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Playtech boosts fraud prevention power with iovation partnership

TAGs: iovation, Playtech

FraudForce ‘device fingerprinting’ technology provides key piece in fraud prevention jigsaw

London: December 7th 2017 – Playtech, the world’s leading omni-channel gaming company, has agreed to a strategic partnership with iovation, a TransUnion company, to bring its industry-leading FraudForce technology to Playtech operators.

Playtech boosts fraud prevention power with iovation partnershipFraudForce is being made available through the Playtech Open Platform (POP), which facilitates the integration of third-party software with Playtech’s award-winning IMS player management platform. The agreement is part of Playtech’s policy to expand its extensive operator toolset via carefully selected strategic agreements, alongside its significant internal research and development.

Powered by a Global Device Intelligence Platform, FraudForce focuses on the device, not the user, to detect fraudulent activity and identify hidden links between devices and suspicious accounts and identify familiar devices. Access to FraudForce via IMS will empower operators to make real-time, automated decisions on any device they feel may pose a risk.

Since iovation’s incorporation, FraudForce has been able to recognise over five billion devices. Playtech operators can leverage the power of iovation’s international network of four thousand fraud analysts who see up to 30 million transactions a day and stop 300,000 attempts at fraud every day. Working in tandem with other preventative techniques, FraudForce uses the historical behaviour of a device, even across subscribers and industries, to detect any association with previous fraudulent activity and accounts or policy violations.

iovation’s unique device recognition solution uses “Privacy by Design” methodology to ensure ongoing compliance with global privacy laws, including the EU’s new General Data Protection Regulation (GDPR). By employing data minimisation technique and avoiding the use of directly identifying personal data, iovation’s FraudForce is able to protect businesses and valuable customers from the growing threat of cybercrime and fraud.

In approximately 100 milliseconds, Iovation can recognise the device, determine if it is evading detection, check for any previous fraud associations and run any specified transaction risk checks. The FraudForce system then provides an actionable ‘Approve’, ‘Review’ or ‘Deny’ response, with highly detailed reasons for a Deny response.

Shimon Akad, Chief Operating Officer, Playtech, said: “Everyone at Playtech is delighted to be working with Iovation to bring FraudForce to our licensees. IMS is already the most comprehensive player management platform in the industry, but with the Playtech Open Platform, we can enhance its capabilities even further.

‘We are passionate about equipping our operators with world-class fraud prevention tools, and our partnership with Iovation is a key part of our strategy to deliver this. FraudForce is a powerful weapon in the war on cybercrime in online gambling, with its integration into IMS providing a seamless boost to the arsenal of our licensees.”

“We’re excited that Playtech is joining forces with iovation to make the Internet a safer and less complicated place for its licensees,” said Ed Wu, VP of Global Partnerships at iovation. “Our partnership strengthens the ability to spot risks and remediate fraud threats. It’s a fantastic feeling to be able to work together to give users an extra level of confidence.”

Playtech’s partnership with Iovation is the latest in a series of agreements with strategically selected third parties designed to deliver a 360-degree customer toolset, capable of managing the most stringent of regulatory environments. It follows similar partnerships with fraud prevention and risk management software specialists Featurespace, real-time engagement and retention platform Captain Up and gamification experts Thunderbite.

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industry’s leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industry’s most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech’s partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry’s leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtech’s Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2C and B2B basis.

Playtech has in total c.5,800 employees across 17 countries and is headquartered in the Isle of Man.

www.playtech.com

For further information please contact:

Playtech plc
James Newman, Head of Investor Relations & Corporate Communications

Headland Consultancy
Tom James, Jack Gault
+44 (0)20 3805 4822

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