Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Pioneering Early Detection Of Synthetic ID Fraud

Stockhouse Editorial
0 Comments| April 11, 2022

{{labelSign}}  Favorites
{{errorMessage}}

The world of fraud is constantly evolving, and fraud attack tactics are increasing in sophistication, but a new team up in Canada’s tech space is out to get ahead of that risk by leveraging advanced analytics and AI to detect fraud and minimize exposure.

A leading discovery platform for financial integrity teamed up with a data, analytics, and technology company that helps businesses make critical decisions with greater confidence, on an early detection solution for synthetic ID fraud. This solution helps detect risks by recognizing anomalous patterns, identifying suspicious behaviour in data, and presenting clear, actionable results.

MindBridge’s first-of-its-kind AI solution gives Equifax (NYSE: EFX, Forum) end clients access to synthetic identity detection within their credit scoring products.

Speaking on this news for investors, the head of Fraud & Identity at Equifax Canada Carl Davies said that synthetic identity fraud costs organizations more than $1 billion a year in Canada.

“We're pleased to work with MindBridge to provide additional protection to businesses impacted by synthetic ID fraud. This can help our customers by providing them with richer context and information to make decisions throughout the lending lifecycle, which can ultimately help Canadian consumers.”

MindBridge’s Chief Technology Officer, Robin Grosset added that Synthetic identity fraud is one of the hardest problems to crack in the credit fraud world, but together they have delivered a “uniquely effective solution”.

“We are excited to see the significant results and benefits for Equifax Canada clients as we've seen with products in our other markets. It's yet another proof point that the MindBridge platform is a leading choice for financial risk discovery.”



{{labelSign}}  Favorites
{{errorMessage}}

Comments

No comments yet. Be first to comment!

Leave a Comment

You must be logged in to be able to post a comment.

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today