Aiming to enhance protection, decrease losses and help clients satisfy the demands of federal "Red Flag" regulations that went into effect late last year, CSC (Falls Church, Va.) has introduced ComplyID , a Web-based service that provides automatic detection and resolution of potential identity fraud attempts. ComplyID is a decision and workflow software solution that addresses sections 315 and 114 of the Fair and Accurate Credit Transaction Act of 2003 (FACTA) by identifying and resolving bureau alerts and ID discrepancies, and providing tracking and reporting for compliance measures. The ComplyID service can be integrated with credit grantors' own identity theft-prevention processes to speed detection and investigation of suspicious activity or Red Flags, as defined by FACTA, such as address variances.
"ComplyID provides us with an easy-to-use decisioning system that incorporates our own identity theft program and best practices with CSC's decisioning engine," said D'Layne Rhynsburger, senior vice president, Broadway National Bank, an early adopter and tester of the solution, in a statement. "Our goal is to eliminate our manual queue and credit origination backlog, thereby speeding approvals to our customers."
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio