May 19-22 Omni Orlando Resort at ChampionsGate
CNP Award Winner
Best Overall Fraud/Security Solution – Judges Choice
A panel of five judges in the 2014 CNP Awards have chosen ThreatMetrix’s TrustDefender Cybercrime Protection Platform as the Best Overall Fraud/Security Solution. First introduced in 2012, the solution boasts comprehensive context-based authentication. In addition to taking the usual measures—including malware detection and device identification—to make e-commerce transactions secure, ThreatMetrix detects fraud by analyzing online identities and their associated devices, using anomaly and velocity rules to make real-time decisions.
According to the company, one of the most significant aspects of the platform—and one that makes it particularly enticing for businesses that have traditionally deployed point security and fraud tools as separate products from different vendors—is its ability to offer this intelligence in a unified way. By using this fully integrated cybercrime protection platform, the company says, online merchants will increase their business by authorizing more good customers and screening out fraudsters.
Of vital importance to the platform’s success is the ThreatMetrix Global Trust Intelligence Network (the first and only repository of its kind, according to the company), which boasts one of the largest and most comprehensive fully anonymized global databases of identity and fraud information. Using real-time analytics, the Network profiles tens of millions of users each day—evaluating logins, payments, new account registrations and remote access attempts for validity.
Having only been available since 2012, several breakthrough technological advances were made to the product in 2013—the Persona ID (which help to reduce false positives by providing real-time visitor screening with historic context – stored in the Network – in mind), Trust Tags (which allow merchants to anonymously interrogate and validate customer credentials and indicate levels of trustworthiness), and the Global Policy Engine (which uses Network data to understand in real-time the current universes of computer, smartphone and tablet users).
In 2013, the company more than doubled the number of customer transactions it processed on the Network, reaching 4.4 billion; the company’s recurring customer revenue was more than 120 percent 2012’s total revenues.