FraudPoint®

Combat identity fraud with sophisticated scoring and leading analytics

Stay ahead of evolving fraud tactics with a holistic approach to managing fraud risk through investigative tools, risk prediction and authentication—while reducing fraud costs and increasing efficiency.

LexisNexis has the most comprehensive data and technology to investigate, prevent and resolve fraud so you can minimize exposure to fraud risk by uncovering and reacting to emerging fraud patterns sooner. Our industry experts in fraud analytics can help you transform data into actionable scoring intelligence with substantially fewer false positives. LexisNexis solutions give you the clear results you need to predict and prevent fraud—while helping find and approve profitable customers.

FraudPoint® is a highly efficient scoring and identity data solution that greatly enhances your ability to prevent fraud, reduce costs and streamline decisions so that your business steers clear of fraud and stays focused on profitable customers.

Protect profits with a complete prevention strategy

FraudPoint helps you identify an applicant's risk of committing fraud and delivers an intelligent fraud prevention strategy that:

  • Increases profits by realizing faster customer acquisition.
  • Reduces operating costs.
  • Reduces fraudulent write-offs.
  • Minimizes unnecessary delays in approvals for legitimate customers.
  • Streamlines decisions to increase operational efficiencies.
  • Lowers false positives.

Data-driven insight provides advantages

FraudPoint solutions utilize four major categories of information that provide real-time visibility into identity activity and identity behavior across multiple industries. LexID®, the advanced linking technology from LexisNexis, aggregates information from over 34 billion records and intelligently examines the data interconnections to provide clear perspective into the complex world of identity fraud. With an identity repository of more than 95% of the U.S. adult population, including entities with limited credit and financial histories, no other provider can offer the level of sophistication, coverage and fraud prediction.

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.

With access to the most authoritative data and analytics, FraudPoint® Score is an analytic scoring solution that delivers critical, relevant insight that can substantially improve your ability to predict and prevent fraud—and recognize and approve authentic customers. An easy-to-interpret, three-digit score ranks individuals according to their calculated risk to commit fraud, making the decision process simple.

Better mitigate risk earlier in the process and let FraudPoint effectively rank order fraud up-front—saving operational costs and fraud loss expense.

Increase efficiency—increase profits

FraudPoint Score is reported with six fraud-indicative warning codes for high-risk conditions. To help pinpoint the type of fraud most likely being perpetrated against your organization, one of six innovative fraud type indices is dynamically calculated and provided. Not only will you be preventing fraud as you identify legitimate new customers, but you'll also be doing it quickly. This frees up your time to handle larger volumes of work or focus time and attention on other pressing business needs.

Comply with Federal regulations

FraudPoint 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.

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

Available in batch, XML and a simple user interface, FraudPoint solutions can be used in conjunction with other LexisNexis identity verification and authentication solutions to strengthen your prevention strategy and supporting programs.

Industry-specific results

An identity scoring and management solution, FraudPoint 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.

FraudPoint includes these powerful fraud prevention tools:

FraudPoint® Attributes—Set your own fraud prevention policy

FraudPoint Attributes consist of over 200 model-ready, highly predictable fraud variables comprised of insights not found in credit bureau or other identity aggregator products. 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 touchpoints 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

Expanded fraud variables deliver deeper fraud detection power

FraudPoint Attributes give your business the power to harness the value of the identity intelligence that is the foundation of the FraudPoint scoring solution. FraudPoint and FraudPoint Attributes can be combined as a complete solution or an enhancement for improving the performance of existing fraud prevention programs.

FraudPoint Attributes consist of over 200 model-ready, highly predictable fraud variables comprised of insights not found in credit bureau or other identity aggregator products. With FraudPoint Attributes, you can:

  • Confidently strengthen your own internal scoring algorithms.
  • Build dimensional acceptance models.
  • Implement fraud risk policies that drive efficiency across multiple fraud prevention processes.
  • Integrate identity variables into transaction monitoring systems.

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.

White Papers

  1. Stopping Fraud Where It Starts:
    The Value of Analytics in the Onboarding Process

    LexisNexis is offering a complimentary white paper that will:
    • Discuss best practices associated with addressing identity fraud
    • Introduce methods and tools to reduce fraud losses
    • Provide insight into this serious issue that is costly to the bottom line and wastes valuable resources
  2. The Effect of Identity Fraud to Financial Services Organizations:
    Costs, Losses, Resource Requirements and Best Practices

    Our white paper will reveal:
    • What is the current state of fraud, particularly costs and incidence rates?
    • How have new account fraud rates been affected?
    • What is the process for new account onboarding through online channels?
    • Why are analytics so important in an onboarding process?
    • What security tools are currently available to financial institutions?

Literature

  1. LexisNexis® FraudPoint® Solutions
  2. Fraud Total Solutions from LexisNexis®

Get it now: For more information about LexisNexis® Anti-Money Laundering Solutions, please call 800.869.0751.

Get a Free Fraud Risk Assessment & Portfolio Analysis

Contact Us

For more information about our solutions call 800.869.0751 or contact us online

FraudPoint® and FraudPoint® Attributes does not constitute a "consumer report" as that term is defined in the federal Fair Credit Reporting Act, 15 USC 1681 et seq. (FCRA). Accordingly, FraudPoint® and FraudPoint® Attributes may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another permissible purpose under the FCRA.

Due to the nature of the origin of public record information, the public records and commercially available data sources used in reports may contain errors. Source data is sometimes reported or entered inaccurately, processed poorly or incorrectly, and is generally not free from defect. This product or service aggregates and reports data, as provided by the public records and commercially available data sources, and is not the source of the data, nor is it a comprehensive compilation of the data. Before relying on any data, it should be independently verified.

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Did you know?

FraudPoint® is available through online, batch processing or XML system integration.