Accertify® and ID Insight Partner to Help Online Merchants Detect Fraud
CHICAGO, IL and NORTHFIELD, MINN - March 3, 2008
Accertify's Interceptas® solution integrates industry-leading tools for managing fraud risk in address mismatches.
Accertify®, a provider of leading-edge credit card fraud prevention solutions to online merchants, and ID Insight, the industry leader in assessing and managing the risks associated with addresses, today announced a partnership to help web retailers reduce fraud losses and identify transactions involving identity theft.
Under the partnership, Accertify will provide ID Insight's AddressWatchSM and Safe2ShipSM as a part of its Interceptas solution to help merchants detect cases of credit-card account takeover linked to fraudulent changes of address. Interceptas is the first integrated platform designed from the merchants' perspective for combating card-not-present fraud, enabling the complete fraud prevention process to be managed with one comprehensive and highly flexible solution.
AddressWatch contains the foremost listing of the highest-risk addresses and delivery points in the U.S., U.S. Territories and Canada. Methodically compiled and maintained unlike any other data source of its kind, AddressWatch provides businesses with a powerful resource for protection against fraud. Armed with a superlative collection of address - related data points and breakthrough analysis, Safe2Ship goes further than any identity verification or authentication solution available today, bringing informed and definitive resolution to high-risk transactions.
"Each year nearly one in seven American households changes its residence. Virtually all identity theft and account takeover cases also include a change of address. The challenge for merchants is to determine when changes are legitimate or the result of fraud," said Jeff Liesendahl, CEO, Accertify. "By integrating ID Insight, Interceptas is able identify suspicious patterns based on demography, dwelling types, distance metrics, criminality statistics and address velocity. This helps customers to quickly and efficiently minimize the fraud risk involved in address mismatches."
"No single fraud detection tool is built to spot every fraud permutation, leaving merchants with no choice but to increase the number of tools used to combat fraud," said Adam Elliott, President, ID Insight. "Accertify has developed an extremely comprehensive and effective platform that incorporates the most effective fraud prevention tools."
"We're excited to have our AddressWatch and Safe2Ship services integrated with Interceptas," Elliott said. "Accertify is committed to delivering all of the tools required to win the fight against online fraud, enabling online merchants to reduce deployment and investigational time and expense, identify more fraud, and reduce the number of orders that are held up for manual review."
About ID Insight
ID Insight is the industry leader in assessing and managing the risks associated with addresses. Based in Northfield, Minn., the company combines its massive collection of data on people and addresses with patented analytics to help companies reduce fraud losses. ID Insight provides next-generation verification, authentication, and fraud solutions to financial services companies, credit issuers, retailers, online merchants and wireless providers nationwide. For more information, visit www.idinsight.com.
Carol Jouzaitis for Accertify
Brian Bellmont for ID Insight
Accertify, Inc. is the first company to focus on developing fraud prevention tools and strategies from the perspective of merchants that accept 'card not present' transactions. That focus led to the development of Interceptas®, which applies state of the art automation to every step in the merchant's process of managing credit card fraud exposure. Accertify exemplifies a constant commitment to maintaining the best in fraud prevention strategies, and its management team combines complementary skills from fraud management, business software development, accounting and legal to assure that its customers receive the most comprehensive, cost-effective solution to credit card fraud available.