Enformion Introduces eID Risk Score for Precise Fraud Detection and Mitigation
Sacramento, CA (October 24, 2023) – Enformion, a leading provider of data and analytics solutions, is proud to announce the launch of its latest product, eID Risk Score. This innovative tool provides businesses with a real-time, comprehensive assessment of identity risk across email, phone, and address attributes, enabling precise fraud detection and mitigation.
eID Risk Score leverages advanced analytics to deliver an intuitive risk rating, empowering businesses to effectively detect fraud during onboarding, transactions, and ongoing account monitoring. With granular reason codes, companies gain transparency into the risk drivers, enabling informed and targeted risk mitigation strategies.
“We are excited to introduce our eID Risk Score to the market,” said Amber Higgins, CEO of Enformion. “With its holistic approach and advanced analytics, eID Risk Score empowers businesses to maximize revenue opportunities by reducing fraud losses, manual reviews, and false positives. The solution also streamlines operations while improving the customer experience leading to an overall improvement across the entire customer lifecycle. ”
Combining the power of distinct risk scores for phone, address, and email attributes, eID Risk Score offers an all-inclusive and easy-to-use tool for fraud prevention. Detecting phone spoofing, SIM swaps, social engineering, and other phone-based attacks, uncovering address anomalies, and analyzing email domains and metadata are just a few of the capabilities that eID Risk Score offers.
In addition, the solution stands out from the competition with its broad coverage of thin-file and underbanked identities. Its fully configurable risk models and thresholds offer flexibility to adapt to specific business needs. Continuous data updates ensure the utilization of the most current and freshest information, and linkage analysis uncovers connected, high-risk identities.
“At Enformion, we’ve harnessed the power of human intelligence and machine learning to develop an industry-leading solution for fraud and risk prevention,” said Venkat Bhardwaj, Chief Product Officer of Enformion. “The intuitive score simplifies the risk analysis, and its precise reason codes drive accurate risk assessment, effective case routing, and reducing false positives that impact legitimate customers. This product is a game-changer, leveraging robust analytics and identity datasets to solve one of the biggest challenges companies face today.”
Enformion’s eID Risk Score has numerous use cases across many industries. It can effectively block new account fraud during onboarding, step up authentication based on risk levels, detect fraudulent transactions and online orders, prevent identity attacks such as phishing and account takeover (ATO), and streamline KYC, CDD, and compliance workflows.
Leveraging eID Risk Score, businesses can achieve a multitude of benefits from fraud reduction to cutting down on investigation costs and manual reviews. The improved detection capabilities also lead to higher approval rates, an enhanced customer experience and better overall profitability for businesses.
To learn more, please visit https://www.enformion.com or follow us on LinkedIn at https://www.linked.com/company/enformion.
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About Enformion
Enformion is a powerful analytics solution provider, offering an unparalleled view of people, businesses, and their interrelationships. 30+ years in the data technology industry has resulted in a database of 120 billion up-to-date records for more than 240 million American adults, including hard-to-verify populations, from 6000+ data sources. Enformion provides solutions for a variety of markets including financial services, identity verification, eCommerce and marketplaces, collections and investigations, and government. For more information about our customized solutions, visit https://www.enformion.com/ or call (855) 281-3915.
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