Account Takeover is Speeding Up

During the turn of the century, account takeover became front-page news and a particular scheme ultimately led to the development of the Fair and Accurate Transactions Act (FACTA) Red Flags Guidelines in 2008. The scheme, which created the fallout, was …

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ID Verification: A New Paradigm

Historically, ID verification solutions have been deployed to verify a consumer’s identity. Whether it is a new loan application, credit card application, new checking account or other, the financial institution has relied on ID verification solutions to confirm that the …

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ID Verification: The Current and Flawed State

Much has evolved since the enactment of the Bank Secrecy Act, and the majority of financial institutions have a relatively simple process when it comes to ID verification. While this process is straightforward and meets compliance requirements, it is by …

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ID Verification: The History of “Knowing Your Customer”

Not long ago, verifying the true identity of customers meant that financial institutions ran an off-the-shelf ID verification (IDV) solution and simply confirmed that all the identity credentials presented had been seen before. If the information checked out, then it …

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Date Posted: May 5, 2016 Author: Jack Sundstrom Category:   Featured, IDI Blog,

Credit Application Address Discrepancies: Separating the wheat from the chaff

“Separating the wheat from the chaff” is an old expression that describes situations where you want to keep things of high quality and discard things of low quality. In this old-time idiom, the wheat is the good stuff and the …

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Trying to solve today’s Address Change problems with yesterday’s tools

In a well-aged Minneapolis neighborhood, not far from my office, there is a typewriter repair shop. Every time I drive by, I find myself peering into the shop windows looking for signs of life. I certainly wish the owner of …

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