Source: iovation, 31st May 2012
iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that it has been named a visionary in the Magic Quadrant report for Web fraud detection* by Gartner, Inc.—the world’s leading information technology research and advisory company. Gartner’s Magic Quadrant is widely recognized as one of the most influential market analysis tools for enterprises seeking to evaluate information technology vendors.
“The Visionaries’ products are very easy to implement and use, and have achieved very good results in reducing online fraud using SaaS-based models. Most of the vendors in this category serve multiple use cases across sectors,” wrote Gartner analyst Avivah Litan in the report. She continued, “They each have a very good understanding of their markets and the problems they are trying to solve, along with solid strategies that have them set for healthy growth.”
iovation’s ReputationManager 360 solution was evaluated in the report. ReputationManager 360 assesses the risk of transactions among 950 million devices such as computers, tablets and mobile phones across a broad range of industries. The solution combats cyber fraud through actionable intelligence, sharing the latest cyber fraud methods, and high risk devices across hundreds of customers and thousands of cyber security experts. ReputationManager 360 has protected more than 7.5 billion online transactions to date.
“We are honored to be positively recognized as a Visionary by Gartner in the Magic Quadrant for Web fraud detection for the second year in a row,” said Greg Pierson, CEO and co-founder at iovation. “We believe Gartner’s findings in this report further confirm iovation’s unique capability to proactively identify devices that are associated with abuse before bad actors can strike.”
Gartner estimates that “Since year-end 2010, the market has grown 25 percent to about $304 million in annual revenue.” Its 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.
*Gartner, Inc., Magic Quadrant for Web Fraud Detection, Avivah Litan, May 29, 2012.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of 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 relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation’s knowledge base of 950 million devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.
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