AdmitOne Security Unveils Scout for Revenue Optimization
New Hosted Service Helps Online Information Providers
Maximize Revenue through Account Sharing Analytics
Seattle—November 17, 2008— AdmitOne Security (formerly BioPassword), the leading innovator of solutions for preventing the fraudulent use of digital identities, today announced the general availability of AdmitOne Security Scout, a new on-demand account sharing analytics solution. AdmitOne Security Scout identifies account usage patterns to optimize the subscription revenue. AdmitOne Security Scout has already provided numerous online information providers unique insights into account sharing amongst member agents and the necessary information to implement focused remediation.
To date, online information providers have had only two choices in tackling revenue loss in their subscription models – employ multi-factor authentication for all users or ignore it all together. The “trust no one” option is not only costly but can inconvenience trusted users with additional security procedures and restrictions. The “ignore it” option allows some users to defraud the service by sharing their credentials in order to avoid subscription fees. AdmitOne Security Scout is a monitoring and analytics service that gives an online information provider a new option: an ability to identify and remediate account sharing without inconveniencing trusted users.
AdmitOne Security is the first and only provider of analytics that can determine which online accounts are being shared and by how many different people.
“Online information providers have lacked the needed evidence to identify and make decisions about shared accounts and revenue optimization,” said Matthew Shanahan, senior vice president of marketing and strategy at AdmitOne Security. “Scout takes the guess work out of identifying account sharing and allows organizations to identify the scope and scale of revenue loss; analyze alternative subscription models; and implement focused, effective remediation.”
Based on the profiles from initial online information provider deployments, AdmitOne Security Scout identified more than 12% of online accounts as being shared with at least 15% more individual user accounts than licensed accounts. With AdmitOne Security Scout, these organizations have the potential for an immediate boost in revenue while maintaining a strong brand and relationship with their customers.
According to Scott Donahue, principal at TripleTree, a research-based investment bank that focuses on the Software as a Service (SaaS) market, “While TripleTree tracks nearly 1,800 SaaS vendors across all domains and verticals, SaaS security is emerging as a critical aspect of overall business protection, and revenue integrity is an important component of this.”
The service utilizes multiple layers of in-session data including network information, device information, and even distinct behaviors of users to build a profile of account use. From the rich set of in-session data, AdmitOne Security Scout is able to identify a broad range of anomalies that would indicate account sharing at various degrees of confidence. By reporting and monitoring anomalies associated with each online account, AdmitOne Security Scout is able to detect account sharing and the number of different individuals sharing the account.
Because AdmitOne Security Scout works without requiring users to carry additional hardware or remember additional information, the service causes no disruption to users. As a hosted service, AdmitOne Security Scout requires no on-premise hardware or software. After monitoring begins, Scout immediately identifies account sharing within the subscriber base. AdmitOne Security Scout delivers rich graphical reporting capabilities to allow account managers and security personnel to monitor and act on anomalies, which may indicate potentially fraudulent activity.
“Account monitoring and analytics is the logical first step for an MLS organization,” said Don Hull, chief executive officer at Greater Fairfield County CMLS. “We initially looked at a number of technologies for improving our security posture. We found the AdmitOne technology to give us the best possible ROI, and it did so without inconveniencing our members.”
Availability and Pricing
AdmitOne Security Scout is available now with options for a 3-month assessment or annual monitoring. For more information, please contact firstname.lastname@example.org.
About AdmitOne Security
AdmitOne Security (www.admitonesecurity.com), located in Issaquah, Washington, is a venture-backed software company providing hosted and on-premise solutions for preventing fraudulent use of digital identities. AdmitOne is currently delivering authentication and fraud detections solutions for organizations in a variety of industries, including: financial, SaaS providers, government, healthcare, manufacturing, legal and automotive. To learn more, visit www.admitonesecurity.com or call (425) 649-1100.
AdmitOne Security® is a registered trademark of AdmitOne Security, Inc. All other trademarks and registered trademarks are the property of their respective owners.