Experian released Precise ID for Customer Management, another product in its Precise ID portfolio of authentication and fraud detection services. This product adds more layers to its identity fraud detection capabilities in existing accounts.
“In today’s challenging credit environment, fraudsters are attacking organizations from many different angles. These strategies include using stolen identities to fraudulently establish new credit relationships or taking over existing accounts,” said Charles Chung, president of Decision Analytics North America at Experian.
Precise ID for Customer Management incorporates a point-in-time fraud risk assessment to an account’s recent activity. It evaluates and scores identities and identity-related information against an identity transaction network to present current identity usage and calculate possible fraud threats. Nearly two million identity transactions are added to this network everyday to give client up-to-date information.
Experian also enhanced the product’s scoring feature to allow clients to segment accounts into various risk levels. Added granularity in predictive attributes gives reviewers additional tools for more efficient evaluation and batch processing.