Experian unveils fraud-detection solution

DQC Bureau
New Update

Experian has announced Knowledge IQSM a fraud-detection solution that

integrates data authentication with consumer challenge questions for detecting

fraud and managing the associated risk. This merges two essential elements

precise ID and knowledge IQ in the fight against fraud. Knowledge IQ resides

within, and is powered by Experian's well-known Precise IDSM suite of identity

authentication and fraud-detection tools. Knowledge IQ assesses risk by posing a

series of challenge questions to an applicant to enable a client to assess the

consumer's identity risk.

"The integration of a scoring component to assess applicant risk coupled with

challenge questions will make for a powerful tool in the detection and

prevention of fraudulent activity," said Robert Boxberger, Executive VP,

Washington Mutual Card Services.

"The integration of Precise ID and Knowledge IQ will provide benefits to

users, including quicker detection of potential fraud, reduced operational

expenses and improved risk management," said Gary Kearns, President-Decision

Analytics, Experian.