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Fraud Assessment Companies

• Fraud risk assessment is a tool in which businesses rely heavily on to help them understand and identify any and all risks to their business. There are many companies around the world that specialize solely on fraud risk assessment for these businesses. Ten examples of companies that focus on delivering and managing these tools are provided, along with a brief overview for each.

Forter
 Forter is a U.S. based fraud protection platform providing solutions and expertise in payment protection, account protection and policy abuse protection. They are able to help businesses with these needs by conducting predictive fraud research and modeling. Their focus is to help other companies focus on growing their business without a lot of the worries that come with it.

Emailage
 Emailage is a U.S. based LexisNexis risk solutions company that uses predictive risk scored and email intelligence to help businesses strengthen their payment fraud protection. Emailage's platform can be used alone or can be merged with other fraud platforms. Some of their major clients include GoPro and Versace.

Sumsub
 Sumsub is a UK based company with global coverage specializing in identity and account verification. It is an "all-in-one" platform designed to onboard and verify (authenticate) customers for a business. They pride themselves on being able to allow businesses to grow (faster) by eliminating the ID verification process for them. Sumsub primarily works with fintech, online trading, blockchain-based projects and on-demand economy. Fraud recognition is provided to small and medium-sized companies, corporations and governments across the globe.

Telesign
 Telesign is a US based company specializing in solutions for mobile programmable engagement solutions, data insight and identification of businesses all across the world. They focus on their customer's challenges by using APIs to take measures in preventing account takeover, reducing the number of fake accounts and detecting premium number fraud.

Ravelin
 Ravelin is a UK based company helping businesses worldwide target and understand their payment fraud threats and how to control them. They offer two solutions — Fraud Solution Suite and Accept For Payments. Fraud Solution Suite prevents fraud by using machine learning, rules engine and graph networks. Accept For Payments manages all authorizations and authentications.

Adjust *
 Adjust is based in Germany and is a leader in fraud prevention and the assessing of mobile campaign performance metrics, which allow businesses to boost their mobile marketing. Over 32,000 apps across the world rely on Adjust and their services. Adjust provides solutions for companies in industries such as gaming, finance, travel and e-commerce. Attribution, Analysis, Control Center, Audience Builder, Unbotify and Fraud Prevention are the six different products offered by the company.

Feedzai
 Feedzai is a US based company providing a platform for businesses to oversee financial crime risk and closely observe all payment transactions in real-time. Feedzai offers business solutions worldwide in account opening, transaction fraud and anti-money laundering.


White Ops
 White Ops is a US based cyber security company serving businesses worldwide and is a leader in bot mitigation. The platform offers total protection from sophisticated bot attacks by using technical evidence, global threat intelligence, machine learning and continuous adaptation to verify the humanity of all online interactions. White Ops offers solutions for ad tech, marketing, web security, mobile ad fraud and CTV fraud.

VU Security
 VU Security is based in Argentina and is a multinational leader in security solutions that prevent phishing and other types of online fraud. Security solutions provided by the company include fraud prevention, biometrics, identity protection and risk management.

ID Experts
 ID Experts is a US based company providing identity and privacy protection software and services. Originally the company focused primarily on government and fortune 500 companies. ID Experts is the largest provider of fraud protection products to the federal government and is now available to all companies and individuals in the US looking for data breach services and identity protection.

Digital Fraud and Risk Management Companies
PWC, KPMG, Deloitte, Ernst & Young, Eleven Paths, RSA, Metricstream, Riskberg, and RHTGRC are examples of companies that offer both digital risk identification and management services. These include global consulting firms that have dedicated digital risk management units, as well as companies that offer digital risk management platforms and specialized software solutions.

PWC
 PwC’s digital risk solutions include systems, software, data analytics, automation and controls expertise to enable organizations to achieve higher returns on investment from technologies. It focuses on optimizing digital assets and proactively managing risk.
PWC digital risk management services include (among others) cloud and emerging technology risk and controls, Oracle and SAP risk controls, enterprise insights, and intelligent automation risk and controls.

KPMG
 KPMG, in partnership with Microsoft has developed a Digital Risk Platform, which is an end-to-end solution that helps clients discover, prioritize and act on relevant risks across their organizations. This provides real-time, integrated risk management to operational management at the front-end of the business.

KPMG's Digital Risk Platform enables powerful analytics and automation, integrated and coherent data, aggregated insights, and full transparency.

Deloitte
 Deloitte helps organizations to identify digital risk areas and develop different control measures in accordance with leading standards and industry practices. The focus is on creating, developing and sustaining digital risk strategies.
The company's digital risk management services include digital risk assessment, risk integration, risk strategy, risk and reputation monitoring and establishing a center of excellence.

Ernst & Young
 EY provides assessment and attestation of technology-related business risks and helps organizations to identify, improve and respond to risks from advances in technology.
The company's digital risk-related services include IT audit, attestation, certification, third party management and compliance, contract risk management, and software asset management.

Eleven Paths
 Eleven Paths focuses on understanding and managing digital risks in an agile and automated way.
Eleven Paths provides expertise and tools to help organizations establish the risk management framework, develop policies and procedures, define the governance model and scorecards, map security and compliance risks, and to identify, evaluate, analyze and treat risks.

RSA
 RSA provides digital risk management expertise and services that include integrated risk management, threat detection and response, identity and access management, and fraud prevention.
RSA helps organizations manage cyber risks, secure cloud transformation, manage third party risks, and manage distributed workforce risk

Metricstream
 Metricstream provides a digital risk management solution, built on a scalable GRC platform which enables organizations to face digital risks associated with the enterprise, technology and third parties through reports and dashboards with real-time insights.
The company's focus is on enterprise risk management (related to digitization), IT risk management, and vendor risk management.

Riskberg
 Riskberg helps organizations address digital risks throughout the entire digital transformation journey from the digital strategy stage until benefit realization. This includes risks related to robotics process automation, artificial intelligence, blockchain, cloud computing, and internet of things.
 Riskberg offers digital risk framework designing services, de-risked and secure digital implementation, regulatory compliance for digital assets, and digital risk training.

Waverly Labs
 Waverly Labs identifies its digital risk management system as a "prescriptive, unified, visual approach to identifying, quantifying, prioritizing, mitigating and managing digital risk across the entire organization."

RHT Governance Risk & Compliance
 RHTGRC provides digital risk management services that range from IT General Controls to IT risk assessments, cybersecurity awareness training, and cybersecurity consulting.

White Pages Overview
Whitepages Inc. specializes in collecting data from public sources and compiling the information into comprehensive background checks. These reports are useful for landlords and persons trying to get more information about others. There are a few cases, however, where the report from Whitepages would not be an appropriate screening tool, such as assessing a candidate's suitability for insurance.

Overview of Whitepages Inc.
The company was founded in 1997, and provides a wide range of data to over 35 million people on a daily basis.
Some of its services include Whitepages TenantCheck, which allows landlords to assess prospective tenants, and Whitepages SmartCheck, which gives comprehensive background information.
When persons use Whitepages, some of the information they can expect to find are criminal records, contact information, and professional licenses.

Data Collection Process
Whitepages gets its information from public record sources, such as voters' registration records, licensing authorities, court records, and mortgage documents.
While some public records are easily accessible, some require a requisition process or collaboration with other data collection entities.
Once data has been received, Whitepages will validate and vet the information to ensure that it is accurate and current.

Barriers to Publication
According to Whitepage's terms of service, background checks cannot be requested by persons who are under the age of 18. The information received from Whitepages also cannot be used to contact persons under the age of 18.

Background checks from Whitepages cannot be used to make decisions regarding housing, insurance, credit, scholarships or employment as the company is not FCRA compliant. This compliance would have given them access to more personal information, which is highly controlled.
Persons may also be denied access to Whitepages' reports if the company determines that they are going to use the report to harm, threaten or endanger anyone. Use of the report to contact famous persons or government officials is also prohibited.

LexisNexis
LexisNexis uses technologies such as telematics, LexID, and HPCC systems to collect data on individuals or trends. A detailed overview of the data collection process and any barriers to publication of the data in LexisNexis is presented below.

Overview
LexisNexis combines both information and analytics to collect data necessary for research initiatives by organizations. The company creates vast profiles on individuals and presents that information to clients, among them being insurance companies, law enforcement organizations, and legal professionals.

LexisNexis uses telematics to collect data for insurers seeking to run usage-based insurance (UBI) programs. To source this information, LexisNexis uses tools such as connected car data, smartphone application, and 12 volt (12V) tethered device.  
Through the telematics platform, LexisNexis accesses normalized data from the global platform. It then integrates data relating to driving and filters it to make an accurate representation of driving score.

LexisNexis uses advanced technology to collect data for better identity management. This includes the LexID and the HPCC Systems.
LexisNexis integrates both proprietary linking technology and advanced analytics to connect data points among the available records. This process uses a scalable automated linking technology to a new record. LexisNexis assigns this record with a unique identifier known as LexID.
LexID links information of individuals' typical identification data such as location and credit card use, assets owned, and life events. This video highlights a detailed explanation of how LexID collects information.

The High Performance Computing Cluster (HPPC) system entails the use of architectural software that collects raw data and refines it into rich data for consumption. The platform features an ETL engine, data management tools, query engine, and predictive modeling tools to collect data.
LexisNexis uses HPCC systems uses information available in servers [on-premises or in the clouds] to process and deliver big data. The ELT engine (Thor) deals with data refinery, whereas the query engine (Roxie) focuses on data delivery. This video presents a detailed overview of how the HPCC system works to collect and refine data for consumption.

Barriers
As part of its privacy policy, LexisNexis does not collect or target service to children under the age of 13. This means that LexisNexis does not publish any data pertaining individuals of 13 years and below.
Moreover, LexisNexis cannot publish information on individuals who have signed the information suppression policy. This policy "permits individuals to have certain personal information about themselves suppressed from LexisNexis public records."

LexisNexis Products and Services
LexisNexis offers an array of products and services with two broad categories: legal and professional solutions and risk solutions. Their legal and professional solutions include a wide variety of news and legal databases for research, software for drafting, analytics, and strategy, and market data for company use. Their risk solutions are designed to help specific industries prevent or mitigate risks associated with their consumers or employees.

Legal and Professional Solutions
These products are designed for "law firms, corporations, government agencies, and academic institutions seeking legal solutions, news, and business insights."
Products like Law360 provide intelligence in the form of legal news and analysis from reporters and industry experts on topics like litigation, new policies, corporate transactions, judicial appointments, and trends in the legal industry.

LexisNexis also provides supportive products, such as Lexis Practice Advisor, for those practicing in the legal field; users are given access to practice notes, annotated forms, a published online or print journal, and curated research.

• Other products are meant to support legal professionals as they draft: Lexis Smart Forms provides drafting assistance through an interactive Q&A platform, automatically populated fields in forms instead of manually input data, and sample forms written by qualified attorneys.
• Products like Lexis Advance support users in online legal research through access to a collection of case law, statutes, and regulations; news sources; public records, and 700 million company profiles and documents; additionally, this product uses Shepard’s Citations Service, which integrates analytical tools into full-text authorities and case research results.

• LexisNexis also provides many products designed to support legal analytics needs: Context is a legal language analytics solution that examines case law documents, L ex Machina is a service that provides litigation analytics for insight into case timings, resolutions, remedies, findings, and damages, and LexisNexis PatentSight is an analytics solution that helps companies gain valuable insight into the strength, quality, and value of patents and patent portfolios to maximize the monetization of IP assets.

• Some of their products are geared specifically towards IP law, corporations wishing to file a patent, or patent attorneys: LexisNexis TotalPatent One is patent search software that allows one to search issued patents, published patent applications, and prior art references, while LexisNexis PatentAdvisor is patent analytics software designed to allow users to strategize and support their clients’ or company's patent prosecution strategy, manage their firm’s or company's client portfolio of patent applications, and identify at-risk patents.
• Their Nexis products, including Nexis Newsdesk, Nexis Diligence, and Nexis Daas (Data as a Service), are targeted more specifically at companies, providing users news sources, market data, and research archives for specific industries, regulatory compliance information, and third-party data.

Risk Solutions

• The other products LexisNexis offers are designed for companies and government agencies seeking "data analytics supporting compliance, customer acquisition, fraud detection, health outcomes, identity solutions, investigation, receivables management, risk decisioning, and workflow optimization."
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• These products are designed to help their users prepare to manage change and meet their growing risk management challenges through industry-specific research, advanced technology, and analytics.
• The risks LexisNexis aims to prevent, mitigate, or help companies navigate are identity theft, fraud, money laundering, terrorism, financial crimes, and insurance and government benefit scams.
• For the collections and recovery industry, LexisNexis provides solutions for locating people and assets, maximizing the efficiency of debt collection.
• For the financial services industry, their services focus on credit risk assessment, utilizing and protecting customer data, and dealing with financial crimes.
• For government agencies, their services focus on providing intelligence—data, tools, and technology—necessary for these agencies to prevent crimes, fraud, and terrorism.
• For the healthcare industry, their services include providing solutions for the payer and provider, utilizing claims, consumer, and provider data to reduce risks, maximize cost-efficiency, and better understand and succeed in the market.
• For the insurance industry, their services focus on understanding the market and customers, growing users' businesses, and managing risks.
• For the law enforcement and public safety industry, their solutions utilize public records, cross-jurisdictional agency data, and analytics to predict, prevent, and investigate crimes.
• For corporations and nonprofits, their risk mitigation solutions are designed to increase profitability, maximize operating efficiency, and increase customer satisfaction.

Ekata Competitors - Behavioral Data

• The identity verification technology industry has a long list of players who compete heavily to assist clients both large and small in banking, retail and other sectors involving online financial transactions. Most recently, information-processing companies who specialize in identity verification are increasing their use of artificial intelligence, enhanced machine learning models, fully-automated systems and facial recognition.

Artificial Intelligence (AI) Marks Revolutionary Era in Identity Verification

• More than a few companies in the information technology services industry are investing significant resources into artificial intelligence, including those producing identity verification products.
• The modern AI tools give clients more cross-referencing power than ever, by efficiently pulling customer information from more sources than ever before. Newer sources of information include mobile network operators, social media, and mobile apps.
•  Onfido, an identity verification products firm based in London, was recently named a leading ID verification company for use of artificial intelligence.
• Onfido uses data monitoring, image enhancement, a re-checking mechanism and decision logs to provide accurate identity verification. The technology helps catch fraud faster and adds a self-auditing function for clients.
• In the face of increasing revenue losses for companies that process online transactions, artificial intelligence is an added weapon to fight crime.
• The introduction of artificial intelligence in the digital verification world has provided more consistent risk evaluation protocols, more personalized customer service, and overall transaction process improvements.
•  Signifyd is another identity verification products manufacturer that is implementing artificial intelligence, which combines big data learning and domain expertise to detect fraud.
• The precision of the Signifyd technology is an exciting development in a world where online retail fraud continues to escalate.
• As artificial intelligence continues to grow in prevalence in the identity verification sector, it has helped spawned an influx of "digital native" online retailers whose primary sales venue is through the internet. Digital natives are transforming the retail landscape with companies like Warby Parker, Kylie Cosmetics, Casper and Adore Me.

Reducing the Human Factor

• As the identity verification industry continues to broaden its technological capabilities, more recent developments include the launch of a fully automated identity verification tool by a Palo Alto, Calif.-based company called Jumio.
• The company launched Jumio Go in late 2019, marking the first time a fully automated identity verification solution has entered the market,
• The new product integrates iBeta-certified liveness detection via FaceTec ZoOm, a highly effective fraud deterrent.
• This technology is an important development because it has the capability to complete transactions quicker and more efficiently. One study showed that two-fifths on online consumers abandon transactions midway, citing the length of time as one of the main reasons for not completing the process.
• Another reason that the identity verification industry needs to focus on transaction efficiency in because online markets are growing by leaps and bounds. In the US alone, online marketplace sales are expected to be about $40 billion a year by 2022, according to Coresight Research and Juniper .

A (Clear) Picture is Worth a Thousand Words

• Another emerging focus of identity verification product manufacturers is refining the use of facial recognition to establish user identities.
•  Veriff, an identity verification producer headquartered in Tallinn, Estonia, created its Assisted Image Capture technology to enhance verification pass rates, user conversions and transaction speed.
• The technology provides users with real-time assistance to ensure they submit a high-quality, usable photo and prevent delays in the verification process.
• The technology can help further stimulate small business growth by providing merchants and others with an easy-to use, affordable verification tool.

The Reliability of Biometrics

•  Biometrics have been quickly established as a highly reliable way for companies to verify online user identities.
• Biometrics help combat fraud and identity theft with sensors, IP cameras and pioneering software.
• One company, Acuant of Los Angeles, Calif., is helping to solve the digital identity crisis by using biometrics in facial recognition.