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Report by Gartner Cites Need for Dynamic, Layered Identity Assessment to Replace Absolute Identity Proofing

LexisNexis® Risk Solutions cited as a Representative Vendor in the report


ATLANTA — In a recent market report, information technology research and advisory company Gartner discussed the impact of data breaches on personally identifiable information (PII) and account credentials. The November 2015 report, titled “Absolute Identity Proofing Is Dead; Use Dynamic Identity Assessment Instead,” describes the challenge for organizations in authenticating identity, either consumer or small business, using their current methods. The report calls for a multi-layered identity assessment approach that is dynamic and analyzes endpoint and user data. LexisNexis® Risk Solutions is cited as a Representative Vendor in the report.

According to Gartner, “Identity assessment is not a one-time event. It needs to be a continuous cycle that is triggered by an authentication or transaction. Organizations can pick and choose when to invoke the identity assessment cycle and which of the layered measures to take based on risk tolerance, identity assurance requirements and cost.” In the case of small businesses applying for credit, those with thin or no credit files—which is as many as 60 percent of all small U.S. businesses—can be introduced into the financial system this way without adding risk. “The most appropriate strategy for assessing identity claims should be fluid and dynamic.”

In addition the report notes, “The plethora of data breaches reported over the last few years has resulted in widespread compromise of regulated personally identifiable information (PII) and account credentials used to verify the identity of individuals conducting electronic transactions over the Web, telephone or mobile data channel.” For small businesses needing to establish identity and stability to secure credit, this situation can mean the difference between financial inclusion and continuing to be shut out of the system.

The Gartner report cited LexisNexis® Risk Solutions as a Representative Vendor in all channels using “aggregated PII and some alternative non-PII” and “electronic and document identity (PII)” information categories.

Ben Cutler, senior director, small business credit risk decisioning, LexisNexis Risk Solutions, comments: “Small businesses are an important and at times overlooked part of our economy. Oftentimes, early stage small businesses turn to family, friends and HELOCs to gain the capital they need to grow. Given the size of the small business market and the tendency of small businesses to remain loyal customers, lenders are actively seeking new ways to make informed decisions about lending to them, especially small business that are less than three to four years old. Alternative data opens the aperture through which lenders can view a small business’s likelihood of repaying a loan. Combining data from multiple sources produces a revealing footprint.”

The Small Business Financial Exchange, Inc. (SBFE®) recently approved LexisNexis Risk Solutions as an SBFE Certified Vendor™, enabling the data, technology and advanced analytics company to blend its business risk information with SBFE business financial performance data, resulting in highly predictive small business credit risk scores, small business credit risk reports and small business credit risk attributes, which are available to SBFE members.

Contact Ben Cutler for more information about small business credit risk decisioning.

About LexisNexis Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta USA, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit

About Small Business Financial Exchange, Inc. and SBFE, LLC (SBFE®)
The Small Business Financial Exchange, Inc. and SBFE, LLC (collectively known as SBFE) is the leading source of US small business credit information. Established in 2001 as a non-profit organization, today the exchange houses information on about 24 million businesses in its SBFE Data Warehouse™, and enables blind information exchange among its Members. Through its resources, relationships and SBFE Certified Vendors™, SBFE makes possible innovative risk management solutions by providing industry insight and analysis of aggregated small business financial data to its Members. SBFE sets the highest standards for data quality, integrity of use, data governance and information security for SBFE Data™ to protect its Members and their customers' information. SBFE is the only Member-controlled organization of its type and is a trusted advocate in promoting the needs of the small business lending community
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