The core of InExchange’s innovative capabilities is built upon InAuth’s next-generation device identifier for both mobile apps and browsers. InAuth leverages thousands of device attributes to create a unique identifier for mobile apps and a similar identifier for browsers, allowing InAuth to identify the same device across multiple organizations. To understand the riskiness of a digital transaction, InExchange participants can query the network to gain intelligence about the reputation of a device along with anonymized user data elements associated with that device. Contributions to InExchange are managed in compliance with SOC 2 requirements, an industry standard for the secure management of data. All data within InExchange is cryptographically masked so it is anonymized and protected, and clients using InExchange do not have access to other clients’ transaction data.
InExchange is particulary valuable in situations where a device may be transacting with a business for the first time, such as a new digital account opening at a bank or a guest checkout transaction on an ecommerce site.Enhancements to InExchange will enable that business to have a greater degree of confidence about whether the device should be trusted based on prior interactions it has had with otherusers of InExchange. With U.S.card-not-present fraud expected to rise to $7.2B by 2020, an intelligence model where businesses can leverage an aggregated view of digital intelligence across many industries has never been more critical.
“Without the benefit of enhanced risk intelligence from InExchange, businesses are working in silos with limited information on the positive or negative history of the devices using their digital channels,” said Lisa Stanton, President, InAuth. “InExchange helps to solve that issue by leveraging the collective experience of an entire network of participating companies across key industries, including banking, payments and ecommerce. We’re excited to deliver an innovative solution that allows businesses to expand digital services offerings, enables good consumers to transact in a frictionless manner, and can help stop fraud from happening before it occurs.”