April 03, 2012
LexisNexis Mitigates Identify Theft and Fraud
LexisNexis (News - Alert) Risk Solutions has launched two new Multi-Factor Authentication (MFA) solutions dedicated to financial services, health care, government and retail organizations. Both will help authenticate individuals who perform repeated high-risk, high-value transactions through remote channels, including the Web, mobile and voice.
The first solution – LexisNexis One Time Password (OTP) – is an authentication method, enabling business and government organizations to have stronger authentication during high-risk, high-value customer transactions.
The second solution – LexisNexis Voice Biometrics – is an advanced biometrics speaker verification system that verifies a speaker’s identity based on their voice. The service is ideal for organizations that process high volumes, high risk transactions remotely or within call centers.
Noting identify fraud as one of the fastest-growing crimes in the United States, LexisNexis cites a recent Javelin Strategy and Research’s annual Identity Fraud Report, according to which total fraud was $18 billion in 2011.
LexisNexis offers a range of identity proofing and authentication solutions, including Flex ID, Instant Authenticate, InstantID, InstantID Q&A, Instant Verify and TrueID.
“In today’s high-risk environment, multiple forms of user authentication are a ‘must-have’ for any organization that relies on compliance and information security for effective operations,” said Dennis Becker, vice president, corporate markets at LexisNexis. “Everything hinges on the true identity of the user, and if identities are not properly authenticated, an enterprise has no assurance that access to resources and services is being properly controlled.”
LexisNexis was in the news last month for launching LexisNexis Early Data Analyzer 1.1, an enhanced version of its innovative electronic discovery software.
Edited by Braden Becker