The Green Sheet Online Edition
September 11, 2017 • Issue 17:09:01
Data-driven intelligence for ecommerce protection
ThreatMetrix Inc., a global security company with headquarters in San Jose, Calif., enhanced its Dynamic Decision Platform, an integrated solution designed to help companies verify and authenticate identities and behaviors across billions of ecommerce transactions. The end-to-end solution uses the company's shared intelligence network to differentiate between trusted customers and fraudsters, company representatives stated.
ThreatMetrix described the Dynamic Decision Platform as a technology suite that combines behavioral analytics and machine learning to improve fraud detection and help organizations make informed, automated decisions in real time. It also uses data from third-party sources to identify and investigate anomalies, thereby improving exception processing. Combining dynamic data with information from legacy systems can improve efficiencies, as well as the overall digital experience, the company stated.
"As the payments industry matures, consumer fraud is also maturing; ecommerce merchants and their customers are exposed to a range of threats and false positives and negatives," said Vanita Pandey, Vice President of Product Marketing at ThreatMetrix. "Merchants are not in the fraud management business; they should be free to focus on core business and what they are selling. Advanced technologies and shared intelligence helps us stay ahead of evolving fraud in all its forms."
Advanced, real-time decisions
Diversified populations of connected devices, along with increasingly complex end-user behaviors, pose additional challenges to organizations, Pandey stated. It's not easy to verify and authenticate the digital identities of users who log in from multiple devices, locations and channels. A more nuanced and intelligent authentication process that uses behavioral analytics and crowd-sourced data can help companies accurately identify connected users.
ThreatMetrix uses visualization, data correlation and exception handling to continuously optimize authentication and fraud decisions. It confirms linkages between individuals and their connected devices and isolates transactions requiring additional review. It also organizes and analyzes historical and forensic data. Businesses can adapt the platform according to their risk tolerances and operational metrics to maintain consistent security procedures across all digital devices and channels.
ThreatMetrix reported the platform's end-to-end capabilities and metadata gained from over 20 billion annual transactions have reduced challenge rates and protected 1.4 billion online accounts from fraudulent takeover.
Digital intelligence, delivered
The Dynamic Decision Platform's unique Digital Identity Network provides additional tools and resources to help businesses validate true digital identities and stop fraud before it happens, the company stated. Using shared intelligence garnered from millions of consumer logins, payments and new account originations, ThreatMetrix analyzes device, location and anonymized personal information to create dimensional digital profiles. These profiles are evaluated with each transaction to address the following four pillars of digital identity:
- Device profiling: A variety of technologies and analytics, used to assess connected devices, includes statistical web and mobile device identification and analysis of operating systems, browsers, geolocation services and Internet, VPNs and Proxy detection. The service can also detect mobile device health and application integrity, host application integrity, anomaly and device spoofing detection and jailbreak and root detection.
- Threat intelligence: The network uses advanced and point-in-time technologies to detect a variety of threats, which may include malware, rough auditing tools, automated bot attacks, session hijacking and phishing schemes.
- Identity data: The platform uses anonymized, non-regulated personal information to detect and authenticate end-users, such as usernames, email addresses and other related metadata provided at the time of a transaction or event.
- Behavior analytics: By combining identity and transactional metadata with device identifiers, connection and location characteristics, the platform can create a pattern of individual user behavior that can be used to authenticate digital identities.
"The combination of passive strong authentication methods and global shared intelligence can protect merchants and consumers who transact online," Pandey stated. "It can also protect our ISO partners and their merchants, by streamlining the onboarding process, preventing account takeovers and detecting insider threats."
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