What is the most poweful and accurate fraud detection tool that creditors fail to use? The answer is easy: it's the American consumer. No one can more accurately determine if an identity is being misused than the legitimate owner—the consumer. And no one has more incentive to prevent fraud before it starts than the consumer. Up until now, the greatest challenge has been to integrate consumers early into the fraud detection process—at the precise point when fraud is likely to start. Imagine how much more effective your fraud detction system would be if it could leverage the vigilant eyes of millions of consumers early in the process.
With our new identity monitoring capabilities, ID Analytics has bridged this gap with what we call the "Network Effect." We have forged a real-time link between consumers and our ID Network® clients to detect and stop fraud. Today, over two million consumers are monitoring the use of their personal information in credit transactions. The results are reverberating across fraud departments—they now see new "consumer-verified" fraud cases that help prevent real losses down the road.
ID Analytics Names Chief Information Officer
Rob Benson has joined the company as its Chief Information Officer bringing with him more than 25 years of industry experience in leading operations teams for large and small organizations. "Rob is responsible for the leadership of our Project Management, Customer Operations, Information Technology, and Information Security teams," said Bruce Hansen, Chairman and CEO, ID Analytics, Inc. "With his deep background in P&L management, operations, and technology leadership, he is well equipped to lead our teams through the next phase of dynamic growth, including the development of new technology and software solutions, and customer implementations." |
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As millions of Americans flock to theaters to see "The Social Network," millions more are exposing their identities and potentially critical financial information on popular social networking sites. According to the 2010 Social Network Fraud Survey of 1,013 U.S. adults, conducted via telephone by Harris Interactive® on behalf of ID Analytics, Inc. this month, more than 24 million Americans age 18 or older leave their social network profiles mostly public.
Millions more expose key pieces of identity information including date of birth, birthplace, and even current and previous addresses. Nearly 70 million U.S. adults on social networking sites share their birthplace on their profiles. Birthplace is one of the most common "security questions" asked by financial institutions to verify someone's identity.
Identity RiskID Analytics Secures Patent for Identity-Based Fraud Detection for Transactions Using Historical Identity Records |
Credit RiskLooking at a 360-degree View of a Consumer |
GovernmentTransforming Government Data Breach Response |
The U.S. Patent and Trademark Office granted the issuance of U.S. Patent Number 7,793,835 to ID Analytics' for the system and method for identity-based fraud detection for transactions using a plurality of historical identity records.
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As financial institutions reinvigorate their lending programs in 2011, they are proceeding with caution- drawing upon new learnings gained over the last two years. Greater diligence will be placed on performing 'stress testing' portfolios...
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When a breach of personal information occurs at a government agency, agency executives need to quickly assess the scope and risk associated with the incident. With an accurate assessment of the incident in hand, executives can...
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Counter-Cyclical Regulation: A Perspective on Government Policy
At ID Analytics' recent Advance 2010™ conference, keynote speaker Michael Mandel, the former Chief Economist of Business Week, offered a provocative observation. He argued that in recessionary times, regulators should temporarily abstain from imposing new regulations on businesses to stimulate short term economic growth. He calls this concept "counter-cyclical" regulatory policy. Mandel's theory comes from the observation that policy makers often impose strict new rules on businesses shortly after an industry crisis. The object is to prevent a repeat of the excesses that triggered the downturn. But, if these rules are imposed while the economy remains fragile, the targeted businesses are often ill-equipped to address them. Complying with new regulations typically involves financial costs and a diversion of business resources. Mandel argues we all would be better off if businesses had a short-term regulatory reprieve to strengthen their own balance sheet and thus the overall economy. |
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January 2, 2011 December 3, 2010 October 13, 2010 |
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ID Analytics and Clarity Expand Partnership to Help Organization Bolster Fraud Detection Systems
ID Analytics, Inc., a leader in consumer risk management, and Clarity Services, Inc., a consumer reporting agency, have expanded their relationship to deliver solutions that fine tune fraud risk decisioning for underbanked consumers. The two companies partnered in 2008 to offer Clarity's Clear ID Fraud™ powered by ID Analytics' ID Score® Action to provide organizations with unique visibility into the fraud risk of consumers, including the underbanked. Building upon that success, Clarity now offers ID Analytics' ID Network® Attributes™, a solution that strengthens organizations' fraud detection systems with insight based on information within the ID Network—the nation's only real-time cross-industry compilation of identity information. |
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