Austin, TX (PRWEB) June 02, 2011
Ethoca, the leader in collaboration-based anti-fraud technologies for e-commerce, today announced the appointment of Julie Fergerson as Vice President of Emerging Technologies. Fergerson, a former VP of Emerging Technologies at Debix and ClearCommerce where she was also co-founder, has nearly 20 years of experience in the online payments and fraud management industry, holds and has patents-pending methods for secure transaction order management processing and preventing fraudulent electronic transactions, and is acclaimed as one of the true pioneers and thought leaders in the industry.
In Ms. Fergerson’s new role with Ethoca, she will apply her deep and broad understanding of how online payments fraud happens to work closely with customers to develop use cases and new product requirements for Ethoca’s advanced collaborative network which enables merchants and other industry stakeholders to work together as effectively and efficiently as the fraudsters already do. A key focus will be driving adoption of Ethoca’s collaborative platform through identification and commercialization of the many ways it enables value creation for customers.
“When I left the e-commerce industry, the one thing that I felt was left unfinished was formalizing a way for merchants to collaborate with each other and with card issuers to get organized like criminals have been doing for years,” said Ms. Fergerson. “If I hadn’t found and joined Ethoca, this is an idea I would have developed myself.”
“Ethoca has done a fantastic job of addressing the key barriers to effective collaboration through their highly secure, real-time platform that protects privacy, ensures data integrity and has achieved critical-mass participation levels. The key challenge now is moving it forward to establish broad industry stakeholder participation, making it a truly global and universal anti-fraud communication hub and repository. I’m very excited to have the opportunity to play a critical role in making that happen,” she continued, “as collaboration is the only fraud prevention method that does not degrade and become less effective over time.”
“We are thrilled to welcome someone of Julie’s stature and abilities to our team,” said Andre Edelbrock, CEO and co-founder of Ethoca. “Her expertise, deep industry relationships and experience will be of tremendous value in spreading the ideas behind collaboration and why it works and how to leverage it to reduce the Total Cost of Fraud (TCoF). We are entering a rapid growth phase for Ethoca, and Julie will be instrumental in helping us scale to that challenge and leading our development of collaborative use cases so that the platform becomes a de facto global standard for e-commerce merchants and industry stakeholders, regardless of which payment processor, fraud analytics tools, acquiring bank, or shopping cart / e-commerce platform they use.”
After a period when it appeared that internet crime might have been contained and no longer growing, the past 18 months have seen an explosion in online fraud as criminals have become more organized into international gangs and more “professional” and business-like in their operations. Fraudsters have figured out payment and fraud systems, and how to look more like legitimate buyers – sometimes even more legitimate looking than real customers – and move extremely quickly and effectively to monetize stolen data. This has amplified the need for a coordinated, collaborative effort by businesses to fight back.
Ms. Fergerson is considered to be one of the industry’s foremost experts on internet payments fraud. In addition to her corporate development work, Julie is a co-founder and board member emeritus of the Merchant Risk Council (MRC), the leading trade association for managing payments, preventing online fraud and promoting secure e-Commerce. She also serves as a board member of the Identity Theft Resource Center, where she created and led the Victim Assistance Program (idtheftcenter.org/VACP), a joint effort between the National Cyber Forensics Training Alliance (nctfa.net), the ITRC and Debix to provide notification and assistance to consumers whose identities have been compromised and found on crime servers by law enforcement.
Ms. Fergerson is a frequent speaker at industry trade events, including International Association of Privacy Professionals, National Retail Federation, Electronic Transaction Association, Economic Crime Summit, Mastercard University, Merchant Risk Council, NACHA, NRF Loss Prevention and the National White Collar Crime Conference. Publications include regular contributions to LooksTooGoodToBeTrue.com (a consumer site run by the FBI and Postal Inspectors), various industry journals, and contributions to three books and two government publications.
Ethoca’s technology enables broad, automated industry collaboration through a highly secure communications hub and repository used by merchants, payment processors, fraud solution vendors, issuers and banks. Its rapidly growing database contains 600 million merchant and payment provider contributed records containing rich transaction information and outcomes across various payment types. Data can be linked by any attribute, offering a 360-degree view of behavioral patterns online that help identify both good and bad orders and customers.
Follow Ethoca at @ethocanews.
Ethoca™ is a registered trademark of Ethoca Limited. For more information about Ethoca visit ethoca.com.