Data and Database Management Software
Software targets financial risk managers.
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Press Release Summary:
IDBenchmark(TM) v2.0 uses pattern recognition and fraud detection technology to derive composite risk score for intentional identity fraud and manipulation. Software provides suspect versus confirming records, when identity was established and its data source, and data validation and levels of risk associated with each person's identity. Real-time 24/7 transaction processing and Integration with Microsoft's SQL Server 2005 Data Management Facilities are included.
Original Press Release:
Edentify Launches Next Generation of Leading ID Fraud Detection and Prevention Software
Edentify's IDBenchmark(TM) 2.0 provides financial risk managers with new, comprehensive tools to pinpoint the level of risk associated with each person's identity
BETHLEHEM, Pa., June 29 / -- Edentify, Inc. (BULLETIN BOARD: EDFY) , a leading provider of identity management solutions, today announced the release of IDBenchmark(TM) 2.0, a major upgrade of the industry's leading ID fraud detection and prevention software. This full version release includes several key advancements that give institutions greater ability to accurately determine the level of business risk associated with a person's identity.
Available in July, version 2.0 of IDBenchmark(TM) uses patented advanced pattern recognition and fraud detection technology to derive a composite risk score for intentional identity fraud and intentional manipulation. This new version performs identity screening 200 percent to 300 percent faster than earlier versions, includes an intuitive user interface, and provides in-depth reports of an identity's risk factors, including historical details about suspicious behavior.
IDBenchmark(TM) 2.0 uses multidimensional candidate ratings to evaluate an identity's information from several new perspectives. This process generates an overall risk assessment that provides banks and financial institutions with an unparalleled level of detail available with regard to the types of risks associated with each person's identity, and the environment in which a manipulation occurred. These expanded ratings include:
o Suspect Usage Ratios & Synthetic ID Detection shows the number of suspect versus
confirming records observed for each candidate. (A Synthetic ID is an identity for
which there are neither confirming nor suspect records.)
o ID History Profile provides activity dates about when an identity was established,
updated, and its data source.
o Automated Data Validation Analysis flags inconsistencies across input parameters
and related data points.
o ID Incidence Level totals the number of observed incidences for suspect and
confirming identities, and allows customers to spot synthetic IDs.
o Blended ID Risk Ranking provides a risk score based on an analysis of all these
factors.
Other new features of Edentify's IDBenchmark(TM) 2.0 include:
o A state-of-the-art XML Gateway and API (application programming
interface) provides real-time 24/7 transaction processing.
o An Enhanced Architecture provides framework for rapid, custom
enhancements.
o A Unified User Interface accesses all main software processes.
o Performance Enhancements boosts performance three-fold compared to
earlier versions, significantly reducing the time required to process ID
assessments and allowing for faster delivery of real-time results.
o Integration with Microsoft's SQL Server 2005 Data Management Facilities
allows for complex data conversion and analysis without the need for
additional tools or expertise.
o Simplified Licensing in the development of data input/output functions
in the software's core modules eliminates the need for additional vendor
software, and results in an expected accumulated company savings of up
to $400,000 over five years.
"With Edentify's IDBenchmark(TM) 2.0, risk managers now have the fastest, easiest to use, and most robust identity management and fraud detection system available today," says Terrence DeFranco, CEO of Edentify. "By utilizing our IDAssess, IDScreen, and IDAlert products using the new IDBenchmark(TM) technology, risk managers can make more informed decisions about whether to accept an applicant as a customer and, if so, more precisely gauge the level of risk they are assuming in doing so throughout the life-cycle of the account. By implementing this version of our technology, financial institutions are in a much better position to minimize the loss associated with identity theft and related crimes, and, in turn, reduce the potentially devastating effects that this crime has on its customers."
About Edentify
Edentify, Inc. ('Edentify') was formed in August 2004 with the objective of becoming the leading organization in the field of developing and deploying data analysis technology solutions for preventing identity theft and fraud. It is currently a later development-stage company and expects shortly to begin a period of growth. Edentify will seek to fulfill its goals by analyzing the means by which identity crimes are perpetrated and through the development of new technologies and procedures to assist corporations, the government, and consumers in the fight against identity fraud and related crime. Edentify owns the intellectual property rights to two strategic approaches towards the detection and prevention of identity fraud. One is a patented information- based approach that analyzes identity data information for individuals in large databases, and is capable of detecting and scoring incidences of identity manipulation and potential theft (Identity Quotient Index(TM)). Edentify will continue to market this technology to the financial services industry, as well as to large healthcare organizations and local, state, and federal government agencies. The second approach, which is still under development, is a biometric technology that will be marketed through and is named after our wholly-owned subsidiary, InMotion Biometrics, Inc. ('IMB'). This novel set of algorithms combines face and voice recognition techniques for authenticating the identity of an individual. Additionally, the system is designed as a multi-modal platform capable of combining the reading of two or more biometric technologies simultaneously. Edentify is based in Bethlehem, Pa.
Source: Edentify, Inc.
CONTACT: Company contact: Terrence DeFranco, Chief Executive Officer, Edentify, Inc., +1-610-814-6830, or TmDefranco@Edentify.us
