PORTLAND, OR and LONDON, UNITED KINGDOM--(Marketwired - Apr 22, 2016) - iovation, the provider of device intelligence for authentication and fraud prevention, today announced it will participate on the panel "Authentication in the Age of IoT" at Opus Research's Intelligent Authentication Conference. During the discussion, Tristan Prince of iovation alongside Chuck Buffum of biometrics firm Knurld will field questions from Dan Miller, founder and lead analyst at market research firm Opus Research. The session takes place on April 27 at 2pm BST at London's Grosvenor House.
"The analyst firm Gartner has forecasted that over 20 billion Internet of Things (IoT) connected devices will be online by the end of this decade," said Prince. "While these devices are already transforming and simplifying the way we live, their connectivity also introduces many potentially dire security consequences. The critical challenge facing IT, security, and fraud prevention teams today is enabling these devices to offer a transformational customer experience while still ensuring security. Authentication is the linchpin technology in achieving this balance."
Digital commerce originates from a wide array of IoT devices, which offers consumers convenience but introduces unique fraud risks. In response, a combination of authentication factors -- like location, voice and facial recognition -- have been implemented to rapidly recognize consumers and streamline the online experience. In this session, Prince and fellow panelists will provide data about how authentication has become the foundation of trusted online commerce. They will present concrete examples about how friction-free, passive, continuous authentication extends that trust from the digital to physical world via the billions of connected devices in homes, cars and public spaces.
Some of the other topics that Prince will address include:
- The latest trends in fraud and identity theft
- New statistics on how fraudsters infiltrate connected devices
- New threats associated with IoT
- Where device authentication can be utilized to substitute for passwords during transactions
iovation's Customer Authentication service reduces friction while enhancing site security. It allows consumers with "known good devices" instant passwordless access to low-risk sections of consumer accounts -- like account balances, shopping records and activity histories. If needed, it triggers step-up authentication like one-time passwords for higher risk actions like account changes, money transfers or purchases.
iovation protects online businesses and their end users against fraud and abuse, and identifies trustworthy customers through a combination of advanced device identification, shared device reputation, device-based authentication and real-time risk evaluation. More than 3,500 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of billions 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 15 million transactions and stop an average of 250,000 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 more information, visit iovation.com.