Experian Information Solutions [LSE: EXPN]: Experts in Detecting Fraudulent Activity

Steve Platt, Executive VP of Fraud & Identity Management, Experian Information SolutionsSteve Platt, Executive VP of Fraud & Identity Management
“In the 21st century digital age, where everything is mobile and online, delivering a seamless consumer experience while protecting businesses against fraud is a major challenge,” explains Steve Platt, Executive VP of Fraud and Identity Management. Platt believes that passwords alone are insufficient to safeguard consumers and the companies where they transact. “We provide our clients with a variety of information in real time to advise on whether or not to proceed with a transaction. This feature is a core differentiator for Experian,” says Platt. Back in June, Experian launched CrossCore™, the fraud and identity industry’s first open platform designed to catch fraud faster, improve compliance and enhance the customer experience.

CrossCore gives companies an easier way to connect any new or existing tools and systems in one place. This “plug-and-play” capability allows companies to connect multiple disparate services through a common access point that then enables a layered approach to managing risks. CrossCore includes powerful workflow and strategy design capabilities that allow fraud and compliance teams to rapidly create and adapt strategies based on evolving threats and business needs.

A client of Experian was recently at a very high risk of malicious activities for new accounts opened by its customers due to vulnerability in their online channel. Experian quickly provided the client with a solution that collected a combination of data from customers and also gathered insights gathered from devices that were being used to open up those accounts.

The combination of our products and capabilities together help our clients capitalize on the opportunities they have

The information allowed Experian to identify requests from fraudsters and through subsequent profiling, it was able to bring out specifics about the devices and look for hidden patterns and settings that revealed the possibility of any form of fraudulent activity.

“The technology that we provide to our clients averts the risk of attacks,” says Platt. Experian is also making significant investments in its product portfolio to bring new innovations to its client base. “The combination of all of our products and capabilities really helps our clients capitalize on the opportunities they have while protecting them against security threats,” concludes Platt.

Experian, whose corporate headquarters are based in Dublin with additional offices in the UK, US, and Brazil, is a global leader in information services. The firm’s foundations in data and analytics with industry leading technology helps organizations around the world to manage credit risk, prevent fraud, target marketing offers, and automate decision making. Using its comprehensive understanding of individuals, markets, and economies, Experian helps companies to find, develop, and manage customer relationships to make their businesses more profitable. Also, the firm promotes greater financial health and aids clients to identify new business opportunities by enabling them to understand, manage, and protect their personal information.