MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--DataVisor, a company that delivers the most sophisticated Artificial Intelligence (AI) powered fraud management solutions, today announced a partnership with Equifax, making the global data, analytics and technology company its primary consumer identity data partner. DataVisor will enhance and extend its market-leading behavior analytics and fraud detection solution by combining rich consumer identity data from Equifax with powerful AI signals, for zero-lag detection and a frictionless customer experience.
DataVisor will integrate Digital Identity Trust, Secure Multi Factor Authentication (MFA) and Account Verification solutions from Equifax into its next-generation fraud detection platform, enhancing its fraud models for improved detection accuracy and enabling data enrichment features for end-clients globally. When layered together, these Equifax solutions can provide a 90% reduction in fraud risk and a 30% reduction in operational overhead, according to analysis conducted by Equifax.
Used alongside DataVisor fraud models, the Equifax identity data, including credit, utility, mobile phone, email and global device consortium data, will provide enhanced authentication and Know Your Customer (KYC) capabilities to enable fraud teams to accurately detect and prevent identity theft while reducing false positives that prevent legitimate customers from completing transactions.
“With the hypergrowth of digitization in the COVID-19 era, organizations are launching innovative online products to market more quickly — and with them comes a higher risk of fraud,” said Yinglian Xie, Co-founder and CEO, DataVisor. “Fraud can cripple a company’s ability to capitalize on new product introductions as organizations scramble to remediate the damage of an attack and gain back customer trust. However, introducing friction into the customer experience can drive away customers and impact business growth. Through our partnership with Equifax, we can now provide advanced identity verification capabilities along with instantaneous and robust identity theft protection, to stop fraudsters while ensuring good customers have a seamless experience.”
“Fraud losses are expected to grow to more than $600 billion by 2023. For businesses to protect both themselves and their customers from the well-orchestrated tactics of fraudsters, a layered approach to fraud detection is critical,” said Joy Wilder Lybeer, U.S. Information Solutions Chief Revenue Officer and Senior Vice President of Global Partnerships at Equifax. “We are pleased to partner with DataVisor to make our robust identity and fraud prevention solutions an integral part of the DataVisor platform and provide customers with the additional insights they need to help combat fraud and minimize losses.”
Built on industry-leading core technologies and harnessing an extensive catalog of open APIs, DataVisor’s next-generation fraud detection solution uses advanced machine learning and features engineering and graphing technology to correlate fraud signals and surface suspicious patterns, whether known or unknown. The solution analyzes attributes such as user behavior, IP address, email and device information against a Global Intelligent Network (GIN) of insights gathered from more than 4.2 billion protected accounts and 800 billion events across industries, enabling DataVisor to derive features and fraud attributes that can be applied to its portfolio of customers for increased fraud detection.
The partnership comes at a time when organizations must prioritize customer experience and digital growth while also balancing the risk of financial losses resulting from fraud. Analyzing this vast collection of data alongside rich identity data from Equifax will enable DataVisor customers to benefit from robust identity verification, reducing the risk of identity theft and enabling customers to launch innovative products without worrying about fraud.
For more information about DataVisor’s digital fraud solutions, visit www.datavisor.com.
About DataVisor
DataVisor is the leading fraud detection company powered by transformational AI technology. Using proprietary machine learning algorithms, DataVisor restores trust in digital commerce by enabling organizations to proactively detect and act on fast-evolving fraud patterns and prevent future attacks before they happen. Combining advanced analytics and an intelligence network of more than 4.5B global user accounts, DataVisor protects against financial and reputational damage across a variety of industries, including financial services, marketplaces, e-commerce, and social platforms. For more information visit www.datavisor.com
