Acxiom, TransUnion Introduce Fraud Management PlatformBy Channel Insider Staff | Print
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Technology partners introduce business intelligence solution to address $8.6 billion identity theft problems.Government and industry sources say fraud losses in the financial services, telecommunications and insurance industries is a multi-billion dollar problem. Identity theft alone reached $1.5 billion in 2002 and is expected to grow to $8.6 billion by 2006, according to a Federal Trade Commission study.
Longtime partners TransUnion, a Chicago-based solutions provider specializing in business intelligence and commerce, and Acxiom Corp., a customer and information-management integrator, have introduced a technology solution to the problem.
The Fraud Management Platform combines TransUnion's and Acxiom's multiple reference databases to verify a consumer's identity at any point of sale, including call centers, Web sites,and credit applications with TransUnion's analytics expertise.