 2FA leverage the most widely available piece of technology -- a user's phone -- to authenticate or validate users in real-time. Additionally, TeleSign's data products provide critical business intelligence, enabling customers to detect and block fraud more efficiently. An expanding portfolio of patented technology ensures that customer and partners have the tools necessary to stay ahead of the dynamic fraud landscape.
Every second, of every day, TeleSign protects the Internet and Cloud against fraud with Intelligent Authentication. TeleSign services provide an easy-to-implement and powerful method for identifying and substantially reducing online fraud and spam using the most widely deployed technology available worldwide -- a user's phone. TeleSign serves organizations of all sizes including some of the world's largest and most prominent web businesses. The company has executed more than one billion authentication and verification transactions in more than 200 countries and 87 languages. In 2011, TeleSign ranked #15 on the Deloitte Technology Fast 500 and was named Visionary in Gartner's User Authentication Magic Quadrant.
For more information about TeleSign, visit www.telesign.com
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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