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

97% of Financial Services customers see ROI within one year

How quickly did you see ROI after implementing iovation?

Within 1 month
36%
Within 3 months
36%
Within 6 months
12%
Within 1 year
12%
More than a year
3%

iovation Customer Research

Top 4 iovation Benefits Reported by Gambling Industry Customers

Why do you like working with iovation?

Stopping fraud using device reputation (evidence) placed by others in my company
69%
Stopping fraud using device reputation (evidence) placed by other companies
62%
Flexible and configurable business rules editor
53%
The support I receive from my Customer Success Manager (CSM)
51%

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 Case Study

Small Business Insurance Company

Introduction

This case study of a small business insurance company is based on a June 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.

“We have been able to identify organized fraud activity in a way we were unable to before. We can not only stop unwanted devices from taking out quotes, but we can also ensure those known fraudsters are unable to access their online documents.”

Challenges

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

  • Solved the following challenges after implementing iovation:
    • Ghost brokering fraud
    • Payment fraud
  • Evaluated the following fraud prevention tools prior to selecting iovation:
    • ThreatMetrix
    • 41st Parameter

Use Case

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

  • Chose iovation over competitors because:
    • It has cross subscriber device recognition and account linkage
    • Collaboration with peers in the iovation Community
    • It has flexible and configurable business rules
    • It has dedicated Customer Support Managers
    • It provides a significant reduction in time spent manually reviewing fraudulent transactions
    • It stops fraud from devices that others have confirmed as fraudulent
  • Utilized iovation for the following:
    • Easily identified patterns that indicate fraud through device anomalies, risky location, IP, ISP, and evasion techniques
    • Utilized FraudForce within a larger fraud protection platform
    • Placed evidence on fraudulent devices allowing other customers to catch fraud before it starts
    • Uncovered unknown fraud due to FraudForce
    • Identified and stopped fraud rings

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: 31-40%
    • Reduced manual fraud review: 41-50%
    • Increased fraud catch: 41-50%
    • Reduced account takeover (ATO): 21-30%
    • Reduced the number of false declines for good customers: 21-30%

iovation Customer Statistic

100% of surveyed Fortune 500 financial services agree that iovation helps improve their customers’ experience via reduced account takeover.

iovation FraudForce Customer Statistic

100% of Gaming customers saw ROI 6 months or sooner after implementing iovation.

100%


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