Fiserv ITI integrates Acxiom's identity technology into Premier software
20 July 2006 | 2354 views | 0
Source: Fiserv ITI
Fiserv Inc. (Nasdaq: FISV) announced that its Information Technology Inc. (ITI) business unit has integrated Acxiom Insight Identify into its Premier Platform account opening software, arming new accounts staff with technology that offers access to unmatched data and analytic resources.
Developed by Acxiom Insight, the risk mitigation division of Acxiom Corporation (Nasdaq: ACXM), Insight Identify also reduces human error, enhances compliance with regulatory customer identification requirements and decreases identity theft.
"Losses stemming from fraudulent activity are painful enough for bankers without having to pay regulatory penalties resulting from error and noncompliance," said Bob Michaud, ITI senior vice president and general manager of the company's Branch Automation operating unit. "This solution eases both those financial risks by helping to eliminate human error when verifying identification and by lowering risk through a refined screening process."
Insight Identify instantly cross-references applicant information, such as name, address and Social Security number, against Acxiom's extensive consumer data. The program enables a second-level risk assessment by searching additional databases where risk elements exist, including liens, bankruptcies, judgments, property and criminal records.
"We're pleased to have the opportunity to assist ITI clients in their fight against one of America's fastest-growing crimes," said Acxiom Insight CEO Ron Fournet. "Identity theft has become a front page concern for Americans in recent years and Insight Identify, with its superior data and analytics, is the most sophisticated anti-identity theft technology available today."
Insight Identify also meets the requirements for an effective customer identification program to ensure compliance with the USA Patriot Act and similar regulations.