Consortium Capability from ThreatMetrix Blocks Complex Fraud by Solving the Challenge of Real-Time Data Sharing Among Customers
Posted March 14, 2019
SAN JOSE, California – March 14, 2019 – ThreatMetrix®, A LexisNexis® Risk Solutions Company, is proud to announce its Consortium capability, which enables a trusted data exchange between ThreatMetrix customers, to better tackle complex and evolving fraud methods.
Businesses in the same industry and geography have a shared interest in collaborating and exchanging fraud data, in order to more effectively protect against organized cybercrime activity targeting their sector. The Consortium capability offered by ThreatMetrix offers a new way for organizations to implement direct information exchanges among trusted customer groups. This extends the capabilities of the ThreatMetrix Digital Identity Network, enabling near real-time sharing of data and intelligence, and more accurate risk assessments that better reflect current fraud activity.
This capability to share information is operationalized in ThreatMetrix policies, helping organizations increase fraud detection rates and block fraud specific typologies, while reducing challenge rates for trusted end users. Through tokenization and maintaining a separation of customer data, this can be achieved without privacy restrictions.
“Our customers have expressed that they want to unite and share information about bad actors, allowing them to more effectively fight fraud,” said Alisdair Faulkner, chief identity officer, LexisNexis Risk Solutions. “ThreatMetrix’s Consortium functionality enables more targeted real-time risk assessments, while maintaining logical separation of consortium member data. Customers within a specific industry and/or region can share negative and positive data attributes, letting ThreatMetrix facilitate the process. With cybercriminal networks working together, it’s important that businesses do the same to create the most effective risk decisioning processes.”
Key Consortium customer benefits include:
- Near real-time data sharing across organizations to provide the most accurate intelligence on fraud activity targeting an industry, a geography or even disparate ThreatMetrix customers that are being targeted by the same fraud groups
- Enhanced fraud detection policies, which are informed by intelligence from other organizations whose risks closely correspond
- Ability for large, complex organizations to create an enterprise level consortium in the ThreatMetrix platform where they can share consortium data of their own, overcoming organizational siloes
- Resellers who offer ThreatMetrix technology can set up consortiums with a common list repository across their customer base
About ThreatMetrix, A LexisNexis Risk Solutions Company
ThreatMetrix®, A LexisNexis® Risk Solutions Company, empowers the global economy to grow profitably and securely without compromise. With deep insight into 1.4 billion anonymized digital identities, ThreatMetrix ID delivers the intelligence behind 110 million daily authentication and trust decisions to differentiate legitimate customers from fraudsters in real time.
About LexisNexis® Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com, and www.relx.com.
Name: Courtney Austin
Title: Senior Director, International Marketing, LexisNexis Risk Solutions
Name: Joanne Grba
Title: Fraud and Identity Marketing Director, LexisNexis Risk Solutions