Address Analysis

You cannot ignore statistics. Nearly 80 percent of identity fraud involves a change of address; the same studies show that 25 percent of new account applications involve a new address.

Acquiring new accounts and preventing fraud in your existing customer base can carry a large price tag, but it does not have to. Address Analysis enables financial institutions to efficiently identify changes of address that may be indicative of fraud – whether on a new account application or on an existing account.

Address Analysis, provided by ChexSystems, Inc., utilizes powerful algorithms and a unique collection of predictive data sources. The algorithms compare old and new addresses against the data sources to provide metrics that include fraud, demographics, and basic address characteristics to the Address Analysis application. This data, coupled with velocity checks and other key indicators, are then passed through a scoring engine that provides a highly indicative score indicating the likelihood of an identity theft or account takeover.

Using the score and the data provided by Address Analysis, your institution may then review suspicious account openings and address changes in priority order with the wealth of returned information. The powerful scoring models used in Address Analysis have been developed using real world data covering millions of address change transactions. Leveraging hundreds of possible combinations of events, the models used in Address Analysis provide superior protection for your account holders and for your institution while minimizing the time spent reviewing false-positives.

For more information on the products and services available from FIS Risk, Fraud and Compliance Solutions, call 800.822.6758 or e-mail us.