BOCA RATON, FLA., January 24, 2005 – LexisNexis, a leading information solutions provider, and Quova, a leading provider of Web geography services and technologies, today announced an alliance to help e-commerce merchants fight global credit card fraud, which industry experts project to reach $60 billion by the end of 2005. Through its RiskWise product line, LexisNexis detects high-risk credit card transactions with advanced identity and address verification. Quova develops geolocation technologies that determine the physical location of a website visitor in real time.
“International e-commerce fraud is growing exponentially,” said Tom Brown, Vice President for Credit Solutions, LexisNexis Risk Management business unit. “We are excited to align with Quova to offer our customers the ability to verify the identity and location of their online consumers. This will help our customers fight fraud, protect their businesses and better serve their legitimate customers.”
The LexisNexis RiskWise product line validates and verifies both billing and shipping addresses in card-not-present transactions. LexisNexis RiskWise products also calculate a unique fraud verification score that quantifies the risk level of each transaction. Quova’s GeoPoint service provides real-time identification of the website visitor’s geographic location, from country level down to city-level precision if required.
“We are tremendously pleased to have the opportunity to work with LexisNexis on such an important initiative,” said Marie Alexander, president and CEO of Quova. “We believe that together we are building a new standard of fraud protection for every merchant and financial services enterprise doing business on the Internet. Working with LexisNexis, we look forward to establishing a new mainstream solution for online fraud prevention.”
In the U.S., LexisNexis (www.lexisnexis.com) offers an extensive range of products and customized tools that address job-specific and organization-wide information needs, driving productivity and confident decision-making. For 30 years, LexisNexis has been an information solution provider. Through its risk management flagship products, Accurint®, Banko®, PeopleWise®, and RiskWise®, LexisNexis products help to authenticate identity, locate people and assets, enable commerce, conduct background screening, and support national security initiatives. Customers include government agencies, top law firms, and major companies in the fields of national security, financial services, collection and recovery, insurance, mortgage, telecommunications, e-commerce and retail.
Founded in January 2000, Quova, Inc. is the world’s leading provider of geolocation services to online businesses. Quova`s patented technology determines the geographic location of a website visitor in real time, enabling businesses to manage digital rights, detect fraud, target content, ensure regulatory compliance, conduct site analysis and enhance network security. Quova’s 170+ customers and partners include industry leaders such as Major League Baseball Advanced Media, Cisco Systems, Bell Canada, ABSOLUT Vodka, HPShopping, 24/7 Real Media, IBM SurfAid, BBC, Times Online and VeriSign. A privately owned company with investments from Mobius Venture Capital, IDG Ventures, Nexus Group, Schoffstall Ventures and Fidelity Ventures, Quova is headquartered at 333 West Evelyn Avenue, Mountain View, California 94041 (T: 650.258.3700), with European headquarters at Jan Luijkenstraat 94, 1071 CV Amsterdam, The Netherlands (T: 31.20.888.45.30). Visit Quova online at www.quova.com.
LexisNexis Risk Management
Sean McCabe or Steve Burke
Creative Response Concepts