TechValidate Research on iovation

25 Charts


iovation Customer Research

EU Customers

How prepared are you for PSD2?

Very prepared
18%
Prepared
54%
Not prepared
13%
I'm not aware of PSD2
15%

iovation Customer Research

Global Customers

How prepared are you for PSD2?

I'm not aware of PSD2
39%
Prepared
37%
Not prepared
16%
Very prepared
9%

iovation FraudForce Customer Research

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

New Account Fraud
59%
Payment Fraud
44%
Chargebacks
43%
Fraud from Synthetic or Stolen Identities
41%
Account takeover (ATO)
37%
Promotion or Bonus Abuse
27%
Credit/Loan Application Fraud
24%
Call Center Fraud
8%
Ghost Brokering Fraud
7%
Other
8%

iovation Customer Research

Which of the following iovation features do you believe are of high value to your overall fraud prevention strategy?

Collected shared device intelligence (consortium)
78%
Proxy detection
53%
Evasion detection, e.g. changing device details
44%
Collaboration with peers inside and outside of my industry
37%
Machine Learning Solutions
34%
Email verification
29%
Botnet detection
27%
Phone verification
25%
Other
5%

iovation Customer Research

Customer Stop Fraud With iovation

What are the most important reasons why you use iovation?

Stopping fraud rings
65%
Stopping identity fraud
62%
Protecting against multiple types of fraud specific to my industry
58%
Tailoring rules to match my company’s risk tolerance
50%
Leveraging digital reputation insights and shared intelligence in the consortium
38%
Stopping account takeover
33%
Preventing both online and offline fraud (example: call center fraud)
20%

iovation Customer Research

iovation Prepares Customers for Upcoming Regulations

iovation will help me fulfill PSD2 requirements in the following ways:

Provide educational materials to help my organization understand the upcoming changes with PSD2
51%
Reduce my fraud rate to maximize Transaction Risk Exemptions and minimize transactions subject to Strong Customer Authentication (SCA) requirements
50%
Use transparent device-based authentication with ClearKey to satisfy second-factor authentication requirements for SCA
19%
Use strong, app-based multi-factor authentication with LaunchKey to meet SCA requirements
10%

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 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 Customer Research

Fraud types Financial Services customers fight against everyday using iovation

What types of fraud are you fighting against with iovation?

Stolen identity fraud
83%
Account takeover fraud
72%
Application/new account fraud
72%
Synthetic identity fraud
56%
Payment fraud
50%
Credit/loan application fraud
39%
Chargebacks fraud
22%
Call center fraud
17%

iovation FraudForce Customer Research

Top iovation Benefits Reported by Online Communities Industry Customers

Why do you like working with iovation?

Education and training I receive from iovation
57%
Offers products supporting both fraud prevention and customer authentication
57%
The support I receive from my Customer Success Manager (CSM)
57%

iovation FraudForce Customer Research

Top 4 iovation Purchasing Drivers for Communities Industry Customers

Why did you choose iovation over competitors?

Cross subscriber device recognition and account linkage
43%
Flexible and configurable business rules
43%
Significant reduction in time spent manually reviewing fraudulent transactions
43%
To be able to collaborate with peers through user groups, the iovation community, and Fraud Force events
43%

iovation FraudForce Customer Research

Customers who evaluated ThreatMetrix but ultimately selected iovation as a fraud prevention solution.

Why do you like working with iovation?

Flexible and configurable business rules editor
65%
Stopping fraud using device reputation (evidence) placed by other companies
59%
The support I receive from my Customer Success Manager (CSM)
59%
Access to critical data on over 5 billion devices
54%
Immediately stop revolving door of fraudsters hitting my business
52%

iovation FraudForce Customer Research

Financial Services Customers who Evaluated ThreatMetrix Prior to Selecting iovation

Why do you like working with iovation?

Flexible and configurable business rules editor
73%
The support I receive from my Customer Success Manager (CSM)
65%
Access to critical data on over 5 billion devices
62%
Stopping fraud using device reputation (evidence) placed by other companies
62%
Immediately stop revolving door of fraudsters hitting my business
46%

iovation Customer Research

Top 3 iovation Benefits Reported by Financial Services Industry Customers

Why do you like working with iovation?

Stopping fraud using device reputation (evidence) placed by other companies
55%
Flexible and configurable business rules editor
54%
Access to critical data on over 5 billion devices
50%

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 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 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

Fraud Challenges Experienced by Retail Industry Customers Prior to Implementing iovation

New Account Fraud
70%
Chargebacks
68%
Payment Fraud
60%
Account takeover (ATO)
52%
Promotion or Bonus Abuse
40%
Fraud from Synthetic or Stolen Identities
36%

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

Fraud Challenges Experienced by Gambling Industry Customers Before Implementing iovation

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

Chargebacks
64%
New Account Fraud
64%
Payment Fraud
57%
Promotion or Bonus Abuse
54%
Account takeover (ATO)
31%
Fraud from Synthetic or Stolen Identities
28%

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 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 Customer Research

Top 3 benefits of using iovation in a larger fraud platform:

Stopping fraud using device reputation (evidence) placed by others in my company
69%
Flexible and configurable business rules editor
63%
The support I receive from my Customer Success Manager (CSM)
61%

iovation Customer Research

Top 5 iovation Benefits Reported by Insurance Industry Customers

Why do you like working with iovation?

Stopping fraud using device reputation (evidence) placed by other companies
78%
Collaboration with peers in the iovation Community
67%
Stopping fraud using device reputation (evidence) placed by others in my company
67%
Flexible and configurable business rules editor
56%
The support I receive from my Customer Success Manager (CSM)
56%

iovation Customer Research

Top Purchasing Drivers Against ThreatMetrix

Why did you choose iovation over competitors?

Flexible and configurable business rules
69%
To stop fraud from devices that others have confirmed as fraudulent
57%
Cross subscriber device recognition and account linkage
56%
Dedicated Customer Support Manager
39%



More Research on iovation