The Magic Quadrant Serves as an Evaluation of Vendors in the Online Fraud Detection Industry Based on Completeness of Vision and Ability to Execute
San Jose, CA – June 7, 2012 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, announced today that it has been positioned by Gartner, Inc. in the “Visionaries” quadrant of the “Magic Quadrant for Web Fraud Detection (WFD).”
“The Web fraud detection market grew about 25 percent in 2011 as unrelenting cyberattacks and data breaches persisted,” said Avivah Litan, vice president and distinguished analyst, Gartner. “Smaller vendors drove innovation, and their products were often added on top of existing WFD software from larger vendors to improve overall fraud prevention.”
Gartner describes visionary companies as offering “products that are very easy to implement and use, and have achieved very good results in reducing online fraud using SaaS-based models. Most of the vendors in this category serve multiple use cases across sectors. They each have a very good understanding of their markets and the problems they are trying to solve, along with solid strategies that have them set for healthy growth.”
“We believe ThreatMetrix’s position in the ‘Visionaries’ quadrant this year is evidence of our company’s expertise in web fraud detection,” said Reed Taussig, president and CEO, ThreatMetrix. “With the acquisition of TrustDefender, ThreatMetrix recognizes that the current risk environment has changed, calling for an integrated device identification and malware protection solution.”
In the next five years, Gartner expects two macroforces will drive enterprise interest in using WFD technologies for their internal systems, which should further expand the WFD market. These macroforces include: the bring your own device (BYOD) to work phenomenon and cloud computing, where systems are hosted externally.
“Macroforces like BYOD and cloud computing have the potential to wreak havoc on enterprises, because they reduce internal control over company information and accounts,” said Taussig. “ThreatMetrix offers a single, integrated fraud detection and malware protection platform backed by a global network of shared intelligence, which can help companies reduce the risks of such macroforces.”
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 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.
Walker Sands Communications