GSI Commerce Signs Multi-Year Deal
for Client Device Identification Solution from The 41st
Parameter
Patent-Pending Fraud Net™ Technology Accurately Pinpoints
Online Fraud While Significantly Improving Business and
Operational Efficiencies
SCOTTSDALE, AZ. — March
6, 2007 — The 41st Parameter, a
leader in agent-less client device identification (CDI) for
the online channel, today announced that GSI Commerce, Inc.®
(Nasdaq: GSIC) has selected its proprietary FraudNet™
solution, designed to accurately identify client devices
online in order to detect and prevent Internet fraud. GSI,
which operates e-commerce businesses for about 60 partners in
11 retail merchandise categories, uses FraudNet to
identify suspect versus legitimate online devices and
transactions to help prevent criminals from completing
fraudulent purchases.
Since signing the multi-year
agreement in July 2006 and moving into full production in
December 2006, the FraudNet implementation has helped
GSI recognize improvements in operational and business
efficiencies, including a significant reduction in their daily
order review rates. Improving fraud detection accuracy and
operational efficiencies help GSI meet strategic business
objectives to operate efficiently while deploying
state-of-the-art technologies that benefit its customers.
"FraudNet delivers an effective level
of fraud prevention and distinguishes itself from other
solutions by minimizing the inconvenience to legitimate online
shoppers due to a process that identifies a small, but
persistent, number of fraudulent purchase attempts," said Ken
Guerrini, vice president of business operations at GSI
Commerce. "With Fraud
Net, we're able to identify suspect end-user devices and
related fraudulent transactions without impacting the online
user experience for legitimate customers."
FraudNet leverages several patent-pending
technologies to authenticate purchases and combat Internet
fraud and identity theft. Completely invisible to end users,
the solution requires no user enrollment or registration, nor
does it require the use of cookies, tags or software
downloads.
"GSI Commerce partners with premier brands
that have significant online volumes - both of which are
attractive targets for fraudsters," said Ori Eisen, founder
and chairman at The 41st Parameter. "Using FraudNet
to identify specific devices attempting fraudulent purchases
helps GSI Commerce strengthen the protection it provides its
partners' merchandise, brands and ultimately, consumer trust
in the online channel."
About GSI
Commerce
GSI Commerce is a leading provider of
e-commerce solutions that enable retailers, branded
manufacturers, entertainment companies and professional sports
organizations to operate e-commerce businesses. GSI provides
solutions for its partners through an integrated e-commerce
platform, which is comprised of three components: technology,
logistics and customer care, and marketing services. The
company provides e-commerce solutions for approximately 60
partners.
About The 41st
Parameter
As the pioneer of agent-less, client
device identification (CDI) and document masking solutions for
online fraud detection and prevention, The 41st
Parameter offers highly accurate, non-intrusive fraud control measures for eCommerce, eBanking
and other online businesses. By continuously collecting
new and unique parameters from end-user computers
during online account access or order processing, the Company's
patent-pending technologies enable forensic identification of PCs
and online devices. Such accurate device
identification helps improve operational efficiencies and minimize
investigative resources, saving time and money while better
protecting legitimate customers. All of the Company's solutions
require no end-user registration, enrollment, downloads or installations. To
find out how the Company is making fraud history, visit
www.the41.com or call
1.888.the.41st
(1.888.843.4178).
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