|
41st Parameter Inc.: 41st Parameter Teams With Ethoca To Enhance
Transaction Risk Assessment and Protect E-commerce; Strategic
partnership focused on data sharing for the greater good of joint
customers and their fight against fraud
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:11112008
Scottsdale, Arizona and Toronto, Canada -- 41st Parameter Inc., the
leading provider of internet fraud intervention and detection services
and technology, today announced a strategic partnership with Ethoca,
the leader in collaborative fraud management.With this agreement, joint
customers gain additional insight to aid in assessing card-not-present
transaction risk.
The strategic partnership couples two unique methods to fighting fraud.
The approach combines the e-commerce industry's most effective fraud
screening solution, FraudNet, from 41st Parameter, which utilises
device characteristic technology and pending transaction information to
detect and prevent fraud; and the Global Fraud-Fighting Community
powered by Ethoca, which focuses on shared transactional history data
from a global network of e-commerce vendors. Both methodologies produce
proven results and together will further advance success in the ongoing
fight against fraud.
By partnering, FraudNet customers subscribing to the Global
Fraud-Fighting Community gain access to Ethoca's collaborative database
directly through FraudNet's user-friendly interface, providing further
means for investigators to cross-reference potential instances of
fraud. This generates an additional level of intelligence for fraud
detection, prevention and risk management on an international scale in
one integrated solution.
"Access to Ethoca's worldwide member-based community offers our
customers streamlined visibility to an extensive list of transactional
history, which is extremely valuable to investigators when further
assessing a flagged transaction's fate," said Bob Lewis, CEO of 41st
Parameter. "41st Parameter believes fighting fraud is a team effort
where solution providers and merchants should work together and this
partnership is a step in the right direction toward a unified, global
fight against online fraud."
2Checkout.com (2CO), provider of turnkey e-commerce solutions and
payment processing for 30,000 businesses around the world, is both a
FraudNet user and member of the Global Fraud-Fighting Community, and
was quick to endorse the partnership between 41st Parameter and Ethoca.
"Ethoca augments FraudNet's capabilities by providing a rich repository
of merchant experience data that isn't available from any other
source," says Kristin Dach, CFO of 2Checkout.com. "This creates a
robust solution that limits fraudulent activity for 2CO merchants while
also improving the overall customer experience for both the merchant
and the consumer."
"Ethoca was founded on the belief that knowing more about your
customers enables better fraud prevention and that only through
collaboration can merchants get a 360-degree picture of whom they're
dealing with," said Andre Edelbrock, CEO of Ethoca. "With 41st
Parameter's FraudNet, which is an outstanding product that has helped
merchants prevent the loss of millions of dollars of fraud, we look
forward to enabling our members to get more out of their collaboration
efforts. It's a true win-win-win."
About Ethoca
Working in partnership with forward-thinking businesses, individuals
and law enforcement, Ethoca is making e-commerce safer and more
profitable by building and powering the Global Fraud-Fighting Community.
To be more successful in combating fraud, companies must collaborate
across and within industries by securely sharing transaction
experiences in a way that is not a competitive threat. Ethoca enables
businesses that operate in customer-not-present environments (Internet,
phone, fax or mail) to make more informed decisions about their
customer transactions, by sharing transaction experience data in a way
that is secure, automated, effective and ethical. Community members see
reduced fraud, lower fraud-related costs, increased revenue from fewer
wrongly rejected orders and improved customer satisfaction rates.
Ethoca is a registered trademark of Ethoca Limited.
About 41st Parameter
41st Parameter is the leader in fraud intervention, providing proven
solutions to help protect brands and customers, reduce fraud losses,
and make the Internet a safer place to conduct business. Through a
combination of risk management and loss prevention experience; leading
technology coupled with human interaction and best practices, 41st
Parameter produces solutions with an unprecedented level of detection
capability, decreasing the anonymity of the Internet and providing
valuable insight to every online transaction and customer interaction.
41st Parameter makes the process of detecting and preventing fraud
easier and more effective, reducing both expenses and potential losses.
All trademarks are the property of their respective owners
CONTACT: Manuela Whittaker, IBA - PR for 41st Parameter
Tel: +44 (0)1780 721 433
e-mail: mwhittaker@iba-europe.com
Dave Yohe, 41st Parameter
Tel: +1 480 776 5518
e-mail: dyohe@the41st.com
WWW: http://www.the41st.com
Chris Iafolla, C/O Ethoca, SHIFT Communications
Tel: +1 617 779 1857
e-mail: ciafolla@shiftcomm.com
Matt Cross, C/O Ethoca, Axicom
Tel: +44 (0)208 392 4079
e-mail: matthew.cross@axicom.com
WWW: http://www.ethoca.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
info@m2.com)).
Copyright ? 2008 M2 Communications Ltd.
[ Back To TMCnet.com's Homepage ]
|
INDUSTRIES
Activate Email 
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO East, January 20-22, 2010. Miami, FL.
