San Diego, CA ? ID Analytics, Inc., the Identity Risk Management company, and Qsent, Inc., a leading service provider of precise identity contact information for financial services, today announced a licensing agreement that will augment ID Analytics? detection and prevention of identity fraud during consumer credit approval and throughout the customer lifecycle.
Validating the identity of a valued customer or best prospect before a credit authorization?and continually across all customer events that pose an identity risk?better ensures that the applicant is who they say they are. Using first level screens of identity and risk assessment tools provides a means for financial service companies to build trusted customer relationships, speed the approval process, prevent economic crimes and realize a good return on their investment.
?Companies building new relationships with consumers are increasingly challenged to balance profit potential against identity risk,? said, Bruce Hansen, ID Analytics chairman and CEO. ?With the addition of Qsent?s precise contact information designed for identity validation, we can improve our customers? ability to manage that risk and avoid financial loss.?
ID Analytics Provides Complete Identity Risk Management. ID Analytics provides advanced analytic solutions built from the start to manage identity risk and prevent identity fraud across the customer lifecycle. When an event occurs where the associated identity poses a risk, that risk is quantified with an ID Score™, ID Analytics? empirically-derived scoring algorithm that segments events into risk segments for optimized handling. ID Analytics then applies leading-edge optimization technology to accurately determine which applicants and customers to subject to further scrutiny, as well as how to best authenticate an identity. Qsent supplements this capability by providing ID Analytics with a dynamic database of 150 million individuals and businesses that are updated on a daily basis to provide real-time response to an identity inquiry and validation.
?ID Analytics has quickly built a reputation as the premier company in Identity Risk Management, and we at Qsent are proud to associate our services with the ID Analytics team,? commented, Patrick Cox, chairman and CEO. ?Qsent believes that a financial institution needs to know with certainty who their customer is before a trusted beneficial relationship can be built. Qsent and ID Analytics together can help to build that trust.?
Qsent Precise Contact Information Helps Validate Identity in Real-Time. Qsent Precise contact information, aggregated from over 700 telephone companies’ directory service-based records is a dynamically updated database representing 150 million residential and business listings nationwide. Each night, over 1 million updates are received that, after cleansing and validation, result in over 250,000 material changes available to Qsent customers the next business day. This real-time database of name, address and phone numbers provide a proven identification standard for identity and risk assessment applications by quickly answering the question: Is this customer who they say they are? Qsent Precise contact information services will assist ID Analytics in first level screens of identity, in validation of identity during the credit approval process, and in support of ID Analytics identity scoring and fraud detection technology.
About ID Analytics, Inc.
ID Analytics is the Identity Risk Management company providing advanced analytic solutions that prevent identity fraud and manage identity risk across the customer lifecycle. ID Analytics’ intelligent ID Network, the first and only real-time national network built exclusively to manage identity risk, coupled with its optimization technology, makes it possible for companies to balance profit against identity risk. The ID Network is already used daily by over half the credit and retail card issuer market in the U.S., as well as leading wireless and online consumer finance companies. Founded in 2002 and based in San Diego with offices throughout the U.S. and in the U.K., ID Analytics is led by an executive team with strong fraud analytics experience.
About Qsent
The Qsent service provides definitive contact information for applications where precision and timeliness are of high strategic value. Qsent solutions for the financial services industry include identity and risk assessment, collections and recovery, and customer development tools. Using Qsent services, companies improve their ability to locate, contact, verify and trust their valued customers and best prospects in order to achieve their business and revenue goals. Qsent is a privately-held corporation headquartered in Portland, Oregon. For more information, please visit Qsent website at: www.qsent.com.
