Data and Database Management Software
Thinkstream, Inc. Launches Business Suite Developed to Fight Growing Threat of Identity Theft and Fraud in Louisiana
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Sheriff's Association official says solution will benefit businesses, customers and law enforcement
BATON ROUGE, La., June 25 -- Financial institutions and businesses across the state will have an edge in detecting and stopping fraud and identity theft thanks to a unique set of products rolled out last month by Thinkstream, Inc., a leading software development firm based in Baton Rouge, Louisiana.
The new solutions will offer banks, businesses, attorneys and individuals instant electronic ID verification or driver's license validation, background checks, credit services and access to trial records. Six banks in Louisiana have signed on to pilot the Driver's License Validation product, which is being used by tellers and new account and loan representatives.
The solution is designed to strengthen banks' defenses against the biggest points of fraud -- when new accounts are opened or a transaction is attempted with a forged driver's license.
A transaction usually begins with a request for credentials or other form of identification; e.g. driver's license, state ID or military ID. Often, with no prior contact with the individual standing before them, a bank employee must make a split second decision on whether to accept or reject an ID based solely on its appearance. With no easy, quick way to verify the driver's license is valid or that the information printed on the card is fraudulent, the door is opened for a person to potentially cash a bad check, or empty another's person bank account.
"The days of robbing a bank are not the best way to steal today for smart thugs," said Bobby Gaston, of the Louisiana Sheriff's Association, which is backing the new technology.
"Checks cashed with fake ID's is one way they're committing fraud, but stealing ones identity through hacking into computers is another -- needless to say bank fraud is a major problem in Louisiana and is increasing rapidly," Gaston said.
The Thinkstream ID verification product offers bank personnel instant, electronic validation of a person's driver's license through a secure web application or service, by reading the information from a card scanner or through direct integration into an existing banking application. After a person's driver's license number has been logged in or scanned, Thinkstream will run a query and instantly return the correct information, alerting bank personnel of suspected forgery.
"This technology offers the user instant ability to have as much knowledge of the individual they are facing -- I have total confidence in the software package Thinkstream has put together," he said.
In addition to the ID verification service, products that allow background and credit checks, and access to trial records will be available to businesses and individuals throughout the state and to the rest of the country by the end of the year, Thinkstream, Inc. President and CEO Barry Bellue said.
"These products offer a new era, if you will, of ID fraud protection that will benefit businesses and their customers across multiple industries by enabling them to step up their security efforts to keep pace with these types of fraud schemes," he said.
Bellue said the company was perfectly poised to offer such a system because it already has developed a mature information technology platform that supports criminal justice applications that tie agencies together giving them the ability to rapidly share critical information across organizational, agency and geographic boundaries. Thinkstream has linked over 150 agencies in eight regions of the state of Louisiana, making it the largest civil and criminal information network in the nation, and recently deployed a statewide inmate tracking and emergency classification system (ITEC) in cooperation with the Louisiana Department of Corrections
"As a proven leader in developing software that protects our law enforcement and our communities we're excited to incorporate these business services products," Bellue said.
"Identity fraud is the fastest growing crime in America, costing financial institutions billions per year while turning thousands of their customers into victims," he said. "As a result, a robust and reliable ID validation system has been increasing in demand, and we have delivered."
Gaston believes the technology will not only benefit businesses and their customers, but law enforcement as well.
"Cutting crime off at the start saves investigation costs and also frees up officers to work on other matters," Gaston said. " If we can get some financial returns for reducing fraud and identity theft, it will enable sheriff offices to be stronger financially," he said.
About Thinkstream:
Thinkstream Inc., a leading software development company based in Baton Rouge, Louisiana, specializes in criminal justice applications that tie agencies together securely giving them the ability to rapidly share critical information across organizational, agency and geographic boundaries. The company has linked over 150 agencies in eight regions of the state of Louisiana, making it the largest civil and criminal information network in the nation. The company also operates systems in California, Florida and Texas. Most recently, the company deployed a statewide inmate tracking and emergency classification system in cooperation with the Louisiana Department of Corrections. The ITEC system will eventually give all law enforcement agencies the ability to share and access local, state and federal information about an inmate.
CEO Barry Bellue, who also founded Fifth Generation Systems, a national top 20 software company acquired by Symantec, established Thinkstream over ten years ago. Mr. Bellue heads a team of engineers with over 60 years combined experience in designing Web-based integrated information networks for businesses and criminal justice agencies across the nation.
Thinkstream Inc. is an active member of the Internet Working Group for Justice Integration Committee. Established by the U.S. Department of Justice, committee members contribute their knowledge and experience to promote and implement integrated information systems (IJIS) throughout the country.
For more information contact:
Barry L. Bellue, Sr.
President and CEO
Thinkstream, Inc.
Email: bbellue@thinkstream.com
Phone: (225) 291-5440
Paul San Soucie
Vice President of Customer Relations
Thinkstream, Inc.
Email: pauls@thinbkstream.com
Web: www.thinkstream.com
Phone: (225) 291-5440
Fax: (225) 291-9141
