- Posted June 17, 2014 by
Identify Good Customers with Device Reputation by Iovation Stop Online Fraud Real Time
Fighting fraud is much more than just catching the bad guys. Today’s online businesses must balance reducing fraud with preserving the customer’s online experience and keeping operational costs in line. That’s why iovation TrustScore is a fraud manager’s new best friend. TrustScore spotlights good customers; even when they are new to your business.
iovation’s unique ability to provide a TrustScore is built on a rich data of the 13 billion transactions analyzed in the Device Reputation Authority, including nearly 2 billion device histories including past behavior and any association to fraud or abuse. Every day iovation evaluates up to 10M online transactions for risk, stopping over 200k fraud attempts every day. Applying powerful predictive analytics to this data allows iovation to deliver a TrustScore on customers of your business, even if you’ve never before interacted with them.
REDUCE REVIEW QUEUES
Knowing who is good can be as valuable as identifying the fraudsters. Recognizing good customers in real time, even when they are new to your site, reduces review queues and has an immediate impact on the operational efficiency of your fraud teams. Implementing TrustScore will minimize the good transactions that get caught in a review filter, freeing up your team’s time and significantly reducing review queues.
Credit providers and online service providers can safely offer higher credit lines, increased deposit or purchase limits with this unique data. Qualify accounts that deserve to move to preferred status, taking less risk at first interaction.
IMPROVE CUSTOMER EXPERIENCE
When good, new, customers are instantly recognized, your business can skip time-consuming, and potentially bothersome and costly security checks such as KBA and Captcha. Improving customer experience builds loyalty and engagement. Finally, having this level of insight about your new customers is an exceptional opportunity to showcase special offers or promote customers to a higher level of service without typical evaluation periods.