Retail Banking Fraud Solutions

Equifax helps you reduce fraud risk and offer a higher level of service to protect your consumers.

Recognize and stop fraud

Quickly recognize and stop more types of account fraud. Equifax offers solutions to fight synthetic and true-name fraud, along with real-time detection of velocity and behavioral patterns that are indicative of suspicious activity.

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Improve fraud capture rates and reduce false positives

As fraud attempts become increasingly sophisticated, banks are challenged to accurately detect skilled fraudsters using suspicious identities. The key is to cost-effectively isolate high-risk applications and increase approved applications without negatively impacting the customer experience with unreasonable false positive rates.

Reduce false positives—and charge-offs

Suspicious IDTM leverages a vast repository of consortium data and proprietary match logic to improve fraud capture rates and reduce false positives. By including Suspicious ID in their account opening process, one financial institution saved approximately $700,000 per year.

How it works

Suspicious ID detects suspicious identities in real time by analyzing identity events across thousands of institutions and billions of data elements, uncovering behavior patterns that are difficult for fraudsters to fake.

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Mitigate online fraud and enhance compliance

Today's virtual marketplace brings banks and customers together online to open accounts, transact business and get instantaneous approval and access. But with identity theft increasing at an alarming rate, and with the increasing complexity of staying in compliance with government regulations, today's lenders need new fraud mitigation solutions.


Best-of-breed identity validation

eIDcompare is an Internet-based service that helps banks easily comply with Know Your Customer Rules and regulations for online and high-risk transactions by accurately verifying a consumer's identity quickly in the onboarding process. In fact, many financial institutions have integrated eIDcompare as the first step in their multilayered fraud mitigation strategy. eIDcompare is especially helpful when validating online information for hard-to-ID populations like new residents, young adults, immigrants and the elderly.

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Reduce account opening fraud with knowledge-based authentication

Identity theft has become one of the fastest-growing crimes in the U.S. That's why today's lenders need a knowledge-based authentication (KBA) tool that goes beyond simple fraud checks.

eIDverifier is an Internet-based service that authenticates an applicant's identify by presenting multiple choice questions—the answers to which should only be known by that actual applicant.

Increase online revenue stream and minimize fraud

eIDverifier is non-invasive to customers and automates the registration for authenticated applicants in real-time. The solution helps banks:

  • Reduce fraud through identity authentication
  • Automate the booking of authenticated customers in real time
  • Minimize manual processing time and costs
  • Customize security requirements specific to your needs
  • Reduce website abandonment rate by proactively addressing security concerns
  • Comply with USA Patriot Act, FFIEC, and FRCA guidelines
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