News Releases
ID Analytics Introduces ID Score®–Revenue to Enable Companies to Generate Incremental Growth
Unique Depth and Breadth of Cross–Industry Information Helps Identify New, Profitable Customers with Little or No Credit History
PHOENIX, AZ, October 15, 2007 — ID Analytics, Inc., the leader in Identity Risk Management, today announced ID Score–Revenue, a new solution to help companies expand their customer base by more accurately evaluating the risk of individuals that lack substantial credit histories. ID Analytics made the announcement to senior marketing executives today at the Financial Services Marketing Symposium in Phoenix, AZ. By delivering the unique visibility required to identify profitable customers, ID Score–Revenue enables companies to grow by capturing new revenue opportunities.
ID Score–Revenue uniquely provides the ability to pinpoint desirable customers who may lack credit histories for a variety of valid reasons. By combining Advanced AnalyticsSM with the breadth and depth of information in ID Analytics' proprietary ID Network®, ID Score–Revenue allows lenders to efficiently make more informed decisions and build relationships with new customers.
"A comprehensive thin file scoring strategy requires the ability to distinguish between high-risk fictitious identities and low-risk customers that lack credit histories for a variety of legitimate reasons," said Avivah Litan, VP Distinguished Analyst for Gartner. "Companies are missing growth opportunities if they draw a correlation between individuals with thin or non-existent credit histories and individuals with high-risk credit histories."
Using proprietary Advanced Analytics and the ID Network, ID Score–Revenue helps to expand marketing strategies. Emerging market segments, such as young professionals, are often comprised of individuals with thin or non-existent credit histories. Leading companies can gain a competitive advantage by identifying profitable customers at a point in time when their competitors view these same individuals as high risk.
"Companies are looking for new ways to grow, but are unsure how to focus marketing resources on consumers that have not yet established a credit history," said Larry McIntosh, chief marketing officer for ID Analytics. "Our research has demonstrated that as many as 25 percent of these individuals can become profitable customers. Without the visibility provided by ID Score–Revenue, companies are turning them away."
ID Analytics is an associate exhibitor sponsor at the Financial Services Marketing Symposium in Phoenix, AZ on October 14-16, 2007. The Financial Services Marketing Symposium is unequivocally the marketing event that brings together the best minds in financial marketing to a meeting place where learning, benchmarking and networking begins.
For more information on ID Score–Revenue, visit http://www.idanalytics.com/solutions/revenue.html or email marketinginfo@idanalytics.com.
About ID Analytics, Inc.
ID Analytics, Inc., the Identity Risk Management company, owns and operates the ID Network®, the nation's only real-time, cross-industry source for indentity information. ID Analytics' clients, which are also ID Network Members, span the financial services, telecommunications, e-commerce, healthcare, utility, retail, government, and consumer sectors. With an exclusive focus on stopping identity fraud, ID Analytics has built proprietary pattern recognition technology within the ID Network to find suspicious behavior patterns across multiple organizations and industries. As a result, ID Network Members lead their industries in preventing identity fraud, protecting consumers, and improving the consumer experience. ID Analytics is host of Identity 2007, the sixth annual Identity Risk Management conference Sept. 17-20. With headquarters in San Diego, Calif., ID Analytics has offices in the US and UK.
ID Analytics is a registered trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.