As issues of fraud and other similar activities continue to occur in online settings, businesses and organizations must come up with ways to secure data and establish methods to verify identities. Iovation, Inc. is working on ideas to solve these types of problems. Greg Pierson, President/CEO of Iovation, Inc. discusses these issues with Denise Howell. His company has developed methods to establish a "digital identity" for individual devices. By establishing the reputation of machines, Iovation is able to not only to assure customers, but also discover possible fraud and other illegal activities.
Iovation does not track people, but as device information is gathered, the details are shared with all customers. In addition, while Iovation does not detect fraud, the information provided might allow a company to avoid a problem and make a personal identification. By developing a database of associations and devices, businesses are better able to avoid problems.
Pierson also discusses some of the upcoming rules being developed by the Federal Financial Institutions Examination Council, which will require financial institutions to better authenticate valid customers. As online activities continue to be more sophisticated, businesses must continue to improve their methods to determine identity.
Greg Pierson is President/CEO and founder of Iovation, Inc. Before founding his past two companies, Pierson served as global retail practice manager and business process architect with Accenture, managing business system design and implementation projects for Fortune 500 clients. Pierson has over 15 years experience improving business processes and successfully implementing technology to solve complex business problems in e-commerce, retail and manufacturing.
This free podcast is from our Sound Policy with Denise Howell series.