Experian launches enterprise fraud and ID business division in North America
Experian announced at the Vision 2015 Conference it has launched a dedicated enterprise fraud and ID business unit in North America to address the escalating fraud risk and identity management challenges facing businesses, financial institutions and government agencies.
The newly dedicated operation will allow Experian to deliver greater value across its many markets by offering customized approaches that equally address privacy, security and compliance requirements, along with taking into account client reputation, customer experience, convenience and efficiency.
“For nearly two decades, we have been helping clients solve the difficult and ever-changing problems of fraud detection and identity management,” said Charles Chung, president of decision analytics at Experian North America. “Our core expertise was further enhanced by the recent acquisition of 41st Parameter which added device identification as another important layer of sophistication to our suite of fraud detection tools.
“Now the creation of a new fraud business unit brings all components of our fraud and ID services together to better serve all markets through our innovative authentication techniques, advanced analytics and Big Data insights.”
By integrating these various areas, Experian will offer a portfolio of enterprise services ranging from identity and device risk assessment and anti–money laundering to consumer identity monitoring and alerts.
As a result, Experian will continue to meet client needs regarding the complex risks they face.
Experian has named Dr. Jon Jones to lead the new business unit as senior vice president and general manager of fraud and ID for Experian North America.
Experian has also launched its Identity Element Network which identifies real-time fraud volume and velocity linkages across multiple industries to predict when consumers are most at risk of identity compromise.
The firm monitors and predicts when seemingly random identity element linkages become notable risk clusters, including when an identity likely has been compromised, when an identity has experienced a data breach, and when a transaction is part of an identity theft scheme.
Experian customers can use Identity Element Network service through its flagship fraud enterprise platform, Precise ID, using its data assets and analytics alongside 41st Parameter’s FraudNet to deliver a full view of the Customer Life Cycle of traditional identity, device confidence and risk assessment.