ID Analytics Enhances Identity Database for CNP Fraud Fighting
March 21, 2013
Risk management firm ID Analytics this week launched a service that will provide e-commerce and other businesses with information that will enhance their antifraud efforts. The San Diego-based company said its ID Network Attributes will enable underwrites to be more accurate and efficient in sniffing out card-not-present fraud. The service will be backed by a consumer database it said “covers nearly 100 percent of the U.S. adult population” and will capture consumer behaviors missed by other antifraud software.
“In today’s challenging credit environment, financial institutions need to assess not only the credit worthiness of applicants but also the risk of fraud at issuance and throughout their relationship,” said Jason Malo, research director at CEB TowerGroup, in an ID Analytics press release. “Fraud management strategies must be informed by an understanding of identity at a level of granularity beyond the individual, to include the history of singular attributes they use to identify the person.”