Direct Alliance Corporation to Pilot Patent-Pending Fraudnet™ Technology from The 41st Parameter
Leading Business Outsource Processor Pilots Covert Fraud Prevention Solution to Protect Clients from Identity Theft and Online Fraud
SCOTTSDALE, Ariz. – February 23, 2006 – The 41st Parameter, a leader in covert fraud detection and prevention for the online channel, today announced an agreement with Direct Alliance Corporation (“Direct Alliance”), a subsidiary of Insight Enterprises, Inc., to pilot its proprietary FraudNet™ technology, a solution designed to pinpoint fraudulent versus legitimate e-commerce transactions. The parties signed the agreement in September 2005, and the pilot implementation commenced in the first quarter of 2006. Additional details of the agreement were not disclosed.
Direct Alliance will use the technology in connection with its hosted e-commerce environment, which supports online sales, order processing and order fulfillment for select Direct Alliance clients, including several leading consumer electronics providers. After evaluating a number of available technologies, Direct Alliance elected to pilot FraudNet to help build efficiencies into the investigative process and reduce false positives while not impeding the user experience in any way.
“FraudNet is an important piece of our security puzzle," said Darren Skarecky, vice president of finance for Direct Alliance. “The world of high-ticket electronics is a prime target for fraud, while high abandonment rates caused by credit department delays can be a sales barrier. Solutions that take some of the heavy lifting off of our investigative teams without impacting the user experience are critical.”
FraudNet leverages several patent-pending technologies to enable investigative teams to focus on suspect orders while significantly reducing false positives: EZKeys™ detects strings of keystrokes with low typing effort; DataSpider™ links seemingly unrelated fraudulent orders based on common data elements; and TimeDiff Linking™ detects repeat offenders from the same PC and quickly contains threats posed to more than one transaction. Combined to calculate more than 260 separate algorithms, the unique technology in FraudNet has been proven to deliver unprecedented accuracy rates in the risk management and fraud detection industry.
“We look forward to working with Direct Alliance to help further secure the online environments of its clients,” commented Ori Eisen, founder and CEO of The 41st Parameter. “We are confident in FraudNet’s ability to help support Direct Alliance’s online business by deterring fraudsters and protecting the user experience.”
About The 41st Parameter
As the pioneer of covert, online fraud detection and prevention technologies, The 41st Parameter offers highly accurate, non-intrusive fraud control measures for the online channel. By continuously collecting new and unique parameters from end-user computers during online account access, the Company’s patent-pending technologies enable forensic identification of devices to monitor suspicious or fraudulent account activity and help protect sensitive customer data. The 41st Parameter’s products have “zero imposition,” requiring no action or behavior change on the part of the consumer. For more information, please visit www.the41.com.
About Direct Alliance
Direct Alliance (www.directalliance.com) creates custom business process outsourcing solutions for clients who sell their products either directly or through channel sales partners. Utilizing its proprietary technology, infrastructure and processes, Direct Alliance manages analytics, direct marketing, sales, financial services, logistics and supply chain management for its clients. These services enable manufacturers of brand-name products to sell directly to customers and support existing indirect sales channels in a cost-effective and timely manner. Founded in 1993, Direct Alliance employs more than 700 people in its Tempe, Arizona, headquarters. Direct Alliance is a wholly owned subsidiary of Insight Enterprises, Inc., (Nasdaq: NSIT), ranked number 552 on Fortune Magazine’s 2005 ‘Fortune 1000’ list. For additional information about Insight Enterprises, Inc., visit www.insight.com.
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