Complete identity verification, spot fraud and uncover identity discrepancies in real time.
Growing your business while satisfying Customer Identification Program (CIP) regulations demands the ability to make effective and efficient decisions on prospective customers.
Benefits
LexisNexis® InstantID® provides robust identity coverage that helps increase verification rates and support informed decisions to help your business:
- Accelerate customer acquisition
- Strengthen compliance
- Mitigate risk exposure
- Minimize exceptions and discrepancies
- Reduce operating costs
By harnessing the power of the LexisNexis identity repository and our proven scoring and analytic technologies, InstantID provides a strong foundation for KYC and CIP programs. With tools to help minimize exceptions, support deeper due diligence and protect against compliance and fraud risks, InstantID positively impacts the customer experience and your overall success.
Simplify compliance with critical regulationsBy delivering access to the industry’s most robust identity database, InstantID simplifies compliance with Section 326 of the USA PATRIOT Act. InstantID automates watchlist checking and searches a comprehensive set of global terrorist watch lists, including the Office of Foreign Assets Control (OFAC), Politically Exposed Persons (PEPs) and others. A succinct report provides an easy-to-interpret score that summarizes the level of verification, highlights potential risk indicators and delivers additional verification information to support enhanced due diligence efforts.
Combat identity fraud with deeper identity insightInstantID combines powerful and effective identity verification, validation and fraud detection tools to instantly authenticate businesses and individuals. With access to the industry’s most robust database and the LexisNexis® Customer Network, you can instantly connect to aggregated information from over 78 billion public and proprietary records that cover 95% of the U.S. adult population, including entities with limited credit and financial histories. We deliver analytics backed by LexID®, our proprietary advanced linking technology that synthesizes disparate data sets and intelligently examines data interconnections to provide meaningful identity insight and help uncover indicators of potential fraud.
Features
LexisNexis® InstantID® verifies essential personal information such as name, consumer or business address, date of birth and social security or tax identification number. It also verifies the identities of businesses and their authorized agents. It searches billions of records and thousands of independent data sources in order to quickly provide the broadest and most accurate information.
Comprehensive risk assessment
InstantID® alerts you to any indicators of identity theft or fraud. It identifies potentially high-risk data elements—such as prison addresses, campground addresses, disconnected phone numbers and social security numbers of deceased persons—and summarizes the results in an easy-to-interpret verification index and a LexisNexis® FraudPoint® score. It also performs an automatic check of the Office of Foreign Assets Control (OFAC) list of known terrorists.
Streamline discrepancy resolution
InstantID helps reduce verification failures and delays from mis-keys with intelligent tools that automatically flag mis-keyed information and return corrected data. Support faster discrepancy resolution with access to multiple levels of detailed information, including name variations, such as marriage, with dates of changes, and address variations with dates associated.
Add a layer of efficiency with smart, easy-to-audit results
Simplify audit reviews with robust archiving and reporting functionality that supports both individual transaction review reports and detailed summary level reports. Advanced archiving and reporting means that LexisNexis stores your InstantID records for you and provides a way to retrieve and review the record with the auditor in real time.
InstantID also delivers comprehensive reports to help you evaluate the efficacy of business rules and understand portfolio performance. Access to the summary level reports gives you the ability to pull performance statistics on transactions run over a given time frame.
Get it now: For more information about LexisNexis® InstantID®, call 1.800.953.2877.
Optional Components
FraudPoint®
LexisNexis® FraudPoint® is a sophisticated, easy-to-use tool that allows you to instantly identify which credit applicants and businesses present you with the highest risk of fraud. Using advanced scoring techniques and a powerful database of information, it pinpoints potentially fraudulent applications in seconds.Fight fraud and protect your company’s assets
FraudPoint® verifies an applicant’s identity and calculates any risks that are associated with him or her. It can also uncover links between businesses and their authorized representatives. A straightforward three-digit numeric score summarizes these results and allows you to identify high-risk applicants.
Streamline your credit applications
FraudPoint helps you focus your follow-up investigations on accounts that have the highest levels of risk. With “false alarm” rates that are significantly lower than those of our competitors, this powerful tool helps streamline your operations, reduce manual review and minimize your exposure to fraud.
Red Flags Rule Report
The LexisNexis® Red Flags Rule Report can help comply with the FACT Act Identity Theft Red Flags Rule. Use it to reveal patterns, practices, and suspicious activities that may indicate the possibility of identity theft.Helps reduce compliance risk and prevent losses due to identity theft
Identifying and acting on instances of identity theft is no longer “just another CIP policy”—it’s the law. Our Red Flags Rule Report is one tool that can keep you on the leading edge of identity theft prevention.
Red flag alerts warn you of suspicious activity
With warning conditions, or red flag alerts, clearly associated with red flags guidelines, you’re alerted to suspicious personal information like false or disconnected telephone numbers, mis-keyed or mismatched social security numbers, invalid zip codes, security freezes and more.
Office of Foreign Assets Control (OFAC) Screening
LexisNexis® OFAC Screening offers an efficient, cost-effective way to make sure that your business is fully compliant with OFAC regulations.Streamline your OFAC compliance
OFAC Screening’s advanced search capabilities quickly and automatically scan your customer names and alert you to any potential matches. OFAC Screening investigates former names, aliases or anything else in a customer’s record that might indicate a risk.
Search for International alerts
OFAC Screening allows you to scan customer names against International watchlists like the Bank of England List and the Bureau of Industry and Security (BIS) Export Control List.
Get it now: For more information about LexisNexis® InstantID®, call 1.800.953.2877.
Clients and Testimonials
Patricio Jaramillo
NetSpend Corporation
Risk Analytics Manager