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iDenfy Adds Risk Screening to Fraud Prevention Portfolio

November 23, 2021

iDenfy has added another anti-fraud utility to its ever-expanding digital identity portfolio. The company’s latest offering is a fraud scoring tool that will analyze a number of different factors to gauge the level of risk during an interaction.

iDenfy Adds Risk Screening to Fraud Prevention Portfolio

The goal is to try to spot fraudulent activity before it occurs. To that end, iDenfy will look at the user information and the device being used to complete a transaction, covering personal details like name, address, email, and phone number, in addition to the IP address and the security features available on the device. It can also look at the fingerprint registered to a device, and at the timestamp for the transaction.

In each case, iDenfy is trying to determine whether or not any of those attributes have been associated with fraudulent activity in the past. Those that have been linked to fraud carry a higher risk of future fraud, and the iDenfy solution can then step in to stop the transaction if the risk is deemed too high.

iDenfy will scan black market and other databases in order to make its risk assessment. In doing so, it will look at credit card numbers to identify stolen cards that may have been purchased on the black market prior to the transaction.

The fraud scoring feature is one of several new products that iDenfy has released in the past few months. The company recently partnered with Urjanet to integrate utility data into its identity verification and risk screening process, and it launched a Proxy Detection tool that analyzes IP addresses earlier this year. Both of those utilities supplement iDenfy’s primary identity verification platform, which uses face and document recognition to enable the remote onboarding and registration of new customers.

The Baltic Assembly has presented iDenfy with a Baltic Innovation Prize. The company has also pitched its facial recognition tech to the Lithuanian government as a border security solution.

–

November 22, 2021 – by Eric Weiss

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Filed Under: News Tagged With: anti-fraud, anti-fraud solutions, Biometric, biometrics, digital identity, facial recognition, fingerprint biometrics, iDenfy, IP address identification, mobile biometrics, risk scoring

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