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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 Financial Services Company

Introduction

This case study of a medium enterprise financial services company is based on a June 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’s FraudForce gives us the flexibility and ability to secure our online and mobile channels more precisely than normal IP reporting and monitoring.”

Challenges

Fraud challenges experienced by the profiled company to evaluate and ultimately select iovation:

  • Account takeover (ATO)
  • Credit/loan application fraud
  • New account fraud

Use Case

The key features and functionalities of iovation that led surveyed company to implement FraudForce over competitors:

  • Cross subscriber device recognition and account linkage
  • Flexible and configurable business rules
  • Guaranteed uptime of 99.9% “always on enterprise level infrastructure"
  • Subscribers help others stop fraud by reporting when they have found a device fraudulent

Profiled company utilizes iovation for the following:

  • Utilizes FraudForce within a larger fraud protection platform
  • Places evidence on fraudulent devices allowing other customers to catch fraud before it starts
  • Uncovered unknown fraud due to FraudForce
  • Easily identifies patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
  • Identifies and stopped fraud rings

Results

The surveyed company achieved the following results with iovation:

  • Saw ROI within 1 month after implementing iovation.
  • Has seen the following improvements since implementation:
    • reduced fraud: 31-40%
    • reduced manual fraud review: 51-60%
    • increased fraud catch: 31-40%
    • reduced account takeover (ATO): 31-40%
    • reduced the number of false declines for good customers: 21-30%

iovation FraudForce Customer Statistic

7 out of 10 gambling customers said they use iovation to identify and stop fraud rings, when asked how they utilize the service.

iovation Customer Research

Fraud Challenges Experienced by Insurance Industry Customers Prior to Implementing iovation

Ghost Brokering Fraud
80%
Payment Fraud
70%
Fraud from Synthetic or Stolen Identities
40%
Chargebacks
30%
Account takeover (ATO)
10%
Call Center Fraud
10%
New Account Fraud
10%

iovation Customer Research

Why did you choose iovation over competitors?

Cross subscriber device recognition and account linkage
53%
Flexible and configurable business rules
53%
To stop fraud from devices that others have confirmed as fraudulent
52%
Within my industry iovation is the leader in fraud prevention
31%

iovation Customer Testimonial

iovation fraud prevention solution reduces fraud while improving customer experience

Since implementing iovation we’ve seen fewer chargebacks, account takeovers, and new account fraud. We’ve also experienced a better sentiment within our product communities due to reduced disruption from fraudulent users.

Vice President, Gaming

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%


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