ID Analytics releases online fraud prevention capabilities

ID Analytics released an enhanced version of ID Score, an identity fraud risk score. This latest version introduces a breakthrough in fraud protection for transactions submitted over the Internet. ID Score now leverages critical online identity elements to further reduce identity fraud within the online environment, while also significantly improving the customer experience.

In addition to transparently detecting suspicious use of traditional identity information such as names, addresses, Social Security numbers, and phone numbers, ID Score now also identifies high risk online behavior associated with email addresses, IP addresses and their geolocation. By blending online and traditional identity information into a single risk analysis, ID Score provides unmatched accuracy in the detection of online fraud, while at the same time minimizing real-time disruptions to legitimate customer interactions. These improvements enable ID Score users to significantly lower their abandonment rates, increase the number of successful online transactions, and reduce fraud write-offs across their online channel.

With the now-pervasive use of the Internet as a core marketing and customer service channel in virtually every consumer-driven industry, online identity fraud risks have never been greater. Fraud activity within online channels continues to outpace fraud perpetrated through more traditional channels such as phone, mail and in-person. Top-tier financial services companies report that their fraud rate (fraud losses as a percentage of total revenue) for online transactions can be up to 10 times greater than the fraud rate through traditional channels. ID Score can now be used seamlessly across both online and offline channels, greatly simplifying identity fraud prevention efforts.