eIDcompare™ is a comprehensive identity verification tool that confirms the likelihood that an identity exists, as well as the likelihood of the identity being associated with fraud. When used as a “frictionless” first layer of defense in a multi-layered strategy, eIDcompare is an economical solution that leverages a waterfall approach to validating client information against multiple data sources. By using multiple data sources in concert, eIDcompare offers excellent match rates, even for hard-to-identify populations like new residents, young adults, immigrants and the elderly.
- Standardizes and reviews client-provided information to test for data inconsistencies and irregularities. This includes checking for details such as data that has been reported as belonging to a deceased person and the validation application data formats.
- Conducts a pattern recognition algorithm on each transaction. For example, a velocity parameter determines the number of times a client has applied for verification in a specific time frame.
- Determines the risk associated with the device used including device identity, IP address, and reported prior fraud behavior.
- Applies a statistical model that generates a fraud index that can be leveraged in the overall assessment of an identity.
If an identity is connected to questionable activity, eIDcompare delivers a warning indicator, reason codes, data source validation, and either a 'pass' or 'manual review' recommendation – in real-time.
- Validates that an identity exists and/or is associated with potentially fraudulent activity
- Identifies misused addresses and telephone numbers
- Identifies misused or fraudulent Social Security Numbers
- Offers high, medium and low reason code risk levels
- Includes a Predictive Fraud Score option