TechValidate Research on TruValidate

These pages present data that TechValidate has sourced via direct research with verified customers and users of TruValidate. TechValidate stands behind the authenticity of all published data. Learn more »



547 Customers Surveyed

3,326 Data Points Collected

72 Published TechFacts

29 Published Charts

9 Published Case Studies



Selected Research Highlights


iovation Customer Satisfaction Rating

Stephanie Driscoll, a Fraud Manager at The Automobile Association Limited, would be very likely to recommend iovation for this reason:

We have been using iovation for a few years now and am confident that it has been a huge asset in the AA’s fight against fraud. Ensuring that the AA remains at the top of the leaderboard for Fraud detection and prevention. Ensuring a cleaner book of business for our panel of insurers and customers alike.

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 FraudForce Customer Research

86% of Retail Subscribers saw ROI within 6 Months with iovation

1 month
14%
3 months
36%
6 months
36%
1 year
14%
Over a year
0%

iovation Case Study

Medium enterprise gambling company saw ROI within 3 months

Introduction

This case study of a Medium Enterprise company is based on a March 2020 survey of iovation customers by TechValidate, a 3rd-party research service.

Challenges

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

  • Faced the following fraud challenges before implementing iovation’s fraud and authentication solutions:
    • New account fraud
    • Synthetic identity fraud
    • Stolen identity fraud
    • Bonus abuse
    • Credit card fraud
    • Managing self-excluded players

Use Case

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

  • iovation’s fraud and authentication solutions are helping improve the following:
    • Confidently offer incentives without the concern of bonus abuse
    • Provide customers with an extra level of assurance that their data is protected
    • Expedite onboarding to grow new accounts

Results

The surveyed company achieved the following results with iovation:

  • Saw an ROI in 1-3 months.
  • Saw the following levels of improvement in the following areas:
    • in fraud loss reduction: 20%-39%
    • in their reduction of manual fraud review: 40%-59%
    • in their fraud catch: 20%-39%
    • in their reduction of account takeover: 0%-19%
    • in their reduction of false declines for good customers: 40%-59%
  • Have accomplished the following by using iovation’s fraud and authentication solutions:
    • Utilized device intelligence within an orchestration hub
    • Easily identified patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
    • Immediately recognized good returning consumers, even when data elements change
    • Identified
    • Uncovered linkages across channels, accounts and devices
    • Used deep data insights to create actionable intelligence
    • Gained insight into device and account connections to uncover money laundering rings
    • Identified and stop money laundering fraud rings
    • Effectively managed self-excluded players

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 Customer Satisfaction Rating

A Network Administrator at Communities would be very likely to recommend iovation for this reason:

We started using iovation many years ago and since implementation, our chargeback and disputed charges have decreased significantly.



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About TruValidate

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.

TruValidate Website   iovation Website