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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 »



308 Customers Surveyed

1,947 Data Points Collected

48 Published TechFacts

18 Published Charts

6 Published Case Studies



Selected Research Highlights


iovation FraudForce Customer Satisfaction Rating

A Fraud Manager at a large enterprise insurance company would be very likely to recommend iovation FraudForce for this reason:

Highly effective AND cost-effective solutions. Very supportive teams with a collaborative approach. Flexible and accommodating. Great to do business with.

iovation FraudForce Customer Research

Customers who evaluated ThreatMetrix but ultimately selected iovation as a fraud prevention solution.

Why do you like working with iovation?

Flexible and configurable business rules editor
65%
Stopping fraud using device reputation (evidence) placed by other companies
59%
The support I receive from my Customer Success Manager (CSM)
59%
Access to critical data on over 5 billion devices
54%
Immediately stop revolving door of fraudsters hitting my business
52%

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 Satisfaction Rating

Lukas Kopriva, a Fraud Manager at 4finance, would be very likely to recommend iovation for this reason:

Simple implementation with a fast ROI. Exceptional anti-fraud tool applicable for several fraud schemes. Strong business support. Native back-end environment and usage.

iovation FraudForce Case Study

goeasy a Large Enterprise Financial Services Company

Introduction

This case study of Goeasy Inc is based on a June 2018 survey of iovation FraudForce customers by TechValidate, a 3rd-party research service.

“We are more productive now that our employees are not wasting time working apps that are fraudulent. More productivity equals more money.”

Challenges

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

  • Solved the following challenges after implementing iovation:
    • New account fraud
    • Fraud from synthetic or stolen identities
  • Evaluated the following fraud prevention tools prior to selecting iovation:
    • An in-house built solution

Use Case

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

  • goeasy chose iovation over competitors because:
    • It has cross subscriber device recognition and account linkage
    • It has guaranteed uptime of 99.9% “always on enterprise level infrastructure"
    • It has dedicated Customer Support Managers
    • Within the Financial Services industry iovation is the leader in fraud prevention
    • It stops fraud from devices that others have confirmed as fraudulent
    • goeasy can help others stop fraud by reporting when they have found a device fraudulent
  • Utilized iovation for the following:
    • 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

Results

The surveyed company achieved the following results with iovation FraudForce:

  • Saw ROI 1 month after implementing FraudForce.
  • Has seen the following improvements since implementation:
    • Reduced fraud: 61% or more
    • Reduced manual fraud review: 61% or more
    • Increased fraud catch: 61% or more
    • Reduced account takeover (ATO): 61% or more
    • Reduced the number of false declines for good customers: 61% or more

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%


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