TechValidate Research on iovation

These pages present data that TechValidate has sourced via direct research with verified customers and users of iovation. TechValidate stands behind the authenticity of all published data. Learn more »



508 Customers Surveyed

3,291 Data Points Collected

60 Published TechFacts

25 Published Charts

7 Published Case Studies



Selected Research Highlights


iovation Customer Research

Fraud Challenges Experienced by Retail Industry Customers Prior to Implementing iovation

New Account Fraud
70%
Chargebacks
68%
Payment Fraud
60%
Account takeover (ATO)
52%
Promotion or Bonus Abuse
40%
Fraud from Synthetic or Stolen Identities
36%

iovation Customer Testimonial

We have much better insight into those that are placing orders on our site with regards to the behavior of their device, not only with us but how they have interacted with other merchants. We have been able to build rules to detect fraudulent activity and quickly isolate patterns.

Product Owner, Global 500 Computer Hardware Company

iovation FraudForce Case Study

Online Communities Company

Introduction

This case study of a communities is based on a June 2018 survey of iovation FraudForce customers by TechValidate, a 3rd-party research service. The profiled organization asked to have their name blinded to protect their confidentiality.

“Chargebacks were very common before we started using iovation the decrease in chargeback activity allows us to realize more positive financial returns.”

Challenges

The business challenges that led the profiled organization to evaluate and ultimately select iovation FraudForce:

  • Solved the following challenges after implementing iovation:
    • Chargebacks
    • Fraud from synthetic or stolen identities
    • Payment fraud
  • Evaluated the following fraud prevention tools prior to selecting iovation:
    • No other fraud prevention tools (because iovation was their preferred solution)

Use Case

The key features and functionalities of iovation FraudForce that the surveyed organization uses:

  • Chose iovation over competitors because:
    • They are able to collaborate with peers through user groups, the iovation community, and Fraud Force events
  • Likes working with iovation because:
    • Of the education and training they receive from iovation
    • Of the collaboration with peers in the iovation Community
    • It provides access to critical data on over 5 billion devices
    • It offers products supporting both fraud prevention and customer authentication

Results

The surveyed organization achieved the following results with iovation FraudForce:

  • Utilized iovation for the following:
    • Placed evidence on fraudulent devices allowing other customers to catch fraud before it starts
    • Uncovered unknown fraud due to FraudForce
    • Easily identified patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
    • Identified and stopped fraud rings
  • Has seen the following improvements since implementation:
    • Reduced fraud: 41-50%
    • Reduced manual fraud review: 41-50%
    • Increased fraud catch: 61% or more
    • Reduced the number of false declines for good customers: 51-60%

iovation Customer Research

Fraud types Financial Services customers fight against everyday using iovation

What types of fraud are you fighting against with iovation?

Stolen identity fraud
83%
Account takeover fraud
72%
Application/new account fraud
72%
Synthetic identity fraud
56%
Payment fraud
50%
Credit/loan application fraud
39%
Chargebacks fraud
22%
Call center fraud
17%

iovation FraudForce Case Study

Small Business Gaming Company

Introduction

This case study of a small business gaming company is based on a July 2018 survey of iovation FraudForce customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“Since using iovation, we are able to set a lower threshold for payment acceptance and have confidence that fraud transactions are still being caught.”

Challenges

The business challenges that led the profiled company to evaluate and ultimately select iovation FraudForce:

  • Evaluated the following fraud prevention tools prior to selecting iovation:
    • No other fraud prevention tools (because iovation was their preferred solution)
  • Solved the following challenges after implementing iovation:
    • Chargebacks
    • New account fraud
    • Payment fraud

Use Case

The key features and functionalities of iovation FraudForce that the surveyed company uses:

  • Likes working with iovation because:
    • Of the support they receive from their Customer Success Manager (CSM)
    • They can stop fraud using device reputation (evidence) placed by others in my company
    • They can stop fraud using device reputation (evidence) placed by other companies
    • iovation has a flexible and configurable business rules editor
    • iovation has a guaranteed uptime of 99.9% “always on enterprise level infrastructure"
    • It provides a significant reduction in time spent manually reviewing fraudulent transactions

Results

The surveyed company achieved the following results with iovation FraudForce:

  • Utilized iovation for the following:
    • Easily identified patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
    • Identified and stopped fraud rings
  • Saw ROI 3 months after implementing iovation.
  • Has seen the following improvements since implementation:
    • Reduced fraud: 61% or more
    • Reduced manual fraud review: 61% or more
    • Increased fraud catch: 41-50%
    • Reduced the number of false declines for good customers: 41-50%

iovation Customer Satisfaction Rating

A Product Owner at a medium enterprise gambling company would be likely to recommend iovation for this reason:

The experiences I have had with iovation have only been positive. For us, simplicity rules and I think that iovation’s integration, Intelligence Center, Business Rules, etc. have been just that.



More to Explore



About iovation

iovation, a TransUnion company, provides a real-time service that exposes online fraudsters, as well as multifactor authentication services to detect fraud before it occurs. Our SaaS solution exposes the reputation of devices (computer, tablet or mobile phone) connecting to online businesses. We manage the reputations of billions of devices that have touched our customers from all over the world.

iovation Website   iovation Website