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Experian launches fraud score program for small, midsize firms
New product aims to reduce losses, increase profits, says the Costa Mesa company.
By Ashly McGlonePublished: March 10, 2010 02:02 PM
Costa Mesa-based global information services firm Experian has launched a new predictive fraud score program designed for small and midsize businesses.
The Fraud Shield Score Plus is an alternative to the company's pricier and more multifaceted Precise ID platform. The new program delivers fraud scores in tandem with a consumer credit profile and is aimed at decreasing fake application approvals and increasing efficiency of legitimate approvals.
It is also expected to reduce losses caused by fraudulent activity and increase company profits.
"Fraudsters do not only attack the largest institutions, but they also target smaller institutions that have historically had less-robust fraud defenses," says Hiq Lee, general manager of Experian's fraud and identity solutions group. "It's imperative that organizations of this size implement strategies and tools to combat the mounting attack."
The new program requires little or no changes to current information technology processes. It is ideal for firms that do not currently have the resources to integrate Precise ID into their business platforms, according to the company.
"In bringing Fraud Shield Score Plus to the marketplace, we've expanded our authentication offerings to provide an affordable, yet effective, option for small to midsize organizations that might not be able to leverage Precise ID," adds Keir Breitenfeld, director of product management for the fraud and identity solutions arm.
Experian serves clients in more than 65 countries, helping businesses manage credit risk, prevent fraud and target marketing offers, as well as helping individuals check their credit report and protect against identity theft.
Experian garnered more than $4 billion in revenue last year and employs 15,000 people in 40 countries.
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Business sales remain flat in Orange County
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The Fraud Shield Score Plus is an alternative to the company's pricier and more multifaceted Precise ID platform. The new program delivers fraud scores in tandem with a consumer credit profile and is aimed at decreasing fake application approvals and increasing efficiency of legitimate approvals. It is also expected to reduce losses caused by fraudulent activity and increase company profits. "Fraudsters do not only attack the largest institutions, but they also target smaller institutions that have historically had less-robust fraud defenses," says Hiq Lee, general manager of Experian's fraud and identity solutions group. "It's imperative that organizations of this size implement strategies and tools to combat the mounting attack." The new program requires little or no changes to current information technology processes. It is ideal for firms that do not currently have the resources to integrate Precise ID into their business platforms, according to the company. "In bringing Fraud Shield Score Plus to the marketplace, we've expanded our authentication offerings to provide an affordable, yet effective, option for small to midsize organizations that might not be able to leverage Precise ID," adds Keir Breitenfeld, director of product management for the fraud and identity solutions arm. Experian serves clients in more than 65 countries, helping businesses manage credit risk, prevent fraud and target marketing offers, as well as helping individuals check their credit report and protect against identity theft. Experian garnered more than $4 billion in revenue last year and employs 15,000 people in 40 countries. Related headlines Advantage Systems sees record year Global Hunter plans to host 100 China-based companies Chapman report: Consumer confidence is up statewide Business sales remain flat in Orange County |
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