PORTLAND, OR and ORLANDO, FL--(Marketwired - Jun 1, 2016) - iovation, the provider of device intelligence for authentication and fraud prevention, today announced it will speak on stage about "Using Device Insight to Balance Fraud Prevention and Customer Experience" at the 2016 ACI User Group Exchange Conference. iovation's Vice President of Global Sales & Partnerships, Max Anhoury, and iovation's Strategic Partnerships Manager, David Reynoldson, will lead the session on Tuesday, June 7, 2016 at 1pm EDT. Large global businesses and financial institutions including the Federal Reserve Bank of New York, Google, KeyBank, Visa and Wells Fargo will speak in separate sessions at the conference.
"Our research found that card-not-present fraud will cost U.S. retailers and financial institutions $7.2 billion by the end of 2020," said Anhoury. "To protect themselves and not impact the bottom line, retailers and financial institutions must implement authentication measures that strengthen security without impeding customers."
Traditional fraud prevention methods often rely on sending a text with an authentication code or employing a series of challenge questions -- resulting in customer frustration, cart abandonment, lost revenue and increased cost. In the session, Anhoury and Reynoldson will address how device intelligence reduces risk for businesses and streamlines the online experience for valued customers. They will also share how iovation's Customer Authentication service allows instant passwordless access to low-risk sections of consumer accounts like account balances and activity histories.
"Today's online businesses are recognizing that strong fraud controls can significantly impact the sales process. Successfully combatting card-not-present fraud frequently requires the placement of reliable third-party data inputs to realize an efficient sales conversion. The balance of needs between payments security and sales can be met with the combined solutions that ACI and iovation offer," said Seth Ruden, senior fraud consultant of payment risk solutions at ACI Worldwide. "In fact, a recent survey we conducted found that while 75 percent of the world's biggest retailers cite payments security as the most important feature for digital channels, integrated loyalty/awards came in a clear second."
The conference is hosted by ACI Worldwide, a global provider of real-time electronic payment and banking solutions, and a strategic partner of iovation. Dozens of large financial institutions and payment processors rely on a combined solution from iovation and ACI Worldwide to enhance their anti-fraud measures and ensure a better experience for their customers.
The 2016 ACI User Group Exchange Conference runs from June 6-8 at the Renaissance Hotel at SeaWorld in Orlando, Fla. iovation will also feature its fraud prevention technology on June 7 from 10:50am to 3pm EDT at the conference's Demo Lounge. For more information, go to iovation.com/news/events/aci-exchange-global-payments-conference.
About iovation
iovation protects online businesses and their end users against fraud and abuse, and identifies trustworthy customers through a combination of advanced device identification, shared device reputation, device-based authentication and real-time risk evaluation. More than 3,500 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of billions of Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company's device reputation database is the world's largest, used to protect 15 million transactions and stop an average of 300,000 fraudulent activities every day. The world's foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation's Fraud Force Community, an exclusive virtual crime-fighting network. For more information, visit iovation.com.
Contact Information:
CONTACTS:
iovation Inc.
Connie Gougler
503-943-6748