How We Compare
The hardest part of any Red Flag Rule program is resolving flags identified. A recent study of 700,000 applications for credit found that over 33% triggered one or more flags. ID Analytics for ComplianceTM, with its capacity for automatically resolving flags, can minimize the burden of Red Flag reviews.
Here's a further description of how we can help your company comply:
|Red Flag Rules Requirement||ID Analytics for Compliance|
|Identify Red Flags
Creditors must identify Red Flags relevant to their organizations.
|Evaluates more than 100 identity risk variables including 30 Red Flags specifically for compliance.|
|Detect Red Flags
Creditors must detect Red Flags during the ordinary course of business.
|Interprets application velocity, information validity, and associations with reported frauds in real time or in batch.|
|Respond to Red Flags
Creditors must evaluate and resolve detected Red Flags.
|Automatically resolves flags for low-risk identities. Delivers specific Red Flags to creditors in order to focus review efforts and lower costs.|
|Update Red Flag Program
Creditors must update their compliance program to reflect changes in risk.
|Advanced AnalyticsSM are periodically updated to capture evolving fraud tactics.|