LexisNexis Risk Solutions Named a Leader in Javelin Strategy & Research's Authentication and Identity-Proofing Scorecard
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Insights
The recognition of LexisNexis Risk Solutions as a leader in Javelin Strategy & Research's scorecard is a testament to the company's robust product offering in the field of authentication and identity-proofing. From a market research perspective, this accolade could potentially lead to an increased trust and credibility among existing and prospective clients. Companies that are perceived as leaders in their domain often enjoy a competitive advantage, which can translate into market share gains and stronger customer retention.
Furthermore, as cyber threats continue to evolve, there is an increasing demand for sophisticated fraud prevention and identity verification solutions. LexisNexis Risk Solutions' emphasis on machine learning and behavioral intelligence positions the company at the forefront of innovation in this space. This could lead to greater market demand for their services, potentially impacting the company's revenue growth positively.
The integration of machine learning and behavioral intelligence in LexisNexis Risk Solutions' Dynamic Decision Platform addresses a critical need in cybersecurity. The ability to detect and respond to nuanced fraudulent activities, such as the coaching of victims by cybercriminals, is a significant enhancement to traditional security measures. As cyber threats become more sophisticated, the demand for advanced solutions that can provide comprehensive risk assessment is expected to grow.
Organizations are increasingly aware of the reputational and financial risks associated with cyber fraud. Therefore, they are likely to invest in proven solutions that can mitigate these risks. LexisNexis Risk Solutions' leadership position, as recognized by Javelin, may influence decision-makers in the cybersecurity procurement process, potentially leading to increased sales and a stronger market position.
Investors may view the leadership ranking of LexisNexis Risk Solutions in the Javelin report as a positive indicator of the company's market position and growth potential. As businesses continue to digitalize, the reliance on digital identity verification and fraud prevention solutions is expected to escalate. This trend could result in a higher demand for LexisNexis Risk Solutions' offerings, potentially impacting the company's financial performance positively.
It is important to monitor how the company capitalizes on this leadership position to secure new contracts and expand its customer base. The development of innovative products that address emerging threats is crucial for maintaining a leadership position and can have a direct impact on the company's earnings, stock valuation and investor sentiment.
Javelin analysts evaluated the product capabilities of 26 vendors across 168 criteria within the categories of Product Vitals, Product Features and Product Administration. They consider Product Vitals to be the most important category and have given it the heaviest weighting.
The analysts evaluated the LexisNexis® Dynamic Decision Platform, which integrates various identity and authentication solutions for digital and physical channels. These solutions cover in-person, remote, mobile/web app and call center interactions. The LexisNexis Dynamic Decision Platform is a machine-learning fueled platform that enables multiple risk assessment solutions, including digital and physical identity verification, behavioral and device intelligence. It also enables fraud risk analytics and authentication methods such as dynamic questions, one-time passwords with phone verification and identity document checks.
LexisNexis® ThreatMetrix®, LexisNexis® BehavioSec® and other tailored fraud and identity solutions are assisting organizations in combating the growing threat of scams, where account owners are manipulated into transferring funds or disclosing personal information to cybercriminals. Technology from LexisNexis Risk Solutions detects instances where a criminal is coaching a victim, utilizing signals like active caller detection and behavioral intelligence, along with transfer monitoring for anomalies in payee and payer behavior.
"Cybercriminals are evolving their techniques to make it increasingly difficult for organizations to know they are dealing with a genuine customer. Organizations can rise to meet emerging threats with the latest technology to protect their customers, including those who are being manipulated as part of a scam," said Kimberly Sutherland, vice president of fraud and identity strategy for LexisNexis Risk Solutions. "This leadership ranking from Javelin helps validate our fraud and identity strategy and the considerable innovation and effort that underpins it from our teams to support our customers in delivering for their customers."
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro
Media Contact:
Ade O'Connor
+44 78 9091 8264
Ade.O'Connor@lexisnexisrisk.com
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SOURCE LexisNexis Risk Solutions
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