Will synthetics be a grinch who stole Christmas this Black Friday?
‘Twas the night before Black Friday and as retailers were preparing for the masses, synthetic identities were slipping past lenders’ fraud defenses…
The holiday shopping season is upon us and 2019...
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Is identity fraud becoming a leading economic indicator?
Economists continue to debate whether the next recession is around the corner or several years off. In recent months, ID Analytics has observed an interesting trend – fraudsters appear to be...
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Transforming portfolio management with alternative credit scores
Enterprises have begun to see the value in using alternative credit scores as part of their lending decision processes for various use cases – from identifying more creditworthy consumers to...
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How NASA Federal Credit Union reduced friction for 97% of new applicants, without increasing fraud risk
Fraudsters today use increasingly sophisticated tactics and target a wide range of industries. Account takeover and new account fraud are on the rise, including in new areas such as merchant debit...
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Attacking synthetics – a real approach to uncovering potentially fake identities
Over the last several years, we have discussed the issue of synthetic identity fraud extensively with our clients to gain a better understanding of how they view the problem, how it’s impacting...
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3 Reasons to use Alternative Credit Data in Prescreen Campaigns
In today’s competitive marketplace, it is important to deliver innovative financial solutions that create opportunities for growth in lending and consumer spending. Many of the largest U.S....
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Building a case for alternative credit data: Scoring persistently credit invisible consumers
The Consumer Financial Protection Bureau (CFPB) has identified that approximately 45 million consumers are either credit invisible or unscorable by major credit bureaus. People who don’t have...
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Can alternative credit data help evaluate prime consumers?
Our recent blogs demonstrate the benefits of leveraging alternative credit data to identify more creditworthy consumers who are considered credit invisible and provide greater insights to marginal...
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Update from the Hill: Progress on electronic identity verification by the SSA
I have two important updates from the Hill regarding progress on the Economic Growth, Regulatory Relief, and Consumer Protection Act. In my previous posts, I discussed a provision in the Act that...
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The value of alternative credit data in separating risk on the margin
In my last blog, I discussed how the use of alternative credit data has become a mainstream answer to the challenge of identifying creditworthy consumers who are credit invisible. While that is...
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Alternative credit data case study: Top-ten card issuer uncovers credit invisibles
Almost one-fifth of adults in the United States face obstacles to obtaining credit because they are considered “credit invisible”—meaning they either don’t have a credit history with, or are...
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Synthetic identities: How well are you reading the signals?
For some lenders and service providers detecting synthetic identities might seem like an exercise in futility or perhaps even a lesson in fortune telling—how can they determine whether an...
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An analysis of synthetic identities from a fraud and credit risk perspective
One of the most sophisticated synthetic identity fraud rings in U.S. history created 7,000 new identities, received 25,000 credit cards and amassed a $200 million bounty from banks between 2003...
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Fraud, credit and identity risk: What to watch for in 2019
What does 2019 have in store for those of us who work in the fields of fraud, credit and identity risk? These are some of the key issues ID Analytics will be following and actively working to...
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Update from the Hill: Unintended consequences of the CA Consumer Privacy Act
The California Consumer Privacy Act (CCPA) of 2018 is another regulation our compliance team has been keeping tabs on. The Act was signed into law by then California Governor Jerry Brown on June...
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Update from the Hill: Progress in the fight against identity fraud
Since my last update, I’ve been following progress on the Economic Growth, Regulatory Relief, and Consumer Protection Act. As a refresher, this Act contains a provision that directs the Social...
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A word from our CEO: 2018 year in review and a preview of 2019
ID Analytics had a lot to be thankful for in 2018. First, I want to thank our clients for their unwavering support and for the valuable advice throughout the year which helped us shape our...
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Cyber Monday 2018: Late night credit applications and mobile purchasing are trending
In our last post, we shared new trends developing in 2018 that transformed the traditional Black Friday kick-off to holiday shopping. Specifically, online purchasing was a popular choice for many...
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Black Friday 2018: No more early birds & retail credit applications on the rise
Black Friday 2018 saw slower foot traffic in retail stores than in years past, but that didn’t mean merchandise wasn’t flying off the shelves—online sales hit a record high with shoppers spending...
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Top 3 questions from our web seminar: Tackling synthetic identity fraud head-on
ID Analytics recently participated in a web seminar hosted by American Banker, Tackling synthetic identity fraud head-on where we discussed best practices for optimizing detection and prevention...
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