In today’s highly volatile financial environment, risk comes in many different forms. By deploying innovative and customized risk analytics, DataX provides each industry we serve with actionable business intelligence to mitigate that risk. Businesses must identify which data sources provide deep insight into the behavioral payment patterns of their customer base.
Mitigate your risk with the next generation of authentication tools from DataX!
Comprehensive Data Lowers Risk. Empower Your Credit Decisions.
The Industry’s Most Comprehensive Repository of Information On Specialty Finance Consumers
With equitable access to the top industry leaders in specialty finance and additional unique lenders who exclusively report to DataX, our report encompasses everything needed to make the right lending decision, often before slower reporting bureaus are aware that a consumer's credit worthiness is at risk. Gauge how often consumers open loans, as well as how much to lend based on past performance.
Report Sections include:
- Application Information – Credit Header Data
- Conflict Indicators – Risk & Fraud
- Unique Identifiers – Consumer Stability
- Tradeline Summary – 7 Years Detailed Activity
- Payment Details – 7 Years Payment Performance Information
Streamline Your Digital Application Process, While Ensuring A Safe And Seamless Customer Experience.
With the rapid growth of consumers conducting business online, especially via mobile devices, companies look for ways to improve their online customer experience to limit application abandonment and increase conversions, without introducing additional fraud risk. In order to capture these consumers, service providers need an efficient, safe, and user friendly application process.
This is where ID Connect can help by auto-populating a consumer’s information into online forms all while verifying the individual’s identity and performing a fraud risk assessment.
How does ID Connect work?
Once a consumer initiates a transaction, ID Connect requires minimal information to be collected from the consumer allowing for the application to be completed in seconds whether on a desktop or mobile device, all while performing a risk assessment.
After the questions are passed, the application is auto-populated with their information resulting in a seamless enhanced experience for your customer.
Isolate Fraudulent Activity To Pinpoint Your Most Profitable Consumers
With advanced technology to analyze disparities between IP addresses, time zones and geolocation, in conjunction with user behavior and fraudster behavior, FraudScan isolates fraudulent activity before additional verification is required and unnecessary costs are accumulated – resulting in larger profits.
Key Product Highlights and Features
- Identifies exact machine location and cross-references with database to flag risky transactions
- Bypasses proxy IPs and goes directly to the machine’s source to establish actual IP and geolocation
- Collects data on all internet-enabled devices including smartphones, tablets, netbooks and more
- Provides businesses, in real time, the ability to deny applications and leads before acquiring or processing potentially fraudulent data
- Captures machine data on over 1 billion devices worldwide and tracks 1.5 billion associations between accounts and devices across multiple industries globally
Reduce Your Exposure To Fraud With The Next Generation Of Real-Time Identity Verification Tools.
- Enables quick, confident, and objective decisions about a consumer’s identity
- Employs advanced analytics and record-linking technology to provide more robust, accurate and real-time results
- Measures the strength of the relationship among “in-wallet” data elements by cross-checking consumer input against billions of unique records from both internal and public sources
- Comprehensive Verification Index (CVI) Score – A calculated numerical score of 0-50 based on the match rate of Name-Address-SSN, Name-Address-Phone
- Verifies consumer identity, using Name, Address, SSN, DOB and other data elements, including the OFAC check for US Patriot Act compliance
Whether you aim to prevent fraud, reduce risk or profitably grow your business, trust DataX to customize a verification solution for your needs.
Improved Accuracy With Maximum Verification
Utilize unique cross-industry data to confirm the authenticity of an applicant
Comprised of up-to-date unique performance data from over 300 million consumers, C360 verifies identities other sources cannot. Effective as either a primary verification tool or as an additional screen prior to manual review.
HOW DOES C360 WORK?
C360 analyzes personally identifiable information (PII) and provides:
Verification – which PII elements were successfully verified, as well as those that were unverified and still need to be confirmed with the consumer. Also provides alternative data, such as: phone number, address.
Letter Grade – Letter grades are determined by the match strength of the PII to cross-industry real-time data, risk level, and OFAC lists. Letter grades of A-F, with I for insufficient data (unverifiable).
Return Codes – codes that describe specific conditions observed within the identity, such as: address match to a list of prison addresses, PO box or private mail facility.
Protect Your Business By Taking Preventative Action In Real-Time With The Most Up-To-Date And Insightful Bank Account Information!
- Validate banking information up-front
- Prevent errors at the point of capture
- Reduce costs associated with returned items and collections
- Verify the legitimacy of a bank account and routing number (ABA)
- Identify potential fraud before it occurs
- Verify the status of the bank account as reflected in real-time based on the last processing day's cycle
- Participating: Majority of US financial institutions reporting in real-time
- Non-Participating: i.e. Some Regional Banks, Credit Unions reporting in batch.
The DataX Bank Account Verification service also alerts you to high-risk accounts and provides valuable, detailed information including:
- Closed account
- Non-transactional account
- Account not located
- Repeat offender of NSF
- Non-Demand Deposit Account (DDA)
An Unprecedented Level Of Insight For Smarter Lending Decisions.
Knowing your customer’s banking behavior is crucial and can mean the difference between establishing a long term relationship with a valued customer and exposing yourself to fraud.
Below are just a few of the main attributes of the comprehensive FCRA regulated ChexAdvisor Report:
- Real-time inquiry data provided by the nation’s financial institutions
- Gain insight into consumers with a thin-file, limited account history and experience, or who are new to the specialty finance space
- Recognize consumers who frequently open/close bank accounts
- Know the likelihood of a consumer’s account being forcibly closed
- Identify persons with a history of fraud closures
- Cross reference bank account details for insight into bank account age
What is it?
- A supplemental FCRA regulated risk score that introduces a new dimension to the assessment of consumer fraud and credit worthiness – STABILITY
- Provides unprecedented visibility into consumer risk
- Dynamic repository of 2 trillion aggregated data elements
- Includes more than 2 billion unique identity elements & receives an average daily flow of 54 million consumer data elements
- Over 2 billion historic consumer transactions
Contains real-time, cross-industry data about:
- Credit Applications
- Card Transactions
- Payments – Utility, Retail, Card, etc.
- Change of Name/Address
- Telephony – Wireless/ Land
Consumer Contact Information At Your Fingertips!
With nearly 31.6% of U.S. households dropping their landline phones in favor of mobile phones, finding a reliable source of consumer and business information is a major challenge. Contact Quality Rating (CQR) provides the most accurate, comprehensive, up-to-date consumer and business data in the industry – updated every 15 minutes from 250 data sources.
How does it work?
CQR verifies and categorizes whether a name, address and phone number (Mobile, VoIP, Private) are linked together, thus providing critical insight to quickly identify and move low-risk transactions into the approval process faster.
Benefits of CQR:
- Improve conversion rates with unmatched coverage of Mobile, VoIP, Landline and Nonpublic phone Information
- Know Your Customer- differentiate those with solid intent to pay from consumers who intend to default
- High-quality consumers generally provide good contact information
- Better equipped to comply with Telephone Consumer Protection Act (TCPA) requirements
- Approve applications and purchase leads with verified contact information
- Screen potentially false identities early in the application process
- Prioritize approved applications and purchased leads for manual review
Locate Your Customers With Precision.
With the most extensive up-to-date repository of consumer contact information.
In today’s increasingly mobile society, chances are, if you are having problems locating or connecting with someone, your contact data could be outdated or inaccurate. And that’s where DataX can make all the difference!
Our ContactTrace Solution Provides:
- Home, cell, and POE phone number append service
- Proprietary telephone number data utilized from the DataX database
- 90 day look back for alternate telephone numbers
- Secure batch file process via SFTP
- No hit, no charge – means you are only charged when we provide new information
- Pay per ‘hit’ regardless of how many alternate phone numbers are provided for output
- Assist with employment verification
- Essential process to boost collections, close opportunities, and more!
DataX offers a full range of sophisticated analytics for the financial services industry, including:
- Underwriting Rules: Pre-Launch Testing, Post-Launch Reviews
- Positive Decisioning: Risk Segmentation, Business Rules
Profit and Loss Analysis:
- Cost Per Accepted
- Cost Per Funded
- Cost Per Inquiry
Monitoring and Testing:
- Stability Reporting
- Accept/ Fail Rate Analysis
- New Services & Techniques
- Industry Trend Analysis
- Consumer Behavior Analysis