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American Express Buys InAuth to Boost Digital Security
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With continued focus on fraud prevention in e-commerce, American Express Company (AXP - Free Report) acquired Boston, MA-based mobile device authentication and intelligence solutions provider, InAuth, Inc.
American Express, as part of its fraud management capabilities, already uses InAuth’s technology. The latest acquisition follows an investment in InAuth, made earlier this year, by a strategic investment wing of American Express.
InAuth, founded in 2011, helps clients in identifying risks and reduce fraud in their digital channels. Its device authentication technology facilitates clients to evaluate the potential risk tied with varied digital transactions, including customer logging into their account on web browser or a mobile app or purchasing from a merchant’s website. Several large financial institutions, payment networks, banks and merchants use InAuth’s technology.
In its release, American Express highlighted that with increase in online transactions, risk of fraud has also increased. The NY-based company noted that the acquisition not only complements and boosts its data analytics and fraud prevention capabilities, but also well positions the company to tap opportunities as more consumer activity (from payments to account origination and servicing) shifts to digital channels.
American Express shares have gained 4% year to date, outperforming 2.4% growth for the Zacks categorized Miscellaneous Financial Services industry. Though the company remains well poised for growth on the back of its solid market position, strength in card business and significant opportunities from the secular shift toward electronic payments, some of the key concerns include high loan loss provisions and intense competition.
Vantiv, Inc. : Over the last 60 days, the Zacks Consensus Estimate for the current year advanced 1.2% to $2.57. The company carries a Zacks Rank # 2 (Buy).
WEX Inc. (WEX - Free Report) : The Zacks Consensus Estimate for the current year climbed 5.5% to $4.24 over the last 60 days. The company also carries a Zacks Rank #2.
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American Express Buys InAuth to Boost Digital Security
With continued focus on fraud prevention in e-commerce, American Express Company (AXP - Free Report) acquired Boston, MA-based mobile device authentication and intelligence solutions provider, InAuth, Inc.
American Express, as part of its fraud management capabilities, already uses InAuth’s technology. The latest acquisition follows an investment in InAuth, made earlier this year, by a strategic investment wing of American Express.
InAuth, founded in 2011, helps clients in identifying risks and reduce fraud in their digital channels. Its device authentication technology facilitates clients to evaluate the potential risk tied with varied digital transactions, including customer logging into their account on web browser or a mobile app or purchasing from a merchant’s website. Several large financial institutions, payment networks, banks and merchants use InAuth’s technology.
In its release, American Express highlighted that with increase in online transactions, risk of fraud has also increased. The NY-based company noted that the acquisition not only complements and boosts its data analytics and fraud prevention capabilities, but also well positions the company to tap opportunities as more consumer activity (from payments to account origination and servicing) shifts to digital channels.
American Express shares have gained 4% year to date, outperforming 2.4% growth for the Zacks categorized Miscellaneous Financial Services industry. Though the company remains well poised for growth on the back of its solid market position, strength in card business and significant opportunities from the secular shift toward electronic payments, some of the key concerns include high loan loss provisions and intense competition.
American Express carries a Zacks Rank #3 (Hold).
Stocks to Consider
HomeStreet, Inc. (HMST - Free Report) : Over the last 60 days, the Zacks Consensus Estimate increased 17.3% for the current year to $2.91. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Vantiv, Inc. : Over the last 60 days, the Zacks Consensus Estimate for the current year advanced 1.2% to $2.57. The company carries a Zacks Rank # 2 (Buy).
WEX Inc. (WEX - Free Report) : The Zacks Consensus Estimate for the current year climbed 5.5% to $4.24 over the last 60 days. The company also carries a Zacks Rank #2.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>