Fraud Prevention in Payments: Through the User Journey - Ofer Golan, Wix
Identiq Recognized in the Gartner Cool Vendors in Privacy, 2020 Report
Identiq has been named as a Cool Vendor in Gartner’s Cool Vendors in Privacy, 2020 Report, and we couldn’t be more thrilled.
It’s not intuitive to think about privacy and fraud prevention in the same breath. Fraud prevention teams always want more data, as much as they can find on their users — after all, how else can they determine which users are real, and which are fraudulent?
You can do it a better way. By asking other companies, who already know and trust the user, to vouch for them.
That’s exactly what Identiq’s network does. It enables companies to collaborate with one another to validate users. Even if a user is new to one company, they’re likely trusted by many others — as long as they’re a real user, that is. Fraudulent users, on the other hand, just don’t have the same depth or real presence. Their identity lacks richness. And the network will be able to see that, too.
What’s special about Identiq is that no personal user data is ever shared, at all, in any way. No sensitive data leaves the company who owns it. No company on the network ever has access in any way to another company’s information. They just get to leverage it. (No, it’s not magic, it’s math.)
In fact Identiq itself never sees, collects or stores any user data either. It’s simply the framework of the network, enabling the collaborative identity validation process. We know that’s unusual. Actually, it’s unique.
This is in huge contrast to the traditional method used by fraud prevention providers and solutions, which all gather and store — and sometimes reshare — tremendous amounts of data. In today’s climate, where consumers are sensitive to their privacy rights and the dangers they face if their information is routinely shared, that way of working no longer seems appropriate.
It’s also a significant regulatory risk. As Gartner says in the Cool Vendor report, “Through 2018 and 2019, more has happened in the regulatory space for privacy and data protection than in the combined 100 years before that. The various worldwide bills and laws in development after the General Data Protection Regulation (GDPR) took effect in 2018 indicate that at least a similar number of changes in the global landscape for privacy are ahead, if not more.”
New challenges breed new solutions. As the Gartner Cool Vendor report notes, “As privacy laws evolve globally, the vendor landscape has developed with innovative solutions that help security and risk management leaders respond to key requirements.”
We’re honored to be recognized as a Cool Vendor in Privacy by Gartner.
You can read our official press release here: Identiq Named a Cool Vendor in the Gartner “Cool Vendors in Privacy, 2020” Report
The GARTNER COOL VENDOR badge is a trademark and service mark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
 Gartner, “Cool Vendors in Privacy, 2020,” Bart Willemsen, Nader Henein, Bernard Woo, Published 17 March 2020
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