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Breach Clarity offers financial institutions a breach risk intelligence platform

Wednesday 19 February 2020 12:44 CET | News

Fraud prevention and detection tech company Breach Clarity has developed a new ML platform for financial service providers to enable highly targeted protections for customers.

The company analyzes and scores every publicly reported US data breach based on more than 1,000 factors, and its platform offers two sets of tools: one for the provider and one for the consumer. Breach Clarity Premium for financial services solves several of the most common problems faced by banks, credit unions, card issuers, and other financial providers after a public data breach. This follows the launch of BreachClarity.com, a consumer site that offers no-cost access to a searchable database of breaches, their respective Breach Clarity Scores, and the most relevant protective actions.

For the provider, Breach Clarity Premium generates:

  • Clarity around impacted customers and stolen data – The platform factors the types of PII exposed in any particular breach to predict the types of identity fraud risk it creates;
  • Easier security activation for customers – Breach Clarity Premium plugs seamlessly into online and mobile banking apps to create an event-driven pathway for customers to activate those controls;
  • Reduction in contact center volume – Breach Clarity Premium helps address customers’ concerns and questions after a data breach, eliminating the need to engage the financial provider through other channels.

For the customer, Breach Clarity Premium provides:

  • A trusted alternative to today’s onslaught of news related to identity scams and fraud;
  • Information on the risks created by each data breach affecting them, including a Breach Clarity Score and incident-specific action steps;
  • A custom breach history that includes all breaches impacting the customer;
  • The ability to locate breaches the customer may be unaware of using only their email address.

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Keywords: Breach Clarity, financial institutions, breach, risk, intelligence, ML, financial services, data breach, cards, fraud, identity
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions