Carvana Wins CSO Award for Innovative Security Approach

Rhea-AI Summary

Carvana (NYSE: CVNA), a top e-commerce platform for used cars, has been honored with the 2024 CSO Award by Foundry’s CSO, an IDG company. This award recognizes 50 organizations for their significant contributions to security and risk management. Carvana's winning project utilized phantom token technology to enhance security and user experience on its site, improving authentication while extending session durations. The award underscores Carvana’s commitment to innovative, secure, and efficient technology solutions. The award will be presented at the CSO Conference & Awards at the We-Ko-Pa Casino Resort in October 2024.

Positive

• Carvana received a prestigious 2024 CSO Award, adding to its reputation.
• The award recognizes Carvana’s innovative use of phantom token technology, highlighting its cutting-edge security measures.
• The project improved user experience by extending session durations and streamlining navigation.
• This recognition can enhance investor confidence in Carvana’s technological capabilities and commitment to security.

Negative

• The press release lacks specific financial metrics or data on the direct business impact of the security project.
• No information is provided on the costs involved in implementing the phantom token technology.

PHOENIX--(BUSINESS WIRE)-- Carvana (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, was named a 2024 CSO Award recipient by Foundry’s CSO (an IDG company). This prestigious award recognizes 50 organizations for a security project or initiative that demonstrates outstanding business value and thought leadership in the fields of security and risk management.

Carvana mobile app (Photo: Business Wire)

Carvana’s award-winning security project harnessed the power of cutting-edge phantom token technology to reduce friction and improve security in the Carvana site authentication experience. This project not only bolstered authentication controls to protect customer information but also streamlined the user experience by extending session duration and allowing customers to navigate across steps and platforms even more seamlessly.

"This recognition is a testament to our relentless commitment to raising the bar for our customers through innovative, secure, and efficient technology solutions," said Dina Mathers, who leads Information Security at Carvana. "Security is a team sport, and we are honored to accept this award in celebration of the entire Carvana technology organization, which continues to deliver tremendous value for our customers and for Carvana as a business."

Carvana will accept its award at the CSO Conference & Awards at the We-Ko-Pa Casino Resort in Fort McDowell, Arizona, held October 21-23, 2024.

About CSO

CSO serves enterprise security decision-makers and users with the critical information they need to stay ahead of evolving threats and defend against criminal cyberattacks. With incisive content that addresses all security disciplines, from risk management to network defense to fraud and data loss prevention, CSO offers unparalleled depth and insight to support key decisions and investments for IT security professionals. www.csoonline.com

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About the CSO Awards and CSO Hall of Fame Award Winners

The CSO Awards recognize organizations for security projects and initiatives demonstrating outstanding business value and thought leadership. The CSO Hall of Fame honors leaders who have significantly contributed to advancing information risk management and security. Inductees exemplify the qualities of leadership and excellence and, by their example, contribute to improving security across all organizations. Award winners are honored at the CSO Conference & Awards.

About Carvana

Carvana’s mission is to change the way people buy and sell cars. Over the past decade, Carvana has revolutionized automotive retail and delighted millions of customers with an offering that is fun, fast, and fair. With Carvana, customers can choose from tens of thousands of vehicles, get financing, trade-in, and complete a purchase entirely online with the convenience of home delivery or local pick up in over 300 U.S. markets. Carvana’s vertically integrated platform is powered by its passionate team, unique national infrastructure, and purpose-built technology. Carvana is a Fortune 500 company and is proud to be recognized by Forbes as one of America’s Best Employers.

For more information, please visit www.carvana.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240618834941/en/

Carvana Communications

press@carvana.com

Source: Carvana

FAQ

What is the significance of Carvana winning the 2024 CSO Award?

The 2024 CSO Award recognizes Carvana's outstanding contributions to security and risk management, enhancing its reputation in the field.

What technology did Carvana use to win the 2024 CSO Award?

Carvana utilized phantom token technology to improve security and user experience on its site.

How did Carvana’s security project benefit its customers?

The project enhanced authentication controls and extended session durations, making navigation across steps and platforms more seamless.

When and where will Carvana receive the 2024 CSO Award?

Carvana will receive the award at the CSO Conference & Awards at the We-Ko-Pa Casino Resort in Fort McDowell, Arizona, from October 21-23, 2024.

What impact might the 2024 CSO Award have on Carvana’s stock (CVNA)?

Receiving the award could boost investor confidence in Carvana’s technological and security innovations, potentially positively impacting the stock.