ThreatMetrix’ Anti-Fraud Solution Fits in with GoPro’s SaaS Strategy
LOS ALTOS, CA. – June 23, 2010 – ThreatMetrix™, a fast growing provider of fraud prevention solutions that do not require personally identifiable information (PII), today announced that GoPro®, the world’s best selling and highest performance wearable HD video cameras, has selected ThreatMetrix to help control online fraud and abuse.
GoPro’s HD HERO® cameras are used for shooting a variety of activities, from action sports such as skiing, surfing and motorsports to capturing hard to get footage for professional broadcast and film productions. GoPro sells its products through a variety of channels including distributors, retail, and direct e-commerce.
“The company was created in 2002 by a core group of athletes who also happened to be technology and photography enthusiasts,” said Stephen Baumer, vice president of technology, GoPro. “Squeeze that all together and you’ve got the foundations of GoPro. Our passion is to capture on video those life moments that previously were next to impossible to record.”
When it came to looking for an anti-fraud solution, GoPro determined that it wanted to go with a software-as-a-service (SaaS) solution. “As a small business, I’m a huge SaaS fan,” said Baumer. “I don’t really want to become a security expert or want to incur a high cost in IT overhead managing disparate technologies.”
The ThreatMetrix Fraud Network easily integrates into NetSuite, which GoPro uses for its CRM, financial, e-commerce and inventory management systems. “The bottom line is that I don’t want to wrap our business processes around a piece of technology,” remarked Baumer. “I want whatever technologies we source to fit within our existing business processes.”
The ThreatMetrix Fraud Network provides industry-specific rules-based templates that enable customers to decide whether to accept, reject or further evaluate transactions. Customers can optimize the ThreatMetrix Fraud Network rules and transaction scoring to fit their specific tolerance for risk. ThreatMetrix sends the device identification data it captures to NetSuite via a web API where it is matched with additional information the customer entered online. A fraud score then gets assigned to the transaction along with the customer’s geolocation.
“Using the ThreatMetrix Fraud Network, we’ve gained new visibility into attempted unauthorized transactions,” said Baumer. “The beauty of the ThreatMetrix solution is how carefully the company has thought about each industry’s different fraud requirements. I’m impressed by how easy it is to set up the rules and scoring that is specific to my business. More importantly, I’m able to adjust the scores based on what I’m seeing on a daily basis. I know that there is fraud out there that we haven’t experienced yet and with the ThreatMetrix Fraud Network we are able to stay a step ahead of it.”
Based in Half Moon Bay, California, GoPro is the world’s leading manufacturer of ultra-convenient wearable and gear mountable HD cameras. Since 2004, GoPro has been designing cameras and accessories that make it easy for people to capture images and video during their favorite activities. Its products include the patented HERO® line of shockproof/waterproof wearable cameras and gear attachment devices. For more information, visit www.gopro.com.
ThreatMetrix helps companies stop web fraud and enable e-commerce. The ThreatMetrix Fraud Network helps online businesses verify new accounts, authorize payments and transactions and authenticate user logins in real-time without relying on personally identifiable information (PII). ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix device profiling goes beyond browser fingerprinting to identify the device, bypass proxies and detect the use of botnets. ThreatMetrix’ simple and cost-effective SaaS approach to implementation enables companies to get results in hours or days, rather than weeks or months. The company serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including social networks (dating, gaming), financial services, e-commerce, affiliate marketing and payments. For more information, visit www.threatmetrix.com or call 1-650-625-1451.
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Tel: 650-625-1451, ext. 122
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