TransUnion ranked best in class for its ability to address multiple types of fraud with minimal impact to the consumer. LexisNexis Risk Solutions and Callsign ranked as Leaders.
San Francisco, Nov. 5, 2020 — To reduce identity fraud, financial institutions require a combination of technologies that are complementary and easy to manage. A layered, enterprise-wide authentication solution is the key to sustainable fraud mitigation. Today, Javelin Strategy & Research announces the winners of its 2020 Identity Proofing Scorecard, which focuses on the leading enterprise-wide identity-proofing solutions. The study comprised an in-depth analysis of how identity-proofing solutions address new-account fraud, account takeover, and synthetic fraud with minimal impact on the consumer. The study also reviewed the effectiveness of those solutions to respond to changes or evolution in digital banking.
TransUnion ranked the highest among the 26 solution providers reviewed and emerged as the leader among the 13 providers that stood out for their ability to address multiple types of enterprise-wide fraud mitigation. Callsign and LexisNexis Risk Solutions emerged as Leaders.
“The evaluations focused on the types of fraud mitigated, how the technology operates, analytics deployed and the friction levels for the consumer,” said Tracy Kitten, Director of Fraud and Security at Javelin Strategy & Research. “The digital nature of customer engagement requires identity verification and authentication at various stages of the customer life cycle.”
Javelin’s scorecard report answers questions such as:
- What technologies are available that provide protection against account takeover and new-account fraud?
- What capabilities are available to fraud operations teams to manage identity-proofing technologies?
- Is the industry prepared for change in how digital fraud occurs?
- Identity Fraud in Three Acts: A Consumer Guide, October 2020
- Identity Fraud in the Digital Age, October 2020
- 2020 Identity Fraud Study: Genesis of the Identity Fraud Crisis, April 2020
- 2019 Identity Protection Service Provider Scorecard, February 2020
- more -
Javelin Strategy & Research helps its clients make informed decisions in a digital financial world. It provides strategic insights for financial institutions, government, payments companies, merchants, fintechs and technology providers. Javelin’s independent insights result from a rigorous research process that assesses consumers, businesses, providers, and the transactions ecosystem. It conducts in-depth primary research studies to pinpoint dynamic risks and opportunities in digital banking, payments, fraud & security, and lending. Escalent acquired Javelin Strategy & Research in December 2019. For more information, visit https://www.javelinstrategy.com. Follow us on Twitter and LinkedIn.