Techub and Quova Bring Internet Geolocation to Italian Financial Services Sector
Industry leading IP data provider teams with local solutions expert for Italian customers across banking and insurance sectors
London, UK – 18th August 2008 – Techub, a very fast growing Italy-based IT company especially focused on the Banking, Finance and Insurance sector, today announced that it has partnered with Quova, Inc., the leading provider of Internet geolocation data and services, to provide comprehensive IP geolocation data to businesses across Southern Europe. The partnership has already proved successful with the rollout of solutions to relevant banking and insurance customers, with many more in the pipeline.
Founded in 2006 and operating in the System Integration, Outsourcing and Software development areas, Techub was seeking new innovative technologies that it could built into its solution sets. More specifically, it saw an interesting opportunity in Quova’s accurate and regularly updated IP Intelligence data, realising it could offer such data to customers in relation to user identification, Know Your Customer activity and generally in verifying user geography.
“With internet fraud increasing exponentially in frequency and sophistication, financial institutions need stronger authentication capabilities. Techub, supporting Italian and European financial institutions in their business, is sure that IP Geolocation-based solutions are the best way to combat authentication fraud and sustain user confidence, as confirmed by several international leading analysts,” said Roberto Scorzoni, Chairman and Managing Director, Techub. “For this reason we are very proud to offer Quova the world leader in geolocation, offering the most comprehensive, deeply researched and reliable location data available today. We are delighted to work with Quova and our clients will benefit greatly from Quova’s expertise both through security and risk management and further potential opportunities in marketing and compliance as well.”
Thanks to the new partnership with Quova, IPDigitalFingerPrint – the solution provided by Techub and built on core IP Intelligence data – is now enriched with innovative and effective features and allows for a superior user experience as customers are now only challenged in the high risk scenarios. IPDigitalFingerPrint is a transparent authentication solution based on the users’ IP behavioural profile.
It examines the characteristics of each user’s access method and scores the potential of fraud, thereby help to prevent threats such as phishing or drive-by-pharming. “Solutions providers such as Techub are really beginning to realise the benefits of integrating IP geolocation data into their systems and platforms, whether it is for fraud, web site analytics, marketing, anti-money laundering or jurisdictional compliance purposes,” said Steve Sawyer as Vice President of Business Development, EMEA. “Quova’s highly accurate data can be relied upon to give end-user organisations a quick method of assessing not only a user’s location but a whole range of extra information about their connection. Because of its accuracy, Quova data adds a great deal of value to well developed applications and we’re excited to see Techub delivering on that promise in Italy.”
One customer that has already rolled out an integrated solution from Techub is Net Insurance – an online business-to-business provider of job-loss insurance against employee loans. Having experienced some fraud attempts via the web, Net Insurance turned to Techub to provide a multifactor authentication solution that would be based around Quova’s IP geolocation data. By combining IP data such as city location, connection type and Internet Service Provider (ISP), with a set of non-IP related business rules, Net Insurance was able to verify user identity and give them access to quotes if they met the necessary requirements.
Further Italian companies have already chosen the Quova-based Techub applications and are appreciating the benefits of having access to frequently updated IP data: for instance, a money transfer company wanting to ensure fraudsters stealing agent’s details were not able to log into fake accounts and a banking group wanting to protect its online customers against phishing and identity theft.
About Techub
Techub is an Italy-based IT company especially focused in the Banking, Finance and Insurance sectors and operating in the System Integration, Outsourcing e Software development areas. Founded in April 2006, Techub is headquartered in Rome and has offices in Milan and Parma. Techub is very fast growing thanks to very innovative IT services and solutions, high level partnerships and its credibility in the market due to the founding managers’ longtime and high level experience in leading ICT companies as well as to its shareholders’ reliability. From Italy, Techub serves the Southern Europe, Middle East and Africa market place, fully taking charge of its solutions, services and projects results even if Third Parties are involved in their delivery. For further details please visit: www.techub.it
About Quova, Inc.
Quova, Inc. identifies in real-time where Web visitors are geographically located. Billions of Web visitors leverage Quova’s data each day through the world’s top 3 search engines to receive regional content and advertising. Internet retailers, ad networks, broadcasters, banks, and government agencies use the data to geo-target their advertising and web content, detect card-not-present fraud and identify theft, manage digital content distribution, enhance web analytics, and more. Quova delivers demographic and network characteristic data down to a city/town area, and is 99.9% accurate at the country level (Independent research conducted by Pricewaterhouse Coopers). Quova, Inc. was founded in 2000 and is privately owned. www.quova.com.
For further information:
Pietro Barrile – Elisabetta Giuliano
PLEON
(+39) 0630260341
Matthew Cross
AxiCom
+44 (0) 20 8392 4079
matthew.cross@axicom.com
