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Home Federal Savings and Loan selects Edentify risk management system

14 July 2006  |  2955 views  |  0 Source: Edentify

Edentify Inc. (BULLETIN BOARD: EDFY) , a leading provider of identity management solutions, today announced that Home Federal Savings and Loan has selected Edentify's proprietary technology as its primary identity risk management solution to detect, prevent, and monitor fraud for the bank's new checking account opening desks at its 5 offices.

Edentify's risk management solution for Home Federal Savings and Loan consists of three products using Edentify's latest technology upgrade, IDBenchmark 2.0:

  • IDAssess, which performs a complete scan of Home Federal Savings and Loan's existing database of customers, and provides the risk score associated with each customer's identity
  • IDScreen, which verifies and scores the identity of every new Home Federal Savings and Loan applicant before the bank accepts the applicant for business
  • IDAlert, which continuously monitors the risk score of Home Federal Savings and Loan's existing customers, and alerts the bank if any changes occur

"The deployment of our risk management solutions to Home Federal Savings and Loan further demonstrates how Edentify's technology is the preferred solution in detecting and preventing identity fraud at the institutional level," says Terrence DeFranco, CEO of Edentify. "Small, community banks like Home Federal Savings and Loan are just as vulnerable to fraud attacks as large financial institutions, and the need to protect them is just as important, using the best tools and technology. By utilizing these products, Home Federal Savings and Loan positions itself on the cutting edge in protecting itself and its customers from the ravaging effects of identity fraud."

Edentify's detection and prevention technologies deter potentially fraudulent activity before it occurs to let banks focus their resources on only those identities determined to be a risk for the organization. Through Edentify's monitoring technology, Home Federal Savings and Loan receives reliable notification when a customer's identity is manipulated or stolen, and can take immediate action to mitigate the damage perpetrated when the identity is compromised.

"Every 10 seconds a thief steals someone's identity," says Darryl Akers, CEO of Home Federal Savings and Loan. "By implementing Edentify's technology, we are in a much better position to minimize the loss associated with identity theft and related crimes. What's more, Edentify's solutions will help us protect our customers and assets from these thieves, bringing us one step closer to winning the fight against identity theft and fraud."

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