Accertify Named as a Leader in Gartner’s latest Magic Quadrant Report on Web Fraud Detection

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CHICAGO, IL – May 4, 2011

 Accertify®, a leading provider of software, tools and strategies for preventing online fraud and mitigating enterprise-wide risks, today announced that Gartner, Inc. has named the company as one of three Leaders in its latest report on web fraud detection. The Magic Quadrant for Web Fraud Detection evaluates providers on their completeness of vision and ability to execute. Fifteen firms were included in the study.

“We believe our positioning in the Gartner Leaders Quadrant reflects the success of Accertify’s comprehensive, flexible and data-driven approach to streamlining our clients’ fraud prevention efforts and decreasing their total cost of fraud,” said Jeff Liesendahl, CEO of Accertify. “Across industries and geographies, we have helped our clients to reduce fraud rates, maximize revenue and improve service to their customers.”

According to Gartner analyst Avivah Litan’s report, “The Leaders quadrant contains three security vendors that have well-established records in fraud detection in various types of use cases. They earn high scores from their customers for their risk scoring and their ability to effectively stop fraud, while minimizing inconvenience to end users. These vendors are well-capitalized, and financially and organizationally stable enough to expand through acquisitions and global marketing and business development efforts. They have a commitment to staying in and winning in this market, and to developing their products and services to meet evolving customer needs. They have also demonstrated that they can support markets in different parts of the world, other than their home countries. Still, even these market leaders have much work to do in improving their products and services, customer support, sales and marketing strategies.”

The Gartner study states, “The Web fraud detection market grew 35% in 2010, as cybercrime and malware attacks proliferated.” It also notes, “Aside from financial services, attacks also picked up at online retailers, airlines, social networks, gaming sites and at most online service providers that had something of value to sell or share.”

Mr. Liesendahl added, “As fraudsters continue to attack companies in an increasingly diverse set of industries, Accertify is focused on continuing to provide superior customer support, as well as enhancing our product offering with new, cost-effective solutions, such as the Accertify Chargeback Management Service we launched in March.”

Accertify, an American Express company, provides a single-source solution to fight fraud across all payment brands, and to reduce order rejections and manual review rates in order to help merchants maximize revenues. Its unique software platform enables both fraud prevention and chargeback management, and also supports enterprise fraud management, detecting fraud and abuse in new accounts, existing account activities and other transactions.

 

About Accertify®

Accertify Inc., a wholly-owned subsidiary of American Express, based in Itasca, IL, is a leader in providing e-commerce companies with software, tools and strategies for preventing online fraud and mitigating enterprise-wide risks. Its Interceptas® platform integrates every component of fraud prevention, applies state-of-the-art automation to each step in process and offers advanced capabilities for managing fraud data. Built with a merchant's perspective, Interceptas delivers flexibility in preventing various types of criminal behavior, including fraud related to card-not-present purchases, online scams and policy abuse, merchandise returns and exchanges and other data management challenges. Accertify is committed to providing online companies with the most cost-effective solution to fraud available. For more information, visit www.accertify.com.

 

About the Magic Quadrant

The Magic Quadrant is copyrighted 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Media Contact

Diana Postemsky
American Express
212-640-9203
diana.c.postemsky@aexp.com