LONDON, UK. – 3rd March, 2008 – Quova, Inc., the leading worldwide provider of Internet geolocation data and services, today announced that YOOX Group , the worldwide e-commerce partner for the leading fashion & design brands , has selected Quova’s GeoDirectory Server to form a critical part of its fraud screening and management platform. 

As part of ongoing efforts to reduce fraud, YOOX Group required a solution that would help increase the consistency of its incumbent fraud management systems by helping to determine a number of key risk factors: customer IP location in comparison to ship to and bill to addresses, type of connection (fixed or mobile) and whether a customer is accessing the website through an anonymizer, a tool which attempts to make Internet activity untraceable.

“Quova fits into our fraud assessment system perfectly, supplying us with fast, up to date data that we know we can rely upon,” said Davide Di Dario, head of customer care, YOOX Group.  “The system analyses a range of information to ascertain the level of risk and pinpointing location plays a very important role within this.  We’re expecting to achieve return on our investment well within 12 months of using Quova.”

Using Quova data, YOOX Group is now able to make a thorough assessment of the risk of fraud and consequently block orders that do not meet the required level of satisfaction.  YOOX Group currently blocks around 20 – 30 % of all orders, which are then passed through for manual processing and closer analysis by customer services.  

“The problem of online fraud is escalating rapidly worldwide, putting global retailers such as YOOX Group in serious danger of losing revenue streams from card not present fraud charge backs,” commented Marie Alexander, CEO, Quova.  “By using geolocation technology, retailers have a quick and easy tool with which to rapidly cross reference ship to and bill to addresses with the real geographic location of customers.  Integrating such processes into anti-fraud mechanisms can not only help drastically reduce the success of fraudulent transactions, but also help to improve the customer experience by decreasing the common delays brought about by false positives.”

About Quova

Quova gives online businesses the ability to determine the geographic location of their Web site visitors.  The company offers the most comprehensive, deeply researched and reliable location data available today — without compromising individual privacy.  More than 300 companies of all sizes use Quova’s data and services to detect and prevent fraud, ensure regulatory compliance, manage digital content rights distribution, and localize ads and web content. The company’s customer base includes Microsoft, Major League Baseball, American Express, the BBC, Ladbrokes and Cisco Systems, and investors include Mobius Venture Partners and IDG. Quova was founded in 2000 and is based in Mountain View, California with European Headquarters in Amsterdam.

YOOX GROUP

The YOOX Group is the worldwide e-commerce partner for the leading fashion & design brands, having established its market leadership as a multi-brand Internet retailer with the virtual boutique YOOX.COM and now extending its expertise by servicing mono-brand online flagship stores developed by YOOX Services.

Established in Italy in 2000, YOOX.COM is the No.1 virtual boutique of multi-brand fashion & design in the world. In 2007, three million visitors per month made it their shopping destination of choice, with more than one million items delivered worldwide. Thanks to a direct relationship with designers, manufacturers and authorized dealers, YOOX.COM is the only destination offering an infinite mix & match of hard-to-find styles and trends:

Mono-brand online flagship stores “powered by YOOX”:

§  www.marni.com (since September 2006): European Union, United States and Japan

§  www.emporioarmani.com (since August 2007): United States

§  www.diesel.com (since November 2007): European Union and United States

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