Quova, Guardian Analytics Partner to Fight Online Account Fraud
Quova has announced a partnership with Guardian Analytics to help protect online financial accounts from fraud and identity theft. "Under the partnership, Guardian Analytics has integrated Quova’s IP geolocation data into its FraudMAP solution. Providing online channel risk management, FraudMAP delivers fraud detection, forensics and ongoing risk monitoring based on strong analytics and predictive models of individual behavior. The unique solution was built from the ground up to automatically detect new online fraud threats in real time without requiring rules development or algorithm training."
“While financial services firms have embraced new technology to prevent fraud, criminals continue to outpace their controls,” said Tom Miltonberger, CEO, Guardian Analytics. “By analyzing account holder activity in conjunction with Quova’s geolocation and network data, we can more effectively identify suspicious account activity and better protect the assets of their customers.”
FraudMAP takes full advantage of the detailed IP data provided by Quova to provide rich, predictive models of online activity that identify unusual and potentially fraudulent activity. For example, the accuracy and breadth of Quova’s IP geolocation data allows FraudMAP to instantly identify the account user’s location down to the city level, as well as their specific Internet service provider and connection type.
“As financial institutions become increasingly aware of the threat of online fraud, the need for a comprehensive solution has become more urgent,” said Bill Varga, vice president of business development, Quova. “We are pleased to partner with Guardian Analytics to address this crucial need. This partnership will allow us to provide firms with a unique, tailored solution to help protect account assets and information.”
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