Changing the Cybersecurity Landscape with Global Shared Intelligence
Posted August 13, 2015
I joined ThreatMetrix® as CMO in early August, and I’m incredibly excited with the tremendous growth opportunity our solutions have to offer. Using global shared intelligence through the ThreatMetrix® Digital Identity Network, we analyze billions of transactions and protect hundreds of millions of active user accounts across tens of thousands of websites and mobile applications.
ThreatMetrix has a strong story to tell in the markets we serve – including e-commerce, financial services, media, insurance, healthcare and more. One of the most compelling aspects of our solutions is our commitment to protecting customers and digital identities without adding friction to the end-user experience. This is done using global shared intelligence.
Using Global Shared Intelligence to Assess Digital Identities
Every time a network is breached, such as the recent attacks on Anthem, the IRS and OPM, every financial institution becomes the target of the digital debris. Following high-profile data breaches, pieces of a user’s digital identity – including email addresses, phone numbers, Social Security numbers and more – can be used repeatedly by fraudsters, with each attack increasing in sophistication. Much progress has been made for automating malware threat intelligence, but the greatest advancement against cyber threats will not happen until we have shared intelligence about identity abuse.
To proactively thwart cybercriminals, businesses need to look beyond their own firewalls to share actionable threat intelligence about compromised identities and devices. Businesses need new ways of assessing digital identities by leveraging global shared intelligence to detect when personal information and devices are being used illegitimately based on historical norms. The ThreatMetrix Digital Identity Network brings together all aspects of a person’s online devices and behavior into one unique digital identity, which combines the specific device and persona each individual is using to accurately authenticate users in real time.
Placing an Emphasis on the End-User Experience
When it comes to cybersecurity, businesses are often stuck between a rock and a hard place. They do not want to inconvenience end users with added security measures or accidentally turn away authentic users due by flagging them as fraudulent. At the same time, businesses want to ensure their customers’ digital identities are protected against advanced cybercrime threats. ThreatMetrix maintains a balance between advanced security and a positive end-user experience by using anonymized global shared intelligence. Analyzing more than a billion transactions each month across a global network, ThreatMetrix can more effectively differentiate among fraudsters and authentic customers without adding superfluous authentication measures such as SMS verification.
In addition to the continued growth of our digital identity network and global customer base, ThreatMetrix has a several exciting initiatives in the pipeline. In October, we’ll host our fifth annual ThreatMetrix Cybercrime Prevention Summit, which brings together experts from around the world to collaborate on the latest trends in cybersecurity, mobile fraud, shared intelligence and more. We’re also in the process of finalizing our latest quarterly ThreatMetrix Cybercrime Report, which is one of the most comprehensive reports of its kind, examining cybercrime attacks and trends detected by our global network across mobile, e-commerce, financial services and media.