"This patent acknowledges our pioneering technology and recognizes our unique approach in the practical prediction of identity fraud," said Bruce Hansen, chief executive officer, ID Analytics, Inc.
ID Analytics' patented technical approach is achieved through the combination of unique capabilities used to assess risk related to identity fraud. These capabilities include the ID Network(R) - the nation's only real-time, cross-industry compilation of identity information; Personal Topology(TM) - an individual's particular identity characteristics and their connectedness to each other; and ID Analytics' proprietary Advanced Analytics(SM).
The approach employs advanced technology to determine if identity assertions (such as a new account application) are fraudulent, by using complex linking methods based on Personal Topology in conjunction with Advanced Analytics. ID Analytics gathers information from account applications and links the identity elements on those applications to historical application data. These linkages across new and historical data form patterns that become inputs into sophisticated machine learning algorithms. The result of this process is the generation of scores and attributes that reflect the likelihood that the new application is an identity fraud.
Dr. Xuhui Shao, Dr. Stephen Coggeshall, Dr. Tao Hong, Dr. Allen Jost and Dr. Jianjun Xie are inventors of the patent issued to ID Analytics on July 21, 2009.
"Other technologies compare application information with existing database content, looking for matches to known fraud," said Dr. Stephen Coggeshall, chief technology officer, ID Analytics, Inc. "ID Analytics' solutions go much further by examining the complex patterns of how the identity information is being used, which both decreases the number of false positives our clients receive and gives them a more accurate picture of their customers' identities."
For more information on ID Analytics, visit www.idanalytics.com. About ID Analytics, Inc. ID Analytics, the leader in on-demand identity intelligence, protects both organizations and consumers by providing unprecedented real-time visibility into the risk of individuals. ID Analytics pioneered identity-scoring technology. ID Analytics combines three unique capabilities to assess risk and improve the customer experience across all consumer touch points: the ID Network(R) - the nation's only real-time, cross-industry compilation of identity information; Personal Topology(TM) - an individual's particular identity characteristics and their connectedness to each other; and ID Analytics' proprietary Advanced Analytics(SM). Leading communications, financial services, retailing, and healthcare companies, as well as multiple government agencies, trust ID Analytics to provide solutions that drive new revenue opportunities, reduce financial losses, and facilitate compliance with federal regulations. ID Analytics based in San Diego, CA.