News Releases
AMS AND ID Analytics to Help Government Clients Fight Fraud
Combination of Software Solutions and Know-How Will Combat Growing Identity Theft Crisis
FAIRFAX, Va., and SAN DIEGO, Calif., December 15, 2003–American Management Systems, Incorporated (NASDAQ: AMSY), a global business and IT consulting firm, and ID Analytics, Inc., an Identity Risk Management technology company, today announced an alliance to offer comprehensive anti-fraud solutions to government agencies at all levels. According to the Federal Trade Commission, 27.3 million US consumers have been victims of identity theft in the past five years.
Under the terms of a reseller agreement, AMS will offer ID Analytics' flagship pattern recognition technology solution, the ID Score™, in combination with AMS consulting services and IdenticateSM, the AMS identity authentication solution (patent pending). The combination will provide federal, state and local government with a more powerful tool to detect and prevent identity theft and related fraud on tax returns, benefits payments, identification, and transportation security credentials. This approach will fight identity fraud by alerting officials to possible fraud at the point of application, rather than relying on post-detection flagging of unusual activity.
"AMS and ID Analytics have both been early leaders in helping financial services institutions reduce identity theft and related fraud," said Dennis Behrman, analyst, Financial Insights/IDC. "The combination of these solutions, backed up by AMS's grasp of process and business consulting, will help enable governments to protect the public trust."
Identicate is an electronic verification and identity fraud service currently used by federal and state agencies to validate the identity of applicants for drivers' licenses and other forms of identification. The service generates a series of questions that, when answered correctly, verify an applicant's identity. Identicate draws on third-party data to verify applicants' names, Social Security numbers and other personal information, and then allows users to determine whether to confirm or reject the applicant based on their responses. Identicate has authenticated more than 500,000 identities in the last 12 months.
"ID Analytics' ID Score is a great complement to Identicate and our anti-fraud and identity theft consulting services," said Barry Goleman, vice president with AMS's public sector practice. "This is a powerful new tool in our work to help government clients fight identity theft and related fraud."
ID Analytics ID Score is a pattern recognition technology solution that assesses the legitimacy of identity information provided by individuals to find signs of fraud. Underlying the ID Score is a pioneering pattern recognition technology called Graph Theoretic Anomaly Detection® (GTAD™), for which a patent is pending. GTAD dynamically detects unusual patterns based on the identity data elements on an application. The ID Score, which is currently being used by some of the nation's largest credit issuers, has a success rate of identifying 40% of fraudulent applications, above and beyond other fraud detection methods already in use.
"Accurately establishing the identity of an individual is critical in the areas of credential issuance and homeland security," said Bruce Hansen, chairman and CEO for ID Analytics. "AMS has extensive knowledge and leadership in helping governments automate operations through IT to reduce costs and risks. The ID Score coupled with AMS's expertise is a winning combination in the fight against identity fraud."
About AMS
AMS is a premier business and IT consulting firm to the government, financial services, and communications industries around the globe. AMS combines IT ingenuity and industry IQ to drive high-performance results. Known for its delivery and service excellence for more than 30 years, AMS specializes in enterprise resource planning, credit risk management, customer relationship management, and enterprise security. AMS applies both proprietary and partner technologies, and provides solutions through business consulting, systems integration, and outsourcing. Founded in 1970, AMS is headquartered in Fairfax, Va., and has offices worldwide. The company is traded on the NASDAQ National Market under the symbol AMSY. For detailed information about AMS, visit www.ams.com.
About ID Analytics, Inc.
ID Analytics, the leader in Identity Risk Management, provides unprecedented real-time visibility into the risk of individuals, protecting both organizations and consumers. ID Analytics pioneered identity scoring technology and uses Advanced AnalyticsSM and the ID Network®, the nation's only real-time, cross-industry compilation of identity information, to assess risk and improve the customer experience across all consumer touchpoints. Top U.S. communication and financial service companies, as well as major retailers, government agencies and healthcare insurers, all trust ID Analytics to drive new revenue opportunities, eliminate financial losses, and protect their brand reputation with less customer friction.
ID Analytics is a registered trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.