ID Analytics - Linkages Newsletter

New Risks Drive Need for Better Credit Decision Making
The outlook for the economy continues to be discussed broadly in the media, board rooms and hallways of corporate America. Uncertainty may reign supreme, however, businesses must work through the current market conditions if they hope to achieve longer term business and growth objectives. With a restrictive credit market, priorities shift–but the business of lending does not stop. Until recently, capital was readily available and the focus was on the competitive challenges of servicing consumers who expect convenient, accessible credit. The tightening credit market is dictating the return to greater scrutiny around the decision making policies, processes, and tools for extending credit.

In today's challenging financial environment, lenders are looking for innovative ways to analyze the changing credit worthiness of both existing and prospective customers. Traditional credit scores determine credit risk by predicting an individual's willingness and ability to repay debt based on historical credit usage and payment patterns. ID Analytics^® Credit Optics™ brings to the market a unique, third dimension to this analysis–real—time visibility into the stability of that individual's identity. Read more...

5 Tips for Reducing Operating Expenses Without Impacting Operations
Businesses can leverage on-demand identity intelligence solutions to cut operational expenses and curb fraud losses. Consider the following cost-saving tips:

Tip #1: Crack down on fraud costs
Tip #2: Add online identity elements to fraud surveillance for even greater savings
Tip #3: Reduce risk while streamlining the credit account booking process with supplemental identity-centric credit analytics
Tip #4: Automate Red Flag Rule Compliance
Tip #5: Wireless service providers must be particularly alert to threats from internal data theft

Read more...

On-Demand Identity Intelligence
Businesses and consumers are facing an entirely new genre of risks, due in large part to the quantity of consumer transactions that are now real time and remote. The reliance on consumer identity information to enable 'customer not present' transactions has put the consumer's need to protect their identity at odds with a business's need to make instantaneous, yet sound, customer decisions. A new generation of identity intelligence solutions helps organizations meet the challenges of accurately assessing... Read more...

ID Analytics Pioneers Industry-First Online Fraud Prevention Tool
ID Analytics introduced the industry's first online fraud prevention solution, which enables companies to reduce charge-offs from online transactions and increase the number of successfully completed online transactions. It also dramatically improves the customer experience for online shoppers by minimizing disruptions to legitimate purchase interactions. This, in turn, helps significantly lower purchase transaction abandonment rates during the checkout process.
Read more...

Red Flag Rules Update: Postponement Should Not Delay Compliance Plans
When the Federal Trade Commission (FTC) recently announced a six-month suspension of Red Flag Rule enforcement, many executives breathed a sigh of relief. Some compliance officers may now be tempted to take their Red Flags folders off their desks and put them into storage. It may be best, however, to keep those folders right where they are.
Read more...

ID Analytics Takes Credit Scoring Analytics to Next Level
ID Analytics Credit Optics is a new supplemental credit score that delivers an innovative dimension to the assessment of the credit worthiness of individuals. ID Analytics Credit Optics improves credit decisions by garnering insight from information that is not typically included when calculating a traditional credit score. Organizations can immediately reduce losses by combining traditional credit scores with ID Analytics Credit Optics to fine-tune credit decision processes.
Read more...

November 12, 2008: Credit Union Information Security
ID Theft Red Flags Rule: FTC Extension is no 'Break'

October 27, 2008: Wireless Week
Watch Out for Red Flag Rules

October 13, 2008: Federal News Radio
Opposites Attract

For more information on ID Analytics news, click here.

October 31, 2008: San Diego Business Journal
AeA Recognizes Top-Notch Technology

October 10, 2008: Press Release
Deloitte's San Diego Technology Fast 50 Ranking of Fastest Growing Companies

For more information on the awards ID Analytics has been recognized for click here.

Tips for Red Flag Rules Compliance
The FTC is taking the Red Flag Rule regulation so seriously, it recently pushed back the original November 1, 2008 deadline to May 1, 2009, to give some creditors additional time to implement written identity theft prevention programs. Given the enforcement delay, creditors should expect the FTC to have zero tolerance for non-compliant programs come May 1st. Read more...

ID Analytics in Production with Leading Financial Institutions Through VISA USA Partnership
VISA USA and ID Analytics recently renewed their partnership agreement to jointly deliver a solution that enables financial institutions to better identify and stop fraudulent debit and credit card applications. Through the partnership, Visa provides its members with an FCRA-actionable customized version of the market-leading ID Score. Read more...