Precise ID Model Suite

Evolved identity verification and fraud prevention

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Fraudsters are constantly looking for new opportunities, particularly during times of uncertainty. As fraud patterns shift it is critical to not only detect fraud but to accurately identify it. Precise ID Model Suite combines identity analytics with advanced fraud risk models to distinguish various types of fraud – helping you maximize your time and resources. By differentiating fraud types, you’re able to determine the best treatment for each scenario, prevent fraud more efficiently, and protect legitimate customers.

Rich data assets

Apply insights from identity demographics and validated credit data

Authentication

Recognize your true customers and keep manual reviews low

Fraud risk scoring

Distinguish first-party fraud, identity theft, and synthetic identity

Precise ID Model Suite enables you to:

Confidently and effectively verify identities against our industry leading data sources
Create a seamless experience for your true customers
Protect the entire customer journey against fraud – across account opening, login, maintenance and transactions
Distinguish first-party fraud, third-party fraud and synthetic identities to determine the next best action
Improve fraud detection while keeping manual reviews low
Stay agile during changing market conditions
Maintain regulatory compliance including: KYC, CIP, GLBA, FCRA, FFIEC, PATRIOT Act, FACTA, and more
Verify identity elements against OFAC and sanctions list

How it works

Detect fraud more efficiently + minimize losses with Precise ID Model Suite

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Product features

Summary-level match results for identity elements such as name, address, phone, date of birth, and Social Security number
Identity risk scores that accurately addresses levels of first-party and third-party fraud risk, then flags and prioritizes applications for further review
Step up authentication for higher fraud risk scenarios, such as knowledge-based authentication questions or one-time passcode

Recommended next steps to determine the appropriate treatment for each scenario
Open architecture solution for quick implementation, regardless of your operating environment
Identity authentication and model governance, leveraging Experian’s credit and proprietary noncredit data

Resources

2020 Global Identity and Fraud Report

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Blog: Managing increased fraud risk

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Blog: Strategies when responding to the market downturn

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Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian. Other product or company names mentioned herein are the property of their respective owners.