IdentityMind vs ThreatMetrix comparison

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Executive Summary

We performed a comparison between IdentityMind and ThreatMetrix based on real PeerSpot user reviews.

Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention.
To learn more, read our detailed Fraud Detection and Prevention Report (Updated: March 2024).
765,234 professionals have used our research since 2012.
Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"They have a very wide variety of rules that allow you to integrate well.""The automated checks are excellent."

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"The user interface, the portal, is very helpful in describing what attributes of concern are associated with the device.""Accessible custom rules with a monthly update on performance.""There is excellent documentation available.""The most valuable feature the solution has is that it is able to do a fairly accurate fraud assessment of a credit card transaction based on a variety of parameters configured by the merchant.""It is a stable solution.""The solution is stable.""The most valuable thing is about the IP. They have a database of malicious IP addresses against which they check. They have a huge database for routed devices and the devices that have been used in the past to commit fraud. They have extensive historical records of all of that information, and that's probably the most valuable thing about ThreatMetrix. Over the years, they have been collecting and persisting globally across all the banking and financial services. They have been storing all this information. It is this stored information that I and my team find valuable; it is not so much their technology. If you are running it on a simulator and trying to maliciously clone and copy IP addresses and stuff like that, they have a bunch of technologies, like routes section and all the other stuff. It is just that they have something that no one else can deal with, that is, massive amounts of big data about the malicious IP addresses, malicious device fingerprinting, the fingerprinting router devices, and the fingerprints. You can query against this stored information to find out whether your app is in a good, nice environment. If yes, you get a green light. The last time I checked, there were about 400 or 500 features that they can stack against, which is pretty extensive. They give you a score against all those features for every application that you installed on it. It is pretty good in that sense."

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Cons
"The UI at first felt like it wasn't the easiest interface to interact with.""Some of the language around rules and integration can certainly be improved."

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"SDK is probably where the biggest issue is. The SDK configuration is a bit lacking. If you are integrating it into your workflow, it is very cumbersome and very difficult to integrate. You have to understand and be an expert in low-level mobile applications to integrate this stuff. Integration should be easy based on what they are providing, but unfortunately, it is not. It is very difficult. My work has been trying to simplify the integration process because integrations bring a lot of value. Most companies don't see their value because it is such a difficult process. For integration, you have to get it right as well, but it is very difficult to get it right because they don't help you in tuning your future parameters. Because of this, it is very difficult to tune your future parameters and your risk score. If you are Uber, your risk score will be very different from a banking client that is pushing funds. These two things need to be improved for me. The rest is pretty good.""The interface does look a bit outdated.""It would be useful if they could offer real-time processing.""One limitation is it only maintains six months' worth of data. It would be nice if it went back even further to help us really identify and flush out patterns that go on longer.""We are only using one feature. We haven't found the other features to be very good or very powerful.""We encountered a few issues with API calls to the solution.""Could be more intuitive and user friendly."

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Pricing and Cost Advice
  • "The SaaS model that we pay is what I know the cost for, and it's reasonable. It's about just under $1,000 or something per month. There is a certain number of users that you get free."
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  • "I am not aware of the price. I have always come in after it has been negotiated. The clients do get a return on their investment. It mitigated a massive DDoS, and it definitely detects fraudulent activities on banking platforms. They have definitely got their ROI back because there is continued investment in ThreatMetrix over time."
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    Top Answer:The pricing could be lower. We are a young company. Maybe for big enterprises, price doesn't matter. However, for young companies, price-wise, it's not that good. It's a bit pricey. You also have to… more »
    Top Answer:The solution needs upscaling in terms of interface. It could be intuitive.
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    Overview

    The balance between best experience and least fraud is tough to find. Too much risk means fraud and chargebacks that can hurt your bottomline. Too much security means fewer customers and more unhappy customers. What’s the balance for the best online fraud detection? Knowing who’s on the other end of the transaction is the best start, and IdentityMind helps you get there.

    IdentityMind lets you see who’s on the other end of the transaction so you can identify the good guys you want to do business with and the bad guys that you want to avoid. And, using digital identities powered by eDNA™ technology, you can get a more accurate picture of risk to enable better customer selection and fewer rejections of good customers. eDNA leverages machine learning to build trusted digital identities and analyze identities for the most accurate reputation score (risk profile) possible. Our algorithms provide reputations for each entity tailored for the industry in which you do business. And, we enable you to modify your risk process on the fly, adding in additional checks where merited.

    ThreatMetrix Digital Identity Network constantly identifies fraudsters from trusted customers by analyzing more than 850 transactions each second of every day. It defends against data breach and credential testing from bots designed to mimic human behavior and evade detection by web application firewalls and integrates fraud and risk data across the enterprise with behavioral information on more than 1.4 billion digital identities for smarter, faster and better risk decisioning.
    Sample Customers
    Veem, Mercari, Fundbx, Binance, Huobi, Mezu, Montual
    Trip Advisor, Stone Hub, TD Bank, Rabobank, GoPro
    Top Industries
    No Data Available
    VISITORS READING REVIEWS
    Financial Services Firm43%
    Computer Software Company12%
    Insurance Company6%
    Retailer5%
    Company Size
    No Data Available
    VISITORS READING REVIEWS
    Small Business15%
    Midsize Enterprise7%
    Large Enterprise78%
    Buyer's Guide
    Fraud Detection and Prevention
    March 2024
    Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention. Updated: March 2024.
    765,234 professionals have used our research since 2012.

    IdentityMind is ranked 49th in Fraud Detection and Prevention while ThreatMetrix is ranked 2nd in Fraud Detection and Prevention with 7 reviews. IdentityMind is rated 8.6, while ThreatMetrix is rated 8.2. The top reviewer of IdentityMind writes "Great third-party integrations, very stable and easy to set up". On the other hand, the top reviewer of ThreatMetrix writes "Stable with a good interface and offers excellent event reports". IdentityMind is most compared with , whereas ThreatMetrix is most compared with BioCatch, FICO Falcon Platform, Featurespace ARIC Fraud Hub, iovation FraudForce and IBM Trusteer.

    See our list of best Fraud Detection and Prevention vendors.

    We monitor all Fraud Detection and Prevention reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.