New fraud detection and authentication capabilities added to iovation product line
iovation has released a series of updates to its online fraud prevention and authentication products to increase security for businesses while reducing friction for end-users.
Email and phone number verification, botnet detection, device de-registration, and a range of features for communicating with consumers and providing additional context and insight into consumer replies for authentication and authorization requests have been added to iovation’s portfolio, according to the announcement.
“Just as TSA Pre✓ has made flying dramatically easier and safer, the same could be said for online transactions with iovation’s updated products,” says iovation Chief Product Office Bala Krishnamurthy. “With iovation working in the background, consumers aren’t bothered by fraud checks and device confirmations that enhance authentication, they’re completely transparent. They simply get to enjoy the online experience while businesses ensure they are protected against fraud and other cyberattacks.”
In addition to new forensic examination capabilities for email addresses and phone numbers and the activities associated with them in its FraudForce product, iovation’s ClearKey now makes it easier to remove a device that has previously been used as a transparent authentication factor. The LaunchKey multifactor authentication solution now enables businesses to find out if an authentication request failed or was denied by the user, and why, and gives companies a choice for what authentication factors consumers can select, among several new customization options, iovation says.
“Many people think of fraud prevention and cybersecurity as putting up a wall,” adds Aite Group Senior Analyst Shirley Inscoe. “But it should be looked at from the consumer perspective. If you are simply stopping the bad guys without any consideration to customer friction, your business probably won’t thrive. Instead, use appropriate tools to detect and manage fraudsters while providing great service to all your good customers.”
TransUnion acquired iovation last year to create a network of online and offline identities.