Experian introduces fraud detection solution

Cybermedia News

New Delhi:  Experian has announced a fraud detection solution that
integrates data authentication with consumer challenge questions to create the
most comprehensive approach for detecting fraud and managing the associated
risk. The new product, Knowledge IQSM, is the first system to merge two
essential elements in the fight against fraud.

Knowledge IQ resides within, and is powered by, Experian's well-known Precise
IDSM suite of identity authentication and fraud detection tools. Knowledge IQ
assesses risk by posing a series of challenge questions to an applicant to
enable a client to assess the consumer's identity risk.

"The integration of a scoring component to assess applicant risk coupled
with challenge questions will make for a powerful tool in the detection and
prevention of fraudulent activity," said Robert Boxberger, executive vice
president, Washington Mutual Card Services.

"The integration of Precise ID and Knowledge IQ will provide immediate
benefits to users, including quicker detection of potential fraud, reduced
operational expenses and improved risk management," said Gary Kearns,
president, Experian's Decision Analytics