Software facilitates authentication process.June 20, 2006 -
Offering more than 30 credit- and noncredit-based questions, Knowledge-Based Authentication Platform provides comprehensive solution for fraud prevention and detection. It lets client customize order of questions as well as assign greater importance to one or series of questions. Program provides ability to remotely authenticate individuals without delay, enabling consumers and businesses to securely conduct business with minimized risk.
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Original Press release
Experian
955 American Lane
Schaumburg, IL, 60173
USA
Experian Upgrades Knowledge-Based Authentication Service Platform
COSTA MESA, Calif., May 17 / / -- Experian(R), a global information solutions provider, today launched the next generation of its Knowledge-Based Authentication services platform. The platform enhancements will help Experian clients expand their authentication capabilities by offering a broader array of questions than had previously been available. New questions not related to credit topics and not under the auspices of the Fair Credit Reporting Act (FCRA) are now provided to add another dimension to the authentication process.
Identity authentication is one of the most effective methods available to protect consumers and businesses from becoming victims of identity theft. With the introduction of non-FCRA, noncredit questions, Experian provides the most comprehensive Knowledge-Based Authentication solution for fraud prevention and detection. In total, Experian's solution now offers more than 30 credit- and noncredit-based questions. Additionally, Experian's solutions meet Knowledge-Based Authentication needs across the regulatory spectrum, including guidelines outlined by the Federal Financial Institutions Examination Council (FFIEC).
"The best resource financial institutions can have against identity theft and third-party fraud is a solid knowledge-based authentication solution," said Marc Kirshbaum, president of Experian's Fraud Solutions. "Experian's enhanced KBA platform can strengthen an institution's current authentication service and provide multifactor authentication addressed in recent FFIEC guidelines."
Enhancements included in this release of Experian's Knowledge-Based Authentication solution include providing the clients the option of assigning greater importance to one or a series of questions, customizing the order of the questions and expanded reporting capabilities. The result is a solution that is adaptable to the needs and requirements of individual institutions.
Experian's Knowledge-Based Authentication is a cost-effective and easy-to-implement solution that mitigates the risk of fraudulent activity and is backed by the company's breadth of data resources. The system provides the ability to remotely authenticate individuals without delay, enabling consumers and businesses to quickly and securely conduct business with minimized risk.
About Experian
Experian is the global leader in providing value-added information solutions to organizations and consumers. It has an unrivaled understanding of individuals, markets and economies around the world. Experian provides information, analytics, decision-making solutions and processing services. It assists organizations in understanding their markets and customers and helps them find, develop and manage profitable customer relationships to make their businesses more profitable. Experian promotes greater financial health and opportunity among consumers by enabling them to understand, manage and protect their personal information, helping them control financial aspects of key life events and make the most advantageous financial decisions.
Experian works with more than 50,000 clients across diverse industries, including financial services, telecommunications, health care, insurance, retail and catalog, automotive, manufacturing, leisure, utilities, e-commerce, property and government. A subsidiary of GUS plc with headquarters in Nottingham, UK, and Costa Mesa, Calif., Experian employs 12,000 people in 31 countries who support clients in more than 60 countries. Annual sales exceed $2.5 billion.
For more information, visit the company's Web site at www.experian.com.
The word "Experian" is a registered trademark in the EU and other countries and is owned by Experian Ltd. and/or its associated companies.
CONTACT: Cynthia Baker of Experian Public Relations, +1-714-830-7907, cynthia.baker@experian.com
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