London, UK., March 18, 2010 - 41st Parameter Inc., the leading provider of online cross-channel fraud detection and prevention solutions, today announced that David Walker has joined its executive management team as Senior Vice President of Sales. David Walker assumes responsibility for 41st Parameter's global field operations at a time of accelerating multi-national deployments by existing clients, as well as growth in overall market demand for effective and durable web fraud prevention solutions.
FraudNet, 41st Parameter's suite of cross-channel fraud detection and prevention solutions has proven uniquely effective at detecting fraud ring activity and stopping multiple forms of online and offline theft. FraudNet customers report an average review rate 80 per cent below industry standard, while simultaneously reducing fraud losses and improving the customer experience. Corporations currently realising bottom line savings using FraudNet include four of the top five U.S. airlines, multi-national financial services institutions and over 120 cross-border online merchants.
David Walker's career encompasses over twenty years of sales management experience in online security, software development and vertical business management software. Most recently, he served as Senior Vice President of Business Development for Solidcore Systems, the leading provider of change control software acquired by McAfee in 2009. Earlier in his career, David Walker was one of VeriSign's first enterprise sales employees, building the 60-person enterprise sales team that grew revenue from $2 million to $45 million in 5 years while simultaneously increasing average deal size by 600 per cent.
"David is a strategic addition to our executive leadership team, bringing a history of success in building high-performance sales teams across all geographies," said Pete Selda, President and Chief Executive Officer of 41st Parameter. "David's demonstrated ability to attract sales talent and deliver results will accelerate 41st Parameter becoming the dominant global brand in fraud prevention."
41st Parameter's solutions for detecting and preventing fraud include FraudNet, the most comprehensive solution for fraud prevention and risk management including unauthorised account access, new account opening and transaction fraud; DeviceInsight (formerly PCPrint), the industry's foremost and most advanced device intelligence solution and the only patent-pending sensitive data masking technology available, ImageMask.
"Preventing online fraud within and across channels is a dynamic high-stakes challenge facing every company transacting on the Internet today," said David Walker. "I was impressed with 41st Parameter's portfolio of proven products and the results being achieved by 41st Parameter's customers. I am confident that the company's innovative solutions, unique risk expertise, and overall commitment to fighting fraud position us to maintain our leadership in the global marketplace."
About 41st Parameter
41st Parameter provides solutions for detecting and preventing fraud across multiple channels for the world's most valued and recognizable brands. Leading financial institutions, e-commerce companies, and travel services businesses rely on 41st Parameter's technology to protect them from cybercrime threats including card not present fraud, new account origination fraud, phishing and account compromise, credit bust outs, and fraud ring attacks. Founded in 2004, 41st Parameter makes the process of detecting and preventing fraud easier and more effective, reducing both expenses and potential losses. As a leading web fraud detection innovator the company supplies industry-proven solutions which integrate advanced device identification with comprehensive risk management capabilities. To learn more about 41st Parameter, visit www.the41st.com
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