100%+ Network Transaction Growth; 65% Billings Growth; 52% GAAP Revenue Growth Year-Over-Year; Now Serving 17 Top Global Financial Institutions
SAN JOSE, CA--(July 06, 2016) - ThreatMetrix®, The Digital Identity Company™, today announced business highlights for the first half of 2016 pointing to expanded Network usage within the core eCommerce industry and accelerated market adoption across the global Financial Services sector. The company's record results and Financial Services industry momentum are directly attributed to strategic investments in product innovation, key customer wins, emerging thought leadership and a strengthening of its executive team.
"ThreatMetrix continues to achieve ambitious corporate milestones while serving an increasingly global and sophisticated customer community. Customer billings have increased by 65 percent and GAAP revenues have increased by 52 percent year-over-year for the half, while Network transaction volume has more than doubled," said Reed Taussig, CEO of ThreatMetrix. "Global financial institutions have embraced the ThreatMetrix Digital Identity Network, and we are honored to now serve 17 of the world's leading banks with frictionless fraud detection, threat intelligence and digital authentication solutions."
1st half 2016 business highlights include:
- ThreatMetrix Open Intel, a solution that uniquely orchestrates third-party intelligence signals within the ThreatMetrix platform to enhance fraud prevention and authentication across the enterprise.
- ThreatMetrix Spring '16 Release, which introduced a new Smart Analytics service combing behavioral analytics and machine learning capabilities.
- In June, a webinar featuring ThreatMetrix customer Visa titled "Risk-based Authentication - The Fuel for Business Without Borders" examined how fraud and risk professionals have an opportunity to take a customer-centric view to improve a bottom line.
- ThreatMetrix continues to dominate the peer-to-peer lending landscape, now serving 6 of the top 9 online lenders. In January, the company hosted a webinar featuring ThreatMetrix customer Kabbage and analyst firm Aite Group titled "Balancing Fraud and Customer Engagement for the Digital Economy," that examined minimizing fraud in a frictionless, customer-friendly way while maintaining high standards of service.
- In May, ThreatMetrix hosted a panel with Aetna, State Street and Cisco at the 2016 FS-ISAC Annual Summit titled "Big Data, Banking and Blockchain: Plotting Your Digital Course to Competitive Advantage" that addressed how security professionals have the opportunity to be a valuable partner in helping financial institutions navigate the risks and rewards of blockchain adoption.
- Also in May, ThreatMetrix and First Annapolis released results from a multi-market study examining consumer perceptions of online and mobile banking and payments security across the U.S., U.K. and Australia. Among the many findings in the study was this staggering insight: one year's worth of friction and fraud is estimated to cost U.S. banks $14.9 billion in lost relationship value.
- Leah Evanski has joined ThreatMetrix as Vice President, Strategic Alliances. Formerly with Experian, FICO and Cisco, Evanski brings deep domain experience in partner strategies and product innovation in fraud and identity management.
- George Tubin has joined ThreatMetrix as Senior Director of Product Strategy and Innovation. Formerly with IBM, Trusteer and Tower Group, Tubin brings to ThreatMetrix a respected reputation as a technology analyst to the global financial services industry.
- As the company enters the 2nd half of 2016, ThreatMetrix is preparing for its Digital Identity Summit 2016. Taking place October 12-14 at the Terranea Resort and Spa in Rancho Palos Verdes, California, the Summit will convene like minds from leading e-commerce companies, financial institutions, government entities and more to highlight the cybersecurity best practices of today and the strategies of tomorrow. Registration remains open.
ThreatMetrix®, The Digital Identity Company™, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix® Digital Identity Network, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.
For more information, visit www.threatmetrix.com or call 1-408-200-5755. Join the cybersecurity conversation by visiting the ThreatMetrix blog, Twitter, Facebook and LinkedIn pages.
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