San Jose, CA (PRWEB) March 03, 2015
ThreatMetrix®, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announced that its ThreatMetrix® Global Trust Intelligence Network (The Network) now analyzes and protects more than one billion mobile and Web-based transactions per month. Transaction volume is expected to continue growing and by the end of 2015, ThreatMetrix expects to analyze more than 15 billion total transactions. This volume is greater than the annual number of e-commerce transactions from the world’s largest e-commerce markets or the world’s biggest payment networks.1 The Network enables businesses to seamlessly differentiate between trusted consumers and potential cybercriminals. This prevents hundreds of millions of dollars in fraud losses globally, without impacting the customer experience for legitimate users.
“One of the biggest drivers of our network’s growth is the rapid adoption of ThreatMetrix mobile solutions,” said Andreas Baumhof, chief technology officer, ThreatMetrix. “We continue to see strong demand from customers looking to extend protection to their mobile applications. Users connect to businesses both via mobile apps and browsers, so it’s critical to protect both channels through a single solution that delivers seamless authentication across devices and provides high levels of fraud protection.
“Of the one billion transactions analyzed monthly by ThreatMetrix, more than 250 million were from mobile devices from more than 200 countries,” said Baumhof. “This is a testament to the reach of The Network and we expect this growth to continue as many of the world’s most valued companies and brands protect their applications using the ThreatMetrix solution. We are seeing more than 20 million new mobile deployments each month representing more than 25 percent of the total new devices being added to our network, making us one of the largest mobile security providers. It is, however, critical for us to provide a true cross-channel solution that delivers an integrated risk assessment across all connected devices – a capability that has proven to be invaluable for our customers.”
Growth of ThreatMetrix’s mobile solution further enhances the value of The Network. By creating an anonymized digital identity of consumers based on device, persona and behavior from every interaction (account origination, login and access, and purchase) and comparing it in real time to previous activity, ThreatMetrix customers can accurately identify their customers from cybercriminals – regardless of channel.
“Cybercrime is not a fight that can be won individually and many businesses are realizing the benefits of using an anonymized network to assess consumers’ digital identities in order to differentiate between trusted consumers and cybercriminals without adding friction,” said Alisdair Faulkner, chief products officer ThreatMetrix. “ThreatMetrix’s single, integrated solution is built on a common platform leveraging the shared intelligence of its network and offers the benefits of predictive analytics to protect businesses and reduce customer friction while delivering solutions specific to the device and channel. The ThreatMetrix mobile solution extends the network’s value by adding a deep understanding of mobile devices.”
Use of mobile devices to access banking and commerce applications is growing globally. Consumers from emerging economies show higher percentages of mobile transactions than developed economies. However, devices from these countries are more susceptible to potential attacks driven by the proliferation of jailbroken or rooted devices.
“Utilizing ThreatMetrix’s extensive threat intelligence library to detect malware-altered applications or jailbroken or rooted (also known as compromised) devices provides businesses an accurate predictor of the risk level associated with any mobile device,” said Faulkner.
The ThreatMetrix mobile solution can benefit businesses by:
- Understanding users and associated devices – ThreatMetrix enables businesses to understand users and devices by leveraging threat intelligence from The Network, including whether a device has previously accessed the account it’s logging into, what type of behavior was associated with a device previously, and more.
- Effective fraud intelligence without in-house expertise – ThreatMetrix detects mobile-based malware and identifies devices that have been jailbroken or rooted and provides a vast library of digital identities, negating the need for in-house experts.
- Ensuring application integrity – Cybercriminals can easily integrate malware and scrape credentials through keylogging to access a business app or website with false credentials, exposing businesses to brand and reputation risk. ThreatMetrix can detect if a protected application is in a pure state and was not tampered with prior to allowing communication with a business’s infrastructure.
Faulkner will present on the ThreatMetrix mobile solution at Mobile World Congress, the world’s leading mobile event, March 2-5 in Barcelona. The conference features more than 250 speakers, including leaders of mobile operators, infrastructure providers, device makers and Internet companies.
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ThreatMetrix builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions leveraging a global shared digital identity network and real time customer driven analytics platform. These solutions help customers differentiate between trusted users and potential fraud resulting in reduced friction, incremental revenue and lower fraud and operational costs.
ThreatMetrix secures customers against account takeover, payment fraud, fraudulent account registrations resulting from malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over one billion monthly transactions and protects more than 250 million active user accounts across 3,000 customers and 15,000 websites and mobile applications. ThreatMetrix is deployed by industry leaders across financial services, e-commerce, payments, social networks, government and insurance.
For more information, visit http://www.threatmetrix.com or call 1-408-200-5755.
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1 Internal ThreatMetrix calculation based on projected 2015 ThreatMetrix transactions, annual projected e-commerce volume for U.S., China and global payment networks.