Identity Resolution Daily

by Douglas Wood, Infoglide Senior VP

On the heels of recent news that the Infoglide-powered TSA ‘Secure Flight’ program has received a 2011 Technology Innovation Award from Government Computer News comes word that FICO, the leading provider of analytics and decision management technology, has announced that it is enhancing its risk management and fraud detection applications by incorporating Infoglide’s market-leading Identity Resolution Engine® (IRE) software. Infoglide’s IRE will serve as the identity resolution engine and link analysis solution across FICO’s suite of fraud detection and risk management products, which include the industry-leading FICO™ Falcon® Fraud Manager for credit grantors and FICO™ Insurance Fraud Manager.

More:  See the announcement here.

Having worked with the leadership team at FICO now for many months, I can attest to their deep underlying commitment to bring only the best analytic capabilities to market. With the tight integration of Infoglide and FICO products, fraud investigators can identify customers with greater precision, and use link analysis to find connections between transactions, people, third parties and discrete fraud events that can reveal previously hidden fraud schemes. The combined capabilities expand the view of the fraud investigator and enable the identification fo more complicated fraud patterns, criminal fraud rings, and networks of collusive participants that might otherwise appear disconnected from the fraud problem.

Infoglide is thrilled to be teaming with an undisputed market leader, and we are already working diligently with their product team(s). FICO will first focus on integrating Infoglide’s capabilities with FICO Falcon Fraud Manager and FICO Insurance Fraud Manager, in order to enable the many users of these solutions to drive more effective fraud investigations and prevent the most complex fraud schemes, often involving multiple individuals and organizations.

As part of the partnership commitment by both parties, Infoglide will be attending FICO World in New York City from November 1 – 5.   I hope to see you there!

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By Mike Betron

Infoglide VP and GM of Social Identity Services

In the hit television series 24, Jack Bauer needed accurate information for split second decisions in “real time.” It was a matter of life or death for the characters in the show - even subtle discrepancies could mean the difference between Bauer trusting someone or deciding that he or she was a terrorist. Knowing the facts - in their most current status - was imperative for him to function. On the show, Bauer could rely on Chloe, his contact at the Counter Terrorist Unit to give him the latest assessment of the situation so he could decide on his next course of action.

For most financial institutions, however, finding a person of interest is not as simple as dialing up Chloe. In a recent survey commissioned by Infoglide to 230 managers, directors, and VPs in charge of managing fraud/risk/security at the top 100 banks in the US,  over a 1/3 of all participants responded that their most critical challenge to solving fraud was their inability to effectively find persons of interest in real time across all of their data. Oftentimes, even when a bank has usable information, they can’t put the pieces together in time to solve the puzzle.

Part of the issue lies in the massive quantities of data that financial institutions have to search through. According to our survey, the average investigator at a bank searched four different systems, with many of the larger banks needing to search over 7 data sets or systems.  

Another issue identified in the survey is the lack of data sharing between departments. For example, less than half of all banks even share a common case management tool across their departments.  Collaborative efforts are either manual or nonexistent for over 50% of all banks. John Doe might be defrauding the commercial side of the bank and laundering his newfound wealth, but the bank is not be able to pinpoint that it is the same person. Where is Chloe when you need her?

Banks that suffer these issues should strongly consider Infoglide Identity Resolution Engine (IRE). With IRE, they can connect to all of their data sources – internal and third party - to search for persons of interest in real time.

The stakes may not be life or death, but with banks under increasing regulatory and compliance pressures, there exists the same Bauer-esque need to make good decisions in real time about the interactions they have with customers.  Missed opportunities to stop fraud and/or money laundering are costly and painful.  Sorry, Chloe… but IRE has your job now.  It provides the real time intelligence, real time threat detection and real time decisions that you used to give to Jack… 24 hours a day.

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By Michael Shultz - Infoglide CEO

Infoglide Software Corporation would like to congratulate their TSA Secure Flight program team in Annapolis Junction, MD, as one of the ten projects chosen for Government Computer News (GCN) “Outstanding 2011 IT Achievement in Government.” As regular readers of this blog know, Infoglide’s identity resolution technology sits as the core risk engine of the Secure Flight program.

According to GCN.com, “The teams behind the winning projects, chosen from a list of more than 200 nominated, share a commitment to drive down costs and displayed the leadership and engineering skills needed to put the power of some of the worlds biggest computer facilities into the hands of individual citizens and professional end users.”

An article on GCN.com explains the program thusly:  “After Sept. 11, 2001, when airlines failed to coordinate a successful watch list system on their own, the 911 Commission recommended TSA take on the challenge. With the Secure Flight Program, TSA put its IT brain trust up against the daily threat of deadly force. The challenges were unprecedented: perform real-time matching for all flights, including reservations made in advance and at the last minute, while permitting airlines to submit data up to 72 hours before departure. Secure Flight set up new processes, data exchanges, applications, IT hardware and infrastructure, and established support systems for a consistent watch-list matching process. The management and technical ingenuity behind the project has stood the test of time for 10 years.”

A leading provider of entity analytics software for critical cross-database ‘Search / Match / Link’ applications, Infoglide Software provides technology that allows single-request searching into multiple databases without the need to move or clean data.  With a best-in-class library of over 50 algorithms accounting for variations in names, addresses, dates and other attributes, the technology points to who’s who… and who knows whom… despite data quality problems and/or deliberate attempts to deceive. 

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