Tuesday April 2, 2013 : CHECKING OUT THE ONLINE PUNTER
New security software identifies website visitors that are most likely to be trustworthy
Online transaction security specialist Iovation has added a new dimension to its device reputation and security coverage for online operators by launching TrustScore, a service that identifies website visitors that are most likely to be trustworthy – even if they’ve never visited the site before.
The new product analyses a consumer’s online activity from his or her collective devices and assigns a rating to those devices based on historical behaviour. This score is generated without collecting a customer’s personally identifiable information, helping online companies to reduce operational expense, accelerate revenue and improve the experience for trusted customers.
Iovation claims that companies save time by reducing the number of manual reviews, minimising the cost of handling reviews and eliminate delays for good customers. The unique data also allows businesses to immediately identify which new customers qualify for special offers or status, efforts that otherwise could require months of player experience.
“Knowing who’s good can be as valuable as knowing who’s risky for online businesses,” says Iovation vice president of product Scott Olson.
“We are leveraging the eight years of data built on helping customers fight online fraud, and we are applying sophisticated analytics to use that data to determine who’s good. Many online retailers review upward of 10 percent of online transactions of which the vast majority are ultimately approved. Enabling our customers to bypass reviews by recognizing good customers can dramatically impact their operations and the efficiency of their fraud team.”
To date, Iovation has examined the behaviour of more than 1.2 billion devices involved in more than nine billion transactions in order to fight fraud. By leveraging this intelligence from Iovation’s ReputationManager 360 solution, TrustScore determines whether or not an online activity is likely to be good.
Iovation claims that substantial cost savings can be achieved using the new product, which is discussed in more detail at a webinar here: