LexisNexis Risk Solutions updates its suite of fraud and identity products

LexisNexis Fraud Intelligence is a non-FCRA solution that assists organisations mitigate new account fraud risk. The new tool can identify applications in real-time that are most likely fraudulent. It analyses hundreds of unique identity characteristics, identity application behaviours, and identity events to provide real-time insight into application fraud risk.

The new tool is delivering a fraud risk score, which provides an up-to-date view that predicts the likelihood an application will result in fraud should the consumer open an account. The score also serves as an indicator that a specific fraud risk requires further investigation.

LexisNexis Fraud Intelligence is currently available in three forms that target fraudulent activity within banks and financial institutions, retail card issuers, and telecom providers. LexisNexis Fraud Intelligence is the first product to launch as a direct result of the company's acquisition of ID Analytics in February 2020.