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ChoicePoint® Enhances Bridger Insight™ XG to Help Reduce Risk and Drive Down Overall Compliance CostsChoicePoint (NYSE: CPS) has enhanced its Bridger Insight XG solution with new functionalities for retail and commercial banking institutions and other organizations to reduce risk and improve profitability by helping to prevent fraud.
Alpharetta, Ga. (PRWEB) June 4, 2008 -- ChoicePoint (NYSE: CPS) has enhanced its Bridger Insight XG solution with new functionalities for retail and commercial banking institutions and other organizations to reduce risk and improve profitability by helping to prevent fraud.  Identity Risk Management Solutions from ChoicePoint
Bridger Insight XG provides access to tools that support identity verification, identity analysis, business screening and wire transfer scanning. The new enhancements are designed not only to augment the identity verification, regulatory compliance and due diligence efforts of chief compliance officers and chief risk officers, but can also support an organization's identity theft "Red Flags Rules" program.
Bridger Insight XG has been enhanced to proactively help prevent fraud loss by allowing organizations to recognize indicators of possible identity theft during the identity verification process. Identity Analysis, a new companion service to Identity Verification, provides a second, deeper level of insight by helping determine whether multiple individuals are tied to a single SSN, and whether multiple SSNs are tied to a single person. Used in tandem, these services can help organizations quickly isolate potential fraudulent activity that may warrant further review. "One of the earliest and most basic methods used by identity thieves involves the takeover of a person's Social Security number," said Jeff Butler, ChoicePoint product manager. "By improving our Identity Verification and Identity Analysis tools, SSN fraud attempts may be detectable earlier, helping to save time and revenue." Bridger Insight XG also provides access to business screening tools to help increase efficiencies and save time. Information such as business tax ID, physical addresses, telephone numbers, Standard Industrial Classification codes, officers, and status and business type can be obtained when using Identity Analysis for business verification. In addition, users can access criminal records within ChoicePoint's adverse filings data, which is available for commercial use. ChoicePoint's on-demand public record reports are also accessible through Bridger Insight XG, providing the option of creating custom reports derived from various public record sources. Further, Bridger Insight XG's powerful search algorithm now scans wire transfers with greater precision to facilitate faster, more informed risk management decisions. It also helps improve match quality with new wire scanning formats for ACH, Fedwire and SWIFT. With potentially fewer false positives and more meaningful match returns, the same number of employees may now be able to process more wires in less time, potentially increasing revenue. This enhancement not only may increase efficiency, but it may also help provide better identification of risk. For more information about Bridger Insight XG, visit www.BridgerInsight.com/XG.
Bridger Insight is a trademark and ChoicePoint and the ChoicePoint logo are registered trademarks of ChoicePoint Asset Company LLC. ### |
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By improving our Identity Verification and Identity Analysis tools, SSN fraud attempts may be detectable earlier, helping to save time and revenue.
