GIACT Systems®, the leader in helping companies positively identify and authenticate customers, today announced the launch of gIDENTIFY Persistent Monitoring™ – a new identity monitoring solution that automates the monitoring of specific personally identifiable information (PII). gIDENTIFY Persistent Monitoring triangulates customer PII against multiple sources on an automated basis, providing businesses with an up-to-date picture of their customer population.
Using gIDENTIFY Persistent Monitoring, businesses can optimize their identity management process, mitigate account takeovers, streamline KYC compliance, reduce false negatives, and benefit from up-to-date changes in customer information. On an on-going, automated basis, gIDENTIFY Persistent Monitoring monitors the following fields:
- Last name
- Address
- Phone number
- Death indicator
- Initial and extended fraud alerts on credit report
- Should a change event occur in any of the above fields, gIDENTIFY Persistent Monitoring notifies the business in real-time that there has been a change.
“Having up-to-date records on your customer population is one of the best ways to mitigate fraud and streamline compliance,” said David Barnhardt, Chief Experience Officer at GIACT. “With gIDENTIFY Persistent Monitoring, identity no longer needs to be reactive – gIDENTIFY Persistent Monitoring allows companies to proactively stay up to date on their customer’s identity. Should a change occur in the customer’s profile, the business receives a real-time alert that allows them to seamlessly pull a report, assess risk and proactively respond accordingly.”
“There’s been a resurgence in high-impact forms of fraud, including new account fraud and account takeovers – fraudsters are taking advantage of outmoded verification methods and are using malware to gain access and to takeover customer accounts,” said Kyle Marchini, Senior Analyst, Fraud Management at Javelin Strategy & Research. “Financial institutions, lenders and others need identity verification tools that will give them an up-to-date, well-rounded picture of their customer.”
— via PaymentsJournal
