ID Analytics Overview
ID Analytics, now a part of LexisNexis Risk Solutions, is a leading provider of fraud and credit risk solutions, specializing in advanced technology, data, and analytics to deliver actionable insights for enterprises.
What ID Analytics Does
ID Analytics focuses on helping organizations, particularly in the telecommunications and financial services sectors, manage consumer credit risk and fraud. The company’s solutions are designed to provide deep insights into consumer behavior, enabling more predictive credit decisions across the entire customer lifecycle.
Key Features and Functionality
ID Network®
One of the core strengths of ID Analytics is its ID Network®, one of the largest networks of cross-industry consumer behavioral data in the U.S. This network aggregates traditional and alternative data to help organizations better identify applicant fraud risk and assess creditworthiness.
Advanced Analytics and Machine Learning
ID Analytics utilizes advanced analytics and machine learning capabilities to detect patterns of behavior indicative of fraud or data integrity issues. These analytics enable the quantification of identity risk by assigning scores that represent the level of identity fraud risk associated with a particular transaction. This scoring system allows for objective, consistent, and repeatable decision-making processes.
Identity Verification and Authentication
The solutions offered by ID Analytics enhance identity verification and authentication processes. For instance, the ID Connect platform provides a seamless and safe way for consumers to complete digital enrollment or new account applications, ensuring a frictionless experience while managing fraud risk. ID Connect can automatically populate application fields, perform risk assessments, and even allow users to upload images of their government-issued identification cards for verification.
Comprehensive Risk Management
ID Analytics’ solutions are comprehensive, covering various aspects of risk management. They help organizations reduce fraud, drive cost savings, and protect customers by providing in-depth visibility into identity risk and creditworthiness. The combined capabilities with LexisNexis Risk Solutions further enhance these services, offering a more accurate and comprehensive approach to fraud, identity, and credit risk management across all forms of commerce.
Real-Time Insights
The company provides near real-time insights into consumer behavior, which is crucial for making risk-based decisions that enhance revenue and reduce fraud. This real-time capability is supported by patented analytics and proven expertise in consumer risk management.
Conclusion
In summary, ID Analytics offers robust solutions that leverage advanced technology, extensive data networks, and sophisticated analytics to help businesses manage credit risk, prevent fraud, and verify identities efficiently and accurately.