Leading consumer, commercial and workforce information
) recently joined forces with iovation, a leading provider of
device reputation, to develop a solution to protect against
fraud. The offering will help to safeguard mobile users from
theft, account takeover and other smartphone security issues.
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The partnership will help Equifax to protect against threats such
as account takeover, data breaches and internal fraud risks,
which in turn will mitigate fraud, protect privacy and reduce
data loss, thereby enhancing user acceptance and satisfaction.
Per the deal, Equifax's Identity and Fraud Solutions Identity
Proofing and Progressive Authentication will be combined with
iovation's ReputationManager 360. This will help to reduce fraud
and manage threats coming from mobile browsers such as iOS and
Android or native applications.
iovation provides real-time, actionable reputation intelligence
that exposes online fraudsters and protects online businesses
from cyber threats, which in turn enhances operational efficiency
and improves customer experiences.
According to a recent survey by the National Cyber Security
Alliance, approximately 77% of small and medium-size businesses
(SMB) consider themselves to be safe from hackers, viruses and
other cyber security threats without adopting adequate safety
Earlier, in order to further strengthen its position in the
identity protection market, Equifax expanded its risk-based
authentication services within the Identity and Fraud product
Equifax's focus on product innovation, broadening of data assets
through acquisitions and continued share gains in North America
are encouraging. We believe Equifax is well positioned to benefit
from its leadership in important markets and strength in
Given the company's strong correlation with the consumer and
financial markets as well as its U.S. and European exposure, we
see a gradual improvement in results. Competition from
Automatic Data Processing, Inc.
) is, however, a concern.
Currently, Equifax has a Zacks Rank #4 (Sell). Investors should
instead consider stocks such as
Official Payment Holdings Inc.
), which has a Zacks Rank #1 (Strong Buy).