Reveal synthetic identity fraud attempts in real time.
Synthetic identity fraud and first-party fraud are evolving so quickly that most platforms and tools are unable to keep up, likely because they were designed to establish creditworthiness, approve new lines of credit, and verify identity. Fraudsters are able to bypass these systems, causing an increase in credit write-offs and of miscategorized fraud that’s never appropriately solved at the source. Prevent this with our solution that will uncover synthetic ID fraud before it becomes a credit loss.
Stay on top of fraudster workarounds.
Synthetic identities are difficult to uncover when fraudsters use a mix of real and fake data to create new false identities they can use to obtain credit, make purchases or open new accounts. It’s an ever-evolving effort by fraudsters to fool you with stolen, synthetic and rented identities, making initial authentication even more challenging. With our solutions, you can vary the level of authentication according to the risk presented at any time during the customer’s session.
Confidently authenticate new customers.
TransUnion is a market leader in establishing and validating personal identities. iovation is a market leader in authenticating digital identities. Together, our databases provide you with an incredibly powerful data resource that makes it easier than ever for you to establish new customers’ identities and weed out synthetic identity fraud, with confidence.
Grow your base of trusted connections.
It’s important to stop synthetic identity fraud, but it’s also critical that no barriers are put in place that will frustrate legitimate customers wanting to create new accounts. It’s a fine balance, but we’ve got it perfected. We use a combination of rules-based and machine learning solutions, and you gain the benefits of each approach in quickly and accurately eliminating synthetic fraud. Accept trusted new connections with confidence and provide them with a premium authentication experience, while you keep out fraudsters.
Director Fraud Systems and Analysis Manager
iovation has massively helped us reduce the amount of fraud we see from impersonation and synthetic identity theft.