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 »



546 Customers Surveyed

3,326 Data Points Collected

72 Published TechFacts

29 Published Charts

9 Published Case Studies



Selected Research Highlights


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 FraudForce Customer Statistic

After implementing iovation, 78% of financial services customers who experienced New Account Fraud saw an ROI within 3 months.

78%

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 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 Review

4.5/5 Stars

What's been the best benefit of using iovation fraud and authentication solutions?

Mitigating fraud at point of origination and reducing downstream expenses and losses.

iovation Customer Research

Top 5 iovation features that financial services customers say give them “confidence their business is being protected against fraud”.

What features of iovation give you the confidence that you’re protecting your business against fraud?

Access to a collection of over 6 billion known devices
83%
Business rules editor that is flexible and scalable
83%
Business rules that are specific to my business and industry
78%
Support from my customer success team whom I view as trusted advisors
50%
Smart tools, machine learning and crowdsourcing intelligence which helps our organization evolve with new fraud trends
33%


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