Press Release 01/11/2011
 
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CLEARWATER, FL – January 11, 2011 – ID Analytics, Inc., a leader in consumer risk management, and Clarity Services, Inc., a consumer reporting agency, have expanded their relationship to deliver solutions that fine tune fraud risk decisioning for underbanked consumers.

The two companies partnered in 2008 to offer Clarity’s Clear ID Fraud™ powered by ID Analytics’ ID Score® Action to provide organizations with unique visibility into the fraud risk of consumers, including the underbanked. Building upon that success, Clarity now offers ID Analytics’ ID Network® Attributes™, a solution that strengthens organizations’ fraud detection systems with insight based on information within the ID Network—the nation’s only real-time cross-industry compilation of identity information.

“In today’s competitive and challenging credit landscape, underbanked consumers represent an important market opportunity for financial institutions,” said Dr. Stephen Coggeshall, Chief Technology Officer, ID Analytics. “ID Analytics provides granular visibility into the risk of these consumers so that financial institutions can make more informed decisions and consumers can gain access to the credit they deserve.”

The combined solution will aggregate consumer identity behavior data from various sources such as payday and installment loans, as well as rent-to-own transactions. In a challenging credit market, this enables organizations to gain the most specific insight available on potentially fraudulent activity and improve the overall lending process.

“This partnership with ID Analytics’ technology allows us to provide our customers with a highly predictive view of a consumer,” said Brian Ketelsen, Chief Operating Officer, Clarity Services. “Our financial lending customers can use this information to improve the decision-making process, reduce high-risk lending and better service consumers.”

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