Benefits
FraudPoint® is a highly efficient scoring and identity data solution that greatly enhances your ability to predict and prevent fraud, while helping you identify and approve profitable customers.
Gain a clear line of sight
We continuously gather identity management intelligence from thousands of reliable sources, including directly from public and proprietary data sources. FraudPoint helps ensure that the information and scoring you receive is current, accurate and insightful because it starts with data that comes straight from the sources and is updated regularly. LexisNexis solutions can instantaneously deliver verification, authentication and identity analytics on consumers and businesses.
Fraud risk—ranked and scored with precision
FraudPoint reveals fraud characteristics not evident in standard verification and validation processes by catching inconsistencies in applicant and account information.
An easy-to-interpret, three-digit score ranks individuals according to their calculated risk to commit fraud, making the decision process simple. And our sophisticated modeling and analytics can give you confidence to accept or deny customers. Better mitigate risk earlier in the process and let LexisNexis FraudPoint effectively rank order fraud up front—saving operational costs and fraud loss expense.
Increase efficiency—increase profits
Your three-digit score also comes with six prioritized reason codes that pinpoint high-risk applicants, suggest automatic approvals and streamline exception processing. Not only will you be preventing fraud as you identify legitimate new customers, you'll be doing it quickly. That frees up your time to handle larger volumes of work or focus time and attention on other pressing business needs.
Comply with Federal regulations
The FraudPoint solution can help serve as a significant component in your Red Flags Identity Theft Prevention Program.
Get it now: For more information about FraudPoint, please call 800.869.0751.
Features
Accurate risk assessment
The effectiveness of a predictive score depends on the quality of the underlying data used to produce it. FraudPoint scores are generated from a vast collection of public records and non-traditional, proprietary information. This data is then used to assess the likelihood that an individual will potentially commit fraud.
Comprehensive data sources
FraudPoint incorporates a wealth of constantly updated public records and can evaluate up to 75 million more consumers than traditional credit bureaus. Once the data is gathered from multiple sources, it goes through a sophisticated linking and analytics process that ultimately assigns a score based on fraud potential or the lack thereof. Our comprehensive suite of investigative tools allows you to quickly research and resolve fraud cases.
Convenient ordering and delivery options
FraudPoint scores and attributes can be ordered through machine-to-machine processing, batch or online. LexisNexis® can also easily integrate access to FraudPoint and/or FraudPoint Attributes into your current risk assessment software.
Industry-specific results
FraudPoint is an identity scoring and management solution that has been tailored to the needs of financial institutions, bankcard issuers, telecommunications companies, and other organizations that offer loans or lines of credit and are at risk for fraud.
Get it now: For more information about FraudPoint, please call 800.869.0751.
Optional Components
FraudPoint® includes these powerful fraud prevention tools:
FraudPoint Attributes—Set your own fraud prevention policy
FraudPoint Attributes leverages more than 160 major risk touch points based on life events and predictive identity data sets. A compiled score and the underlying data allow you to build or customize your own risk policy or acceptance model based on criteria you deem relevant. Key touch points include:
- Identity authentication
- SSN attributes
- Invalid identity attributes
- Evidence of compromised identity
- Identity change information
- Past and present address characteristics
- Address differences
- Transient person attributes
- Derogatory public records
- Higher-risk address and phone attributes
- IP Geolocation Attributes
Finely tuned insight
FraudPoint and FraudPoint Attributes can be combined as a complete solution or an enhancement for improving the performance of existing fraud-prevention programs.
- Gain knowledge about your customer base, its behavior and its risk for fraud
- Monitor high-risk activity at a frequency based on your risk policy
- Make smart, informed decisions supported by strong analytics
- Increase approvals of legitimate applicants while avoiding fraudulent ones
- Identify fraud and fraud characteristics much sooner
- Reduce manual-review operational expenses
- Complement your Identity Theft Red Flags Fraud and Compliance Program
InstantID®
InstantID searches both business and consumer records to authenticate companies and individuals and identify any potential risks that are associated with them.
Comply with federal regulations
The InstantID® solution was designed to help you follow the recommended policy guidelines published by the American Bankers Association—in fact, it is the only identity verification solution that has been endorsed by the ABA. It also helps you meet the new account opening requirements that are outlined in Section 326 of the USA PATRIOT Act.
Prevent identity fraud
InstantID combines verification, validation, and fraud detection tools in order to instantly authenticate businesses and individuals. It searches both business and consumer records, and it returns information that verifies a person's identity and alerts you to any indicators of potential fraud.
Get it now: For more information about FraudPoint, please call 800.869.0751.
