PORTLAND, OR--(Marketwired - Sep 9, 2015) - iovation, the digital reputation authority, today announced that it has been named a finalist in two separate categories for the 2015 Retail Fraud Awards because of its device-based authentication service. The company is on the shortlist for "vendor of the year" and "most innovative online product." The Retail Fraud Awards is a global competition run by Retailfraud.com, the number one retail fraud and loss prevention resource in Europe. iovation's authentication service leverages device intelligence to validate customers at login.

"While traditional two-factor authentication -- like entering a PIN -- has proven effective at fighting fraud, it is another barrier for good customers," said Jon Speer, iovation's senior product marketing manager. "This recognition is a testament to the unique way that our authentication service stops account takeover while minimizing customer friction."

55 percent of all transactions iovation screened for fraud in August 2015 were at login. By leveraging iovation at authentication, customers increase security, decrease friction and reduce operational costs.

iovation's authentication service verifies whether a customer who just entered their password to log in to their online account is using an authorized device -- such as a laptop or mobile phone. Simultaneous checks are run by iovation to look for risk indicators such as device impersonation, identification evasion or behavioral anomalies. Devices recognized as authorized and low risk gain access transparently, eliminating friction for good users. High-friction traditional second factor methods can still be used for authorizing new or unauthorized devices.

A panel of experts in the retail fraud and loss prevention industry selected iovation as a finalist for The Retail Fraud Awards. Retailfraud.com will honor the winners at the 2015 Retail Fraud Show in Leicester, England on October 8.

About iovation
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 3,000 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of more than 2.5 billion 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 12 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.