Early Warning facilitates the secure exchange of information and knowledge between organizations and offers solutions for responding quickly to evolving fraud challenges.
IDENTITY CHEK® Service
Identity Verification for Fraud Prevention
For nearly 20 years, the IDENTITY CHEK identity verification service has helped financial service organizations mitigate fraud losses and adhere to regulatory compliance requirements when screening both new account applicants and existing customers, in the branch and online.
Designed for risk management professionals, the batch IDENTITY CHEK service allows clients to tailor the service to identify unique fraud patterns. This helps facilitate the detection of fraud rings, identity manipulation and other elusive forms of identity fraud. It also helps to identify and retain good customers who might otherwise be turned away for risk of potential new account fraud.
The IDENTITY CHEK service is available as a real-time or batch offering. The identity verification service is capable of being deployed enterprise-wide across business lines, including retail banking, consumer lending, mortgage, credit card and more. Key provisions within Section 326 of the USA PATRIOT Act are also addressed with the combination of identity verification, compliance list screening and record retention of five years.
The Early Warning Difference
Early Warning maintains a common platform and safeguards the National Shared Database to allow financial services organizations to contribute and share information for the purposes of detecting, preventing and deterring fraud. Unlike other fraud prevention services, Early Warning serves in a Trusted Custodian role. In this capacity, the database is governed by a set of strict Operating Rules, created and adopted by financial institutions, which clearly define acceptable criteria for contributed data. Early Warning also supports consumers' rights to dispute and correct inaccurate or incomplete information furnished to Early Warning in accordance with the Fair Credit Reporting Act (FCRA).
For more information on the IDENTITY CHEK fraud prevention service, please contact us.