2020-10-19T09:33:42Z
Miriam Tover - PeerSpot reviewer
Service Delivery Manager at PeerSpot (formerly IT Central Station)
  • 0
  • 22

What advice do you have for others considering ThreatMetrix?

If you were talking to someone whose organization is considering ThreatMetrix, what would you say?

How would you rate it and why? Any other tips or advice?

6
PeerSpot user
6 Answers
NB
Operational Risks Specialist at TBC Bank
Real User
2022-10-27T13:12:00Z
Oct 27, 2022

We are customers and end-users. I'd rate the solution nine out of ten. I've been satisfied with its functionality.

Search for a product comparison
SB
Lead Android Developer at a financial services firm with 10,001+ employees
Real User
2020-11-22T18:06:21Z
Nov 22, 2020

I'm not sure which version of the solution we are using. It may be some variation of version five. The solution in terms of implementation is pretty good and it can be a fairly simple deployment. It seems complex at first, however, it's very, very simple and the documentation is fairly good. That said, we thought we would be getting more benefit and only later realized some areas are not as robust as we had thought. In terms of our requirements for device detection, I'd rate the solution a nine out of ten.

BR
Product Owner at a tech services company with 51-200 employees
Real User
Top 10
2020-11-17T01:26:01Z
Nov 17, 2020

ThreatMetrix seems like a fairly complete solution. Because of the rise of mobile, we were moving to a mobile based lending product. Given that fact there was a concern that there was a new vector for attack and that's what we wanted to protect ourselves against. It's important to understand your use case very clearly. I think the challenge we had was the understanding that this was a capability that we needed, but we were not particularly clear as to how extensively we would use it. That's worth figuring out in advance. You can access the admin console and view performance once it's been implemented. That's worth doing as well as making use of the ThreatMetrix dashboard. One of the things that I learned was just the sheer number of vectors that a potential attacker could use when they access your service, or your platform. That was a whole journey, discovering the many ways attackers can access the system, try to create multiple accounts, and do lots of accessing on servers in hidden locations. The fact that it's actually possible to track that information based on the browser, and based on the user ID, and being able to link that through different devices was interesting. I think device intelligence is still relatively new, and not everyone in the risk team fully understood it. We had a few people who didn't think that it provided much value from the outset, and getting them on board was more challenging. It slowly improved over time, as we became more embedded in part of the credit check, primarily by the credit risk team. It was used more to identify, to ensure that people are who they say they are, and they're contacting from devices that we know to be safe and secure. I would rate this solution a seven out of 10.

JB
Senior Manager at Allstate
Real User
2020-11-16T17:44:00Z
Nov 16, 2020

We're using the web version. I'm not aware of if they have multiple versions. I would recommend the solution to others. I would tell potential users that it's important to provide ongoing feedback to ThreatMetrix as to the outcomes. That will help them further refine the tool. If you don't have a commitment to providing the feedback loop, my guess is it would be less successful. One of the reasons we've had success is that we've been providing information back on the outcomes, which helps them fine-tune the model and improve on it from that perspective. Overall, I would rate the solution ten out of ten. We've had a very good experience using it.

TG
Payment Solutions Architect at a computer software company with 11-50 employees
Real User
2020-11-12T14:44:15Z
Nov 12, 2020

I would suggest that a potential new customer that's in the market for such a product get quotes from the top three or four players. These would be ThreatMetrix, Kount Retail Decisions, eCertify, and CyberSource. Those are the main fraud assessment platforms that I'm aware of. Fraud assessment is a good thing for merchants to implement. Fraud, in general, in the transaction processing space, is a big issue and becoming larger as the years go by. I would advise merchants to do engage with such fraud assessment tools as ThreatMetrix. Overall, I would rate the solution seven out of ten. It's not a higher ranking due to the fact that the integration has limitations with other vendors like Credit Card Gateway. Some of these things may change over time, however, the other products that I mentioned have more integration options with other vendors, and therefore that would be a limitation ThreatMetrix.

DO
Senior Architect at Naakuu Ltd. UK
Real User
2020-10-19T09:33:42Z
Oct 19, 2020

I would say to definitely consider it at a design stage, or at least to have an extensive sandbox where you can set it out. The major thing is integration into your current system and also false positives from poorly configured systems. If you actually do have a system that is already running, then definitely look at the integration and look at the knowledge base to understand exactly what it takes and how do they integrate. It is not just integrating the SDK or the API in the product; it is understanding the massive parameters that you can tune. ThreatMetrix helps you with that aspect, but it is really up to you to tune them for your application on your platform. If they are not tuned properly, you would definitely get into trouble because you have started flagging up false positives, which you don't want to do. I would rate ThreatMetrix an eight out of ten. It needs a few improvements, but it is definitely good.

Find out what your peers are saying about ThreatMetrix, IBM, iovation and others in Fraud Detection and Prevention. Updated: November 2022.
657,849 professionals have used our research since 2012.
Related Questions
Miriam Tover - PeerSpot reviewer
Service Delivery Manager at PeerSpot (formerly IT Central Station)
Oct 27, 2022
Please share with the community what you think needs improvement with ThreatMetrix. What are its weaknesses? What would you like to see changed in a future version?
2 out of 6 answers
DO
Senior Architect at Naakuu Ltd. UK
Oct 19, 2020
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.
TG
Payment Solutions Architect at a computer software company with 11-50 employees
Nov 12, 2020
I'm not sure if I could answer questions about limitations accurately. Our implementation of it could definitely have used some improvement, however, that was a limitation on our part rather than on the part of the product. The initial setup is a bit difficult. During our implementation, we chose not to do a real-time integration. The integration was more of a batch asynchronous process. That could have been improved to make it more real-time. I'm not aware of any areas in which the product needs to be improved. The solution could be more powerful. It would be useful if they could offer real-time processing. There could be more features similar to what eCertify offers.
it_user434868 - PeerSpot reviewer
Senior Director of Delivery at a tech services company with 51-200 employees
Oct 27, 2022
Hi Everyone, What do you like most about ThreatMetrix? Thanks for sharing your thoughts with the community!
2 out of 6 answers
DO
Senior Architect at Naakuu Ltd. UK
Oct 19, 2020
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.
TG
Payment Solutions Architect at a computer software company with 11-50 employees
Nov 12, 2020
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.
Download Free Report
Download our free Fraud Detection and Prevention Report and find out what your peers are saying about ThreatMetrix, IBM, iovation, and more! Updated: November 2022.
DOWNLOAD NOW
657,849 professionals have used our research since 2012.