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Iovation Stays a Step Ahead

Iovation is fast becoming one of the leading fraud and abuse management companies in the world. Over the past several months Iovation has announced that the leading online casino companies in the industry have joined Iovation’s fraud management network, and now, in addition to that support, Intel Capital recently announced a $10 million investment in Iovation. Intel Capital justified the investment in Iovation with the rationale that next-generation fraud and abuse management are imperative for businesses in the long-run (businesses in the online casinos industry, but in other internet-led industries as well), and $10 million goes a long way toward further research and development.

Iovation specifically provides companies that operate via the Internet with an integrated fraud management network so that companies are optimizing their protection. Iovation’s software uses fraud and abuse information to protect all companies on the Iovation network, so they all benefit from the shared knowledge and information. And additionally, what really benefits the online casino industry is Iovation’s device reputation service. Though Iovation’s software really benefits companies in a variety of online businesses from financial sectors to social networking, the online casinos companies are fast acknowledging the benefits of real-time fraud management.

The CEO and Co-founder at Iovation, Greg Pierson, comments on Intel’s investment. He notes, "We are thrilled to have Intel Capital as an investor and share their vision that device reputation will become the trust infrastructure for the Internet, transforming the way businesses and consumers interact online."

And as for Intel, though not interested in the online casino industry, the company does have a vested interest in keeping Iovation a step ahead of fraudsters and those who use the Internet to abuse online-based businesses. The President at Intel Capital, Arvind Sodhani, comments "The importance of security and fraud protection on the Internet cannot be over valued. This market segment must stay one step ahead of business needs and our investment should go a long way toward helping Iovation provide meaningful online security benefits."