iovation Launches Sophisticated Machine Learning Fraud Detection Solution

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ioby Angela Guess

A recent press release reports, “iovation, the leading provider of device-based solutions for authentication and fraud prevention, today announced the launch of iovationScore. The unprecedented scale of iovationScore’s global device network along with its highly advanced use of adaptive algorithms make iovationScore the industry’s most robust machine learning fraud detection solution. It provides businesses with the power to predict the trustworthiness or riskiness of an online transaction even if they have never seen the customer or device before.”

The release continues, “iovationScore helps businesses grow revenue by identifying good or trustworthy customers. In addition, it reduces friction for existing trustworthy customers by eliminating time consuming and frustrating step-up challenges. iovationScore also helps reduce fraud prevention costs by minimizing resource-intensive manual reviews and eliminating the need for expensive verification tools for trusted transactions. ‘Battling with fraudsters is like a game of chess. Once you think you have them figured out, they utilize a whole new approach,’ said iovation’s Vice President of Product, Scott Olson. ‘It is essential that you have a machine learning weapon in your arsenal that continually and automatically adapts to changing conditions seen across companies and industries worldwide. Besides stopping fraud, that solution should provide an easy way to differentiate good from bad customers in order to offer the valued ones special incentives’.”

Read more at Marketwired.

Photo credit: iovation

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