PORTLAND, OR--(Marketwired - Jun 5, 2013) - iovation, protecting business from Internet fraud and identifying good online customers leveraging the world's most comprehensive device reputation database, today announced it has been positioned by Gartner, Inc. as a "Visionary" in the Magic Quadrant for Web Fraud Detection1 report. Gartner is the world's leading information technology research and advisory company, and its Magic Quadrant is widely recognized as one of the most influential market analysis tools for enterprises seeking to evaluate information technology vendors.
"The 2012 demand for WFD products and services was driven by increasing cyberattacks across multiple sectors, including financial services, online retail, travel, ticketing, entertainment, social networking and gaming," wrote Gartner analysts Avivah Litan and Peter Firstbrook in the report. Litan and Firstbrook also said in the report that, "The Visionaries' products are easy to implement and use, and have achieved very good results in reducing online fraud for their clients using SaaS-based models."
Gartner evaluated iovation based on its vision and ability to execute with its fraud fighting solutions. ReputationManager 360 from iovation identifies possibly fraudulent transactions through analysis of the online behavior of more than 1.3 billion devices from around the world. The company also introduced a series of new products over the last year, including:
- TrustScore, identifies website visitors that are most likely to be trustworthy, even if they've never visited a site before.
- Phone Verification, iovation's two-factor phone authentication solution provides an additional fraud-fighting layer.
- Fraud Force Online Community, a virtual community that thousands of fraud professionals can leverage to identify the latest attack vectors used by online fraudsters, collaborating on techniques to thwart those attacks.
"We believe being positively recognized by Gartner in the Magic Quadrant for Web fraud detection for the fifth straight year is a testament to how our tactics have effectively evolved to combat fraud," said Greg Pierson, CEO and co-founder at iovation. "While this is a very positive development, we will not rest on our laurels. Expect significant advancements in our core and newly-developed services in the next year to help further our mission of fighting fraud while enabling companies to easily identify good customers."
Gartner's Magic Quadrant evaluation is based on vendors' completeness of vision, including market understanding, product strategy and innovation, among other criteria. The Magic Quadrant also assesses vendors' ability to execute, which includes operations and overall viability.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, insurance, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than 1.3 billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts, to share intelligence about cybercrime and prevention techniques. Every day, iovation stops more than 150,000 fraud attempts. For more information, visit www.iovation.com.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
1 Gartner, Inc., Magic Quadrant for Web Fraud Detection, Avivah Litan and Peter Firstbrook, May 30, 2013.