Evaluation Based on Completeness of Vision and Ability to Execute
41st Parameter, the leading provider of cross-channel fraud detection and prevention solutions, today announced it has been positioned by Gartner, Inc. on the border of the Leaders and Visionaries quadrants in the 2011 Magic Quadrant for Web Fraud Detection.
“Demand for Web fraud detection software and services are at an all-time high. Hackers and criminals continue attacking financial services and retail firms, and are increasingly reaching into other sectors, such as healthcare, insurance, government, small businesses, Internet service providers, security firms, defense contractors and technology companies,” said Avivah Litan, vice president and distinguished analyst at Gartner, in the report. “Targeted "spear-phishing" attacks that come loaded with malware are more frequently launched against nonprivileged and privileged users who have access to sensitive data or systems that can benefit the thieves financially or in many other ways. This has put a wide variety of enterprises across the globe on alert that they need better protection for their accounts and information.”
“Our rapid expansion as a company is attributable to verified performance in helping customers defeat fraud, as well as the rapid adoption of our SaaS platform across all vertical and geographic markets we serve,” said Ori Eisen, founder and chief innovation officer of 41st Parameter. “We believe our position in the Magic Quadrant for Web Fraud Detection recognizes the strengths of 41st Parameter and we are pleased to have received this recognition from Gartner.”
41st Parameter protects some of the most valued brands in the world including 4 of the largest global airlines, 5 top global banks, and over 120 of the most-recognized online retailers. The FraudNet suite of solutions prevents fraud migration within an organization by providing consistent coverage across all person-not-present channels (web, mobile, MOTO, and kiosk), applications, and critical events in the transaction lifecycle. FraudNet solutions safeguard the three most vulnerable transactions through 1) detection of fraudulent account opening that prevents the creation of new staging accounts for future attacks, 2) account takeover detection pre-empts attacks before assets can be stolen from a compromised account, and 3) identification of transactional fraud.
Unique strengths of the FraudNet platform include:
– High performance risk engine that has de-risked over $25 Trillion in e-commerce transactions and currently screens in excess of 400 million events each month.
– DeviceInsight, 41st Parameter’s tagless device intelligence solution incorporating patented technology proven to uniquely identify a returning device with accuracy that is now 43% better for personal computers and up to 700% better for other browser-enabled devices including smartphones, tablets and even game consoles.
–Hosted deployment model that supports all transaction types and offers options for collaborative data sharing between service subscribers allowing organizations the ability to proactively block attacks that other organizations have already seen and caught.
About 41st Parameter
41st Parameter is bringing transactional integrity to the Internet. Founded in 2004 by some of the most successful fraud practitioners in financial services and e-commerce, today 41st Parameter is recognized for ongoing innovation that keeps FraudNet, its suite of hosted fraud detection and prevention solutions at the forefront of performance for enterprise-class solutions. 41st Parameter’s best practices methodology and patented solution technology are responsible for dramatic reductions in fraud losses and declining attack rates at some of the world’s largest institutions across financial services, e-commerce, and travel services including four of the top five global airlines including Continental Airlines and US Airways, Top 5 Global Banks, and over 120 of the most recognized online merchants including Overstock.com and aggregator 2Checkout.com. The company was named by AlwaysOn as one of the OnDemand Top 100 winners for 2010 and 2011. To learn more about 41st Parameter, visit www.the41st.com
About the Magic Quadrant
The Magic Quadrant is copyrighted 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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