ID Analytics and IdentityMind Partner to Reduce Online Fraud and Stop Merchant Account Creation Fraud

SAN DIEGO and PALO ALTO, Calif., June 18, 2013 /PRNewswire/ -- ID Analytics, a leader in consumer risk management, and IdentityMind, an on-demand anti-fraud and risk management platform, today announced a partnership to provide eCommerce retailers, acquirers and payment service providers (PSPs) with an integrated solution designed to minimize merchant account risk with improved fraud detection. The solution enables merchants, acquirers and PSPs to leverage the power of ID Analytics' eCommerce suite through IdentityMind's Anti Fraud and Merchant Account Risk Platform—improving online merchants' performance with effective anti-fraud tools and helping acquirers and PSPs manage risk associated with merchant accounts from underwriting to operations.

Online merchants can maximize conversion and reduce false positives by enhancing IdentityMind's Internet identities tracking capabilities with the power of ID Analytics' ID Network®, one of the nation's largest networks of cross-industry consumer behavioral data. The combination of identity data from IdentityMind and ID Analytics provides a much more complete picture to solve the fundamental question in CNP transactions—whether the user behind the transaction is likely authorized or not to use the credit card. Furthermore, online merchants can also incorporate ID Analytics' Transaction Protector™ fraud score as part of IdentityMind's fraud decision engine.

Acquirers and PSPs can evaluate whether merchant account applications are associated with true identities by incorporating ID Score® and ID Score Account Takeover® solutions, helping to stop underwriting merchant account applications associated with stolen identities.

"Fraud is an ongoing battle for online retailers. With the proliferation of new devices consumers are using to make transactions, fraud costs merchants an estimated $3.4 billion per year," said Aaron Kline, director of eCommerce, ID Analytics. "This partnership enables customers to not only qualify new online merchants but also help those merchants fight online fraud by capturing all of the benefits of our eCommerce suite integrated with the profiling power of the IdentityMind solution."

"Fraud continues to be a challenge for eCommerce and merchant account risk is a fast-paced evolving area for acquirers and PSPs," said Jose Caldera, vice president of platform management, IdentityMind. "Real-time validation of individuals' identities is essential given the risk with CNP transactions, and the changes in underwriting practices imposed by real-time online merchant account applications. ID Analytics' eCommerce suite complements the set of identity services provided by our Anti Fraud and Merchant Account Risk solutions providing more effective anti-fraud and risk management."

IdentityMind customers can now take advantage of four specific solutions in the ID Analytics eCommerce suite:

• ID Score® – Delivers a highly accurate, on-demand assessment of the risk of an individual at account opening and throughout the customer lifecycle. ID Score Account Takeover also enables retailers to accurately assess account takeover risk while maintaining positive customer relationships and minimizing costs.
• Transaction Protector™ – A powerful transaction fraud score designed for the eCommerce market, incorporating both identity and online transaction data.
• Transaction Advanced Intelligence™ – A series of attributes which deliver granular, real-time risk insight on an online transaction from the ID Network, for organizations that choose to create custom analytic models and strategies.
• Transaction Takeover™ – The ability to help qualify new merchants and to help IdentityMind customers detect when an online account has been compromised, whether it is on a desktop, mobile or tablet device.

About IdentityMind
IdentityMind™ is an on-demand anti-fraud and risk management platform. IdentityMind™ helps online merchants, Acquiring entities and Payment Service Providers (PSP) stop fraud while maximizing accepting good transactions and minimizing manual review costs. IdentityMind™ tracks Internet Identities based on its patent-pending IdentityMind eDNA™. Internet consumers are passively challenged by comparing the eDNA™ of the owner of the card to the eDNA™ observed at the time of the transaction. Identities are matched across devices, payment instruments, geolocations, etc. For more information, visit http://www.identitymind.com or email pr(at)identitymind(dot)com.

About ID Analytics, Inc.
ID Analytics is a leader in consumer risk management with patented analytics, proven expertise, and real-time insight into consumer behavior. By combining proprietary data from the ID Network^®—one of the nation's largest networks of cross-industry consumer behavioral data—with advanced science, ID Analytics provides in-depth visibility into identity risk and creditworthiness. Every day, many of the largest U.S. companies and critical government agencies rely on ID Analytics to make risk-based decisions that enhance revenue, reduce fraud, drive cost savings, and protect consumers. ID Analytics is a wholly-owned subsidiary of LifeLock, Inc. Please visit us at www.idanalytics.com.

ID Analytics and ID Network are registered trademarks of ID Analytics, Inc. IdentityMind, IdentityMind Platform, IdentityMind eDNA, and the IdentityMind logo are trademarks or registered trademarks of IdentityMind, Inc. in the United States and other countries. All other trademarks and registered trademarks are the property of their respective holders.

SOURCE ID Analytics, Inc.