April 20, 2018
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April 13, 2018
Posted April 4, 2017
New release extends leadership in next generation identity and fraud management and supports PSD2 requirements
San Jose, California – (April 04, 2017) ThreatMetrix®, The Digital Identity Company®, today announces its Spring ’17 Release. This major product update fulfills a long-term vision to deliver end-to-end identity, fraud and authentication orchestration through an advanced decisioning platform with best-in-class integrated services.
Key enhancements include state-of-the-art Case Management for continuous and dynamic optimization of fraud decisions, new Digital Identity Verification capabilities, and a new Strong Customer Authentication framework to enhance the mobile offering and meet upcoming PSD2 requirements.
“Fulfilling the Dynamic Decision Platform vision puts the power of our Digital Identity Intelligence into the hands of our customers, allowing them to use ThreatMetrix for complex fraud and authentication decisioning, effectively bringing dynamic data to life,” says Alisdair Faulkner, chief products officer at ThreatMetrix. “Our platform evolution now introduces major changes affecting the global financial services sector to support global Open Banking initiatives and the European Banking Authority’s PSD2 legislation.”
Spring ’17 Release highlights include:
Case Management is part of the Dynamic Decision Platform and is integrated seamlessly with the ThreatMetrix Forensics portal, providing fraud detection and management in a single solution. The Case Management system monitors, updates and isolates transactions that require additional review, providing a smarter, more integrated way to handle increasingly complex caseloads with shrinking resources. With the Spring ’17 Release, Case Management has been optimized for increased efficiency, with enhanced analytics and visualization.
Integrated Strong Device Identification and Risk Based Authentication for Open Banking Requirements
ThreatMetrix introduces Strong Device ID through the enhanced Mobile SDK, which facilitates the first phase of Strong Customer Authentication, wherein the customer’s mobile device becomes the authenticator and the ThreatMetrix SDK becomes the enabler. Strong DeviceID is a crypto-based PKI certificate — a cryptographic way to assert that the device in question is the same device that was originally registered.
The ThreatMetrix platform supports the integration of risk-based authentication (RBA), leveraging Digital Identity Intelligence, and Strong Customer Authentication capabilities introduced in the Spring Release.
These developments are in support of global Open Banking initiatives, which sees banks open their payment account data to third parties through APIs. Organizations across the globe are preparing for the European Banking Authority’s revised Payment Services Directive (PSD2) and the introduction of strong authentication requirements. The ThreatMetrix approach helps organizations meet evolving regulatory requirements while introducing minimal customer friction.
Extended Digital Identity Verification
New capabilities have been added to the ThreatMetrix Digital Identity Verification solution, which allows organizations to onboard relevant third-party data sources and custom services to provide additional authentication and identity verification services for high-risk transactions. Risk scores based on telephone attributes have been added to the suite of identity verification services, enabling the validation of high-risk phone transactions. Additionally, risk-based scores utilizing email intelligence have been integrated to identify potentially dangerous transactions.
Smart Analytics Enhancements
A new formula editor has also been added to the online portal to enhance fraud decisioning capabilities. This allows the implementation of regression model calculations based on variables and reason codes, which gives fraud analysts the ability to better model the relationship between two variables and to import models generated by other software solutions.
ThreatMetrix Learning Center
On-demand training through the Learning Center enables ThreatMetrix users to access valuable training 24-7 anywhere in the world.
Spring ’17 Release updates are available to all ThreatMetrix customers and prospects.
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 4,500 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