ThreatMetrix Enters 2016 as Market Leader in Digital Identity and Global Shared Intelligence
Posted January 14, 2016
SAN JOSE, California – January 14, 2016
2015 momentum included doubling of transaction volume, new product innovations and strengthened market leadership in authenticating digital personas
ThreatMetrix®, The Digital Identity Company™, today announced several calendar year 2015 company milestones and expectations for continued momentum throughout the coming year.
Leveraging the reach and volume of its network, ThreatMetrix empowers many of the largest financial service and e-commerce companies to authenticate consumers in the digital age – quickly, efficiently and with minimal user friction. Delivering up to a 95 percent prior recognition rate fueled by 15 billion annual transactions, ThreatMetrix uniquely understands user identities by weaving together the complex graph of email address, device, location and behavioral attributes.
“ThreatMetrix has driven its business to become the industry standard for protecting digital identities across the internet,” said Reed Taussig, president and CEO at ThreatMetrix. “In 2015, we cracked the code into what a modern digital identity strategy is and expanded our offerings to provide the world’s leading brands with real-time fraud protection and global shared intelligence.”
Throughout 2015, ThreatMetrix made significant advances in digital identity protection and company growth.
- Growth of The Network – As ThreatMetrix solidified its digital identity strategy, its overall transaction volume more than doubled in 2015, and on multiple occasions sustained extremely high traffic and analyzed as many as 4,000 transactions per second. The ThreatMetrix Digital Identity Network (The Network) combines device, identity and behavior analytics to effectively differentiate between fraudsters and authentic users in 120 milliseconds or less.
- Mobile-Centric Reality – In 2015, mobile transactions on The Network eclipsed 400 million new devices. Mobile devices are fast becoming the leading way for customers to access products and services in many industries. Overall, mobile represented 35 percent of total transactions in 2015. Based on proprietary data from The Network, ThreatMetrix expects mobile transactions to surpass 50 percent of all transactions by the end of 2016.
- Product Evolution – In 2015, ThreatMetrix released multiple industry-leading capabilities including real-time analytics (that incorporate machine learning, behavior analysis and a rules engine), a one-of-a-kind integration hub to orchestrate all proprietary and third party integrations, state-of-the-art forensics and visualization tools, as well as enhancements to detect cybercrime from new and existing tactics employed by fraudsters.
- Advanced Cybercrime Protection – Cybercrime continues to be a well-funded and organized operation with cybercriminals deploying advanced techniques to attack businesses across the globe. 2015 saw attacks from many new malware and crimeware tools including Remote Access Trojan and Low-and-Slow Bot attacks designed to evade existing controls. ThreatMetrix worked with leading financial institutions and retailers to help deploy solutions to protect against these advanced attacks.
- Introduction of ThreatMetrix® Connect – ThreatMetrix established a new alliance ecosystem, enabling technology partners to easily integrate services with The Network. ThreatMetrix and its expanding global integration partners help customers lower fraud rates and operational costs, increase revenues and deliver a frictionless end-user experience.
- Global Expansion – ThreatMetrix established a data center in China, where it already has an impressive recognition rate of more than 80 percent.
“The rules for fighting cybercrime have changed, and a global digital identity protection strategy is now imperative,” said Taussig. “With full technical operations now established in China, ThreatMetrix has the global reach and customer base to drive and sustain even greater growth milestones.”
- Quarterly Cybercrime Report – Following its launch in 2014, ThreatMetrix continued the release of its quarterly report outlining the landscape of cybercrime through data from The Network. The report is the only one of its kind and offers a representative summary of trends and activity across industries, identifying the types of attack methods used to perpetrate account creation, payment and login fraud.
- ThreatMetrix® Cybercrime Prevention Summit 2015 – The fifth annual summit was the largest to date, bringing together more than 300 cybersecurity and fraud experts from around the globe. Themed “Connect & Collaborate,” presenters included fraud and security executives from the world’s leading online businesses, representing financial services, e-commerce, social networks, government, insurance and other industries.
“Our ThreatMetrix Cybercrime Report and annual summit serve as continued validation of our leadership position in the digital identity space,” said Taussig. “To support our position as the world’s leading digital identity company, we’re thrilled to announce a rebranded summit for 2016 – The Digital Identity Summit. In 2016 and moving forward, we’re making the switch from a private to a public event, to give even more attendees from around the world the opportunity to collaborate on the latest digital identity, fraud prevention and global shared intelligence strategies. The summit is one of many exciting initiatives ThreatMetrix has planned for 2016, as we develop new ways to understand and protect digital identities against sophisticated threats.”
To learn more about ThreatMetrix and the Digital Identity Network, visit https://www.threatmetrix.com.
- Video: ThreatMetrix®, The Digital Identity Company
- Press Release: ThreatMetrix Unveils New Global Alliance Ecosystem
- eBook: ThreatMetrix Cybercrime Report: Q3 2015
ThreatMetrix®, The Digital Identity Company™, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 15 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix® Digital Identity Network, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain, and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government, and insurance.
For more information, visit www.threatmetrix.com or call 1-408-200-5755. Join the cybersecurity conversation by visiting the ThreatMetrix blog, Facebook, LinkedIn and Twitter pages.
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