Consumers today are more aware and knowledgeable of what digital security is and how it impacts them. And now with the term "breach" increasing in headlines over the past 18 months, consumers are ultra-aware of the importance of digital security. But, it's not just about security, it's also about a better user experience. With mobile becoming more and more commonplace for transactions, consumer behavior has shifted. In 2017, our data (source: iovation, January 2018) shows the change in user behavior; of the 6.5B transaction we saw, 50.4% came from a mobile device vs. desktop. This means that the pendulum will continue to sway toward mobile transactions. The theory of creating an "Amazon-Like-Experience" has a started to become a demand from consumers for many brands.
Organizations are forced to provide a secure experience without sacrificing usability to meet customer demands.
Your digital business strategy is no longer "set it and forget it." Today's brands must have a transparent, layered security approach that includes both evaluating the risk of the device and the identity of the purchaser. Device reputation does just that. It looks at the device specifically trying to complete a transaction to evaluate if it is okay for me to trust this device or does it have a history of fraud that would make it riskier? Step up authentication will only be enabled if a device's integrity is elevated. In addition to fraud risk factors, the security approach also looks at relationships of associated devices and/or associated accounts.
Device reputation is an essential element of your adaptive authentication strategy because by looking at the device, you are getting more granular insights on the transaction. Device intelligence collects attributes, analyzes them, and correlates that information to other known devices and accounts in order to determine a risk profile. This profile can help indicate the presence of criminal activity and this should be incorporated into your most critical frontline defense for adaptive authentication.
Seeing Device Reputation transform your experience.
As more breaches are bound to happen, as a brand you want to ensure your organization is proactive to keep your reputation intact. You need to be easy to do business with (adaptive authentication) and also ensure a secure environment (device reputation). And as consumers become more savvy buyers, trust and innovation should be at your core.
Device reputation allows you to provide new services to your customers that won't compromise the user experience while mitigating risk. Now, before you issue a mobile smart credential to your user's device, you can verify its integrity by ensuring that it hasn't been linked to any fraudulent activity - allowing you to feel confident about your customers transactions.
Guest post by:
Ashley Hall, Partner Marketing Manager, iovation
Ashley Hall is a pure Oregon native. Born and raised in iovation's home state, she attended the University of Portland, where she earned a degree in Marketing Management and Entrepreneurship, and has been delivering stellar results for technology companies for nearly a decade. Her expertise spans all things marcom, sales enablement and demand generation, and golf! Whether she's driving partner programs at the office or driving for distance on the golf course, exceptional performance is par for the course.