Dedicated unit launches Big Data fraud service for breach and identity compromise detection
At the start of the Vision 2015 Conference, Experian® announced a new dedicated enterprise Fraud and ID business in North America. This newly established business unit allows Experian to more aggressively address the growing variety of fraud risk and identity management challenges businesses, financial institutions and government agencies face.
Having one comprehensive operation allows Experian to deliver greater value across its various addressable markets through customized approaches that balance privacy, security and compliance requirements with client reputation, customer experience, convenience and efficiency. The integration brings together a wide set of enterprise services ranging from identity and device risk assessment and anti–money laundering to consumer identity monitoring and alerts, letting Experian continue to proactively meet client needs surrounding the complex risks they face. Dr. Jon Jones has been appointed to lead the new business unit as senior vice president and general manager of Fraud and ID for Experian North America.
Accounting for the real risk of identity compromise over time continues with the launch of Experian’s Identity Element Network(SM) which identifies real-time fraud volume and velocity linkages across multiple industries to predict when consumers are showing risk of identity compromise. Experian monitors and predicts when seemingly random identity element linkages become meaningful risk clusters, including:
- When an identity likely has been compromised
- When an identity is victim of a data breach
- When a transaction is part of an identity theft scheme, particularly an account takeover
- When consumers’ identities are exhibiting identity theft, visible by monitoring a broad portfolio of breached or compromised consumers
Experian’s Identity Element Network service can be utilized through its flagship fraud enterprise platform, Precise ID®, using its data assets and analytics alongside 41st Parameter’s FraudNet to deliver a comprehensive view of the Customer Life Cycle of traditional identity, device confidence and risk assessment. To read the full story click on the link below.
Source: Experian
