iovation (News - Alert), a provider of device reputation services to protect businesses against online fraud, has launched its TrustScore service, which is capable of identifying safe website visitors even if they are first time visitors to the website.
Scott Olson VP of Product at iovation said, “Knowing who’s good can be as valuable as knowing who’s risky for online businesses. Today is an exciting day for iovation because we are leveraging the eight years of data built on helping customers fight online fraud, and are applying sophisticated analytics to use that data to determine who’s good.”
The solution analyzes customers’ online activity from different devices and assigns a rating to those devices based on historical behavior. This score can be generated by the service which does not require a customer’s personally identifiable information (PII).
Officials surmised that companies will be able to benefit a lot from the iovation TrustScore to reduce operational expense, accelerate revenue and also enhance user experience of trusted customers. Also as iovation reputation data helps identify good customers among first time website visitors, a lot of time spent on manual reviews is reduced which in turn reduces the cost of handling reviews and delays for good customers.
“Many online retailers review upward of 10 percent of online transactions of which the vast majority are ultimately approved. Enabling our customers to bypass reviews by recognizing good customers can dramatically impact their operations and the efficiency of their fraud team,” Olson added.
According to officials, iovation has studied customer behavior on more than 1.2 billion devices covering over nine billion transactions in order to fight fraud. This intelligence gathered from iovation’s ReputationManager 360 solution enables the iovation TrustScore service to find if an online activity will turn out to be good or not.
Recently, Imperva a provider of data security solutions for high-value business data in the data center, announced that it has extended the fraud prevention capabilities of the Imperva SecureSphere Web Application Firewall (WAF) and ThreatRadar Fraud Prevention to include integration with ReputationManager 360 from iovation. The Imperva SecureSphere WAF can leverage ReputationManager 360 to identify and block high-risk devices that conduct fraud campaigns.