|By Marketwired .||
|July 30, 2014 01:53 PM EDT||
SAN JOSE, COSTA RICA -- (Marketwired) -- 07/30/14 -- Equifax, the information, credit risk, analytics and decision solutions leader, has signed an agreement with iovation, the trusted source for mobile and online fraud prevention, to distribute iovation products in Central America.
With this strategic partnership, Equifax expands its value-added solution portfolio and iovation strengthens its operations through a local partner, providing customers with a leading-edge solution for fraud prevention.
According to recent research, fraud in Latin America exceeds $430 million each year (a $234 million annual increase). Banks lose an average of $50 million per year from theft, and an additional $50 million from illegal activities such as phishing.
This trend is especially worrisome considering the added fraud exposure associated with the rise in use of mobile devices such as smart phones, iPads and other tablets in electronic commerce and mobile banking.
For these reasons, Equifax continues its innovation by signing this important agreement with iovation to provide a top-level solution, protecting electronic channels against fraud loss, improving profitability and enhancing the consumer's experience.
Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide. The company's significant investments in differentiated data, its expertise in advanced analytics to explore and develop new multi-source data solutions, and its leading-edge proprietary technology enable it to create and deliver unparalleled customized insights that enrich both the performance of businesses and the lives of consumers. Headquartered in Atlanta, Equifax operates or has investments in 19 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX.
iovation protects online businesses and their end users against fraud and abuse through a combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 3,000 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company's device reputation database is the world's largest, used to protect more than 10 million transactions and stop an average of 200,000 fraudulent activities every day. The world's foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation's Fraud Force Community, an exclusive virtual crime-fighting network.
For additional information about this solution and other fraud prevention products and services, please contact Equifax Costa Rica by phone at (506) 2280-2818 or (506) 2524-2525, or by email at [email protected]
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