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 »



419 Customers Surveyed

2,894 Data Points Collected

60 Published TechFacts

25 Published Charts

7 Published Case Studies



Selected Research Highlights


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%

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 Research

Types of Fraud Challenges Banking Industry Customers Experienced Before Implementing iovation

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

New Account Fraud
67%
Account takeover (ATO)
57%
Fraud from Synthetic or Stolen Identities
57%
Credit/Loan Application Fraud
38%
Payment Fraud
29%
Call Center Fraud
10%
Chargebacks
10%

iovation FraudForce Case Study

Confused.com

Introduction

This case study of Confused.com is based on a July 2018 survey of iovation FraudForce customers by TechValidate, a 3rd-party research service.

Challenges

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

  • Ghost brokering fraud
  • Evaluated the following fraud prevention tools prior to selecting iovation:
    • 41st Parameter
    • Chose iovation over competitors because:
      • It stops fraud from devices that others have confirmed as fraudulent
      • They can help others stop fraud by reporting when they have found a device fraudulent
      • They are able to collaborate with peers through user groups, the iovation community, and Fraud Force events
  • Use Case

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

    • Utilized iovation for the following:
      • Placed evidence on fraudulent devices allowing other customers to catch fraud before it starts
      • Easily identified patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
      • Identified and stopped fraud rings
    • Likes working with iovation because:
      • Of the support they receive from their Customer Success Manager (CSM)
      • Of the collaboration with peers in the iovation Community
      • They can stop fraud using device reputation (evidence) placed by others in my company
      • It has a flexible and configurable business rules editor

    Results

    The surveyed company achieved the following results with iovation FraudForce:

    • Saw ROI 1 month after implementing Iovation.
    • Has seen the following improvements since implementation:
      • reduced fraud: 61% or more
      • increased fraud catch: 61% or more
    • Solved the following challenges after implementing iovation:
      • Ghost brokering fraud

    iovation Customer Statistic

    9 out of 10 Retail customers saw ROI within 6 months or sooner after implementing iovation.

    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