Equifax, a provider of information offerings, has expanded its identity fraud management suite to allow businesses to combat both true-name and synthetic identity fraud.
The company said that the new offerings along with its analytics and technology offerings allows customers to create multiple layers of defense against attempted application fraud.
In addition, the identity suite is a patented real-time identity verification and authentication tool, which provides automated, non-intrusive protection, by using statistical fraud models and adaptive quiz capabilities.
According to Equifax, the eID real-time risk assessment score facilitates in assessing and prioritising any suspicious activity, while authentication allows customers to reduce fraud losses, reduce manual reviews and decrease abandonment during the application process.
The identity suite utilises identity screening offerings to identify suspicious information and known fraud schemes, while the company’s fraud-screening capabilities leverage public and proprietary database sources to detect potential identity theft during the application process.
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