Equifax, ComplyCube, iDenfy, Seon, LexisNexis tout fresh identity security tools

The fraud problem endures, but advanced fraud prevention tools from the biometrics and digital ID sector can help stamp out attacks. For financial services firms, onboarding is a fraud pain point. For retailers and e-commerce providers, the digital storefront is where KYC comes into play. The field is robust and likely to remain so, as generative AI gives fraudsters new power to synthesize and manipulate identity.

Equifax tool monitors for synthetic identity giveaways

Equifax has launched Synthetic Identity Risk, what a release calls a “next-generation fraud detection product that leverages AI capabilities to help businesses identify and prevent synthetic identity fraud.”

The product uses patent pending machine learning algorithms to analyze identity data, credit history and behavioral signals and assess the likelihood of synthetic identity activity. It can detect potential fraud at account opening or be used as an account management tool to continuously identify hidden portfolio risk.

“Synthetic identity fraud is a rapidly growing threat impacting the consumer lending ecosystem,” says Felipe Castillo, chief product officer for U.S. Information Solutions at Equifax. “With Synthetic Identity Risk, Equifax strengthens lenders’ fraud defenses, helping them to uncover hidden risks and ultimately shift from reactive loss recovery to proactive prevention. In doing so, they not only reduce their financial losses but they safeguard and build long-term trust with their legitimate customers.”

ComplyCube offers drag-and-drop KYC orchestration

The UK’s ComplyCube has announced the launch of its Enhanced Compliance Suite, Fraud Intelligence Solutions and Digital Identity Verification products. A release says the suite of tools strengthens ComplyCube’s unified compliance stack and extends its capabilities across fraud detection, regulatory reporting and digital identity checks.

New capabilities include the headliner, a no-code KYC workflow builder, as well as a multi-layered fraud intelligence suite, expanded digital identity verification via a global eID hub, Smart Forms for client data capture, and SSN verification checks to support the onboarding of U.S. customers.

The no-code KYC workflow builder is a drag-and-drop orchestration engine that allows compliance teams to adjust verification journeys in real time based on customer behavior insights, fraud and AML risk signals, and regional requirements. Mohamed Alsalehi, CTO of ComplyCube, says it “eliminates bottlenecks and lets teams adapt instantly to risk without needing extensive engineering support.”

The new fraud intelligence suite adds behavioral and contextual intelligence to document and biometric controls, and includes signs from the device level, phone account and email intelligence.

The release also integrates a native Zapier integration and expands digital identity verification across the EU, India and the U.S.

iDenfy release supports Adobe Commerce vendors

Lithuania-headquartered iDenfy has released a special Adobe Commerce application to simplify identity verification and KYC compliance for online retailers.

The Adobe Commerce platform offers storefront creation, multi-site support and an integrated back-office system, supported by Adobe’s cloud infrastructure and machine learning AI tools. A release says iDenfy’s identity verification product aims to provide enterprise merchants using Adobe Commerce with streamlined onboarding that “minimizes account fraud, protects users, maintains compliance with evolving regulatory requirements and ensures seamless shopping experience.”

It “specifically helps to confirm user identities by allowing the use of any type of government-issued documents, which are clearly recognizable by their face biometrics.”

Domantas Ciulde, the CEO of iDenfy, says the main goal of the company is to “help online businesses to grow safely, stay compliant, and keep customer onboarding fast.”

“Today’s e-commerce companies are increasingly struggling with finding a balance between customer experience and security. We encourage retailers to integrate robust identity verification and fraud protection solutions without interfering with their customer journey by connecting with Adobe Commerce.”

Seon integrates with Domaine to prevent fraud for Shopify merchants

Seon has announced a strategic partnership with Domaine, a global Shopify design and development partner specializing in platform migrations and enterprise commerce enablement. A release says the collaboration will deliver integrated fraud prevention solutions to Shopify merchants, including real-time data enrichment and action orchestration to combat multiple fraud types, including promotional abuse, payment fraud and refund fraud.

“Fraud prevention is no longer a post-launch consideration; it’s a critical component of commerce infrastructure,” says Matt DeLauro, president and GTM of SEON. “Our partnership with Domaine enables merchants to build fraud protection into their Shopify foundation from day one, whether they’re migrating from legacy platforms or scaling their existing operations.”

Adaptive technology helps LexisNexis fight insurance fraud

LexisNexis Risk Solutions has released LexisNexis IDVerse for Insurance, a document authentication and identity verification product that offers fraud protection for U.S. personal lines insurers and their customers.

A release says IDVerse for Insurance “leverages biometric verification, proprietary AI models, and a deep neural network to securely authenticate and verify ID documents and digital identities within seconds at multiple points in the insurance workflow, including quoting, claims, high-risk transactions, customer service, and account management.”

“U.S. insurers are under increasing pressure to deliver seamless digital experiences without compromising on security, while bad actors and criminal networks are using advanced technology to adapt and continue their attacks on the industry,” says Jennifer Kostyrna, senior director of product management for insurance identity solutions with LexisNexis Risk Solutions.

“The only way to keep up with these fraudsters is to match their sophistication with smarter, more adaptive technology. IDVerse does this by using the same powerful technology to stop fraud in its tracks, giving insurers the confidence to embrace security and bolster their customer experience.”

Article Topics

biometrics  |  ComplyCube  |  ecommerce  |  Equifax  |  fraud prevention  |  iDenfy  |  identity verification  |  IDVerse  |  LexisNexis  |  onboarding  |  SEON