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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 »



275 Customers Surveyed

1,665 Data Points Collected

48 Published TechFacts

17 Published Charts

6 Published Case Studies



Selected Research Highlights


iovation Case Study

Medium Enterprise Ticketing and eCommerce Company

Introduction

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

“iovation gives us cross-database visibility, which is typically a challenge for us to achieve due to the way we operate.”

Challenges

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

  • Solved the following challenges after implementing iovation:
    • Chargebacks
    • Promotion or bonus abuse
    • New account fraud
    • Payment fraud
  • Evaluated the following fraud prevention tools prior to selecting iovation:
    • No other fraud prevention tools were evaluated because iovation was their preferred solution

Use Case

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

  • Chose iovation over competitors because:
    • Cross subscriber device recognition and account linkage
    • Provides a significant reduction in time spent manually reviewing fraudulent transactions
    • Easily identifies patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
    • Identified and stopped fraud rings

Results

The surveyed company achieved the following results with iovation:

  • Has seen the following improvements since implementation:
    • reduced the number of false declines for good customers: 41-50%
    • reduced manual fraud review: 31-40%
    • increased fraud catch: 21-30%

iovation Customer Testimonial

We are able to identify fraud more effectively that slipped through our digital transactions. iovation enables us to use new intelligence that has helped us understand different types of fraud, proving great benefits not only to our company but to the whole telecommunication sector.

Luis Palacios, Fraud Analyst, BT Limited

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 Challenges Experienced by Financial Services Industry Customers Before Implementing iovation

What types of fraud challenges were you experiencing before implementing iovation?

Credit/Loan Application Fraud
56%
New Account Fraud
56%
Fraud from Synthetic or Stolen Identities
48%
Account takeover (ATO)
31%
Payment Fraud
31%
Chargebacks
25%
Promotion or Bonus Abuse
8%
Call Center Fraud
4%

iovation FraudForce Customer Statistic

95% of Gambling customers saw ROI 1 year or sooner after implementing FraudForce.

95%

iovation Customer Research

97% of Financial Services customers see ROI within one year

How quickly did you see ROI after implementing iovation?

Within 1 month
36%
Within 3 months
36%
Within 6 months
12%
Within 1 year
12%
More than a year
3%


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