COSTA MESA, Calif. - As fraud threats continue to evolve Experian is doing its part to help financial institutions stay one step ahead with the launch of Precise ID. Designed with flexibility in mind, the new fraud management platform combines a mix of fraud fighting and identity authentication tools to provide an accurate snapshot of each applicant. Precise ID models and decision strategies can also be customized and modified to fit changing needs and fraud patterns. According to Experian, a single inquiry will access cross-industry shared application data, credit records, demographic and publicly available data. Sophisticated analytics classify and score potential fraud, and recommend the most effective, efficient treatment. In addition, members of Experian's National Fraud Database (NFD), a repository of known and verified fraud records, can access fraud data contributed by other NFD members. This data has been verified as fraudulent, and the fraud type is categorized to determine best prevention treatment.
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