Data analytics company Equifax is teaming up with identity verification solutions provider GIACT Systems to help joint corporate customers mitigate the risk of fraud.
In a press release Thursday (June 20) the companies announced the launch of the EPIC Platform from GIACT, a B2B solution that enables businesses to address the risk of fraud from their customers throughout the lifecycle of the client relationship. The platform supports real-time enrollment, payment, identity management, compliance and mobile fraud prevention, the firms said, using Equifax technology to analyze customer identity and behavioral data.
"We are pleased to be entering into an alliance with Equifax," said GIACT Co-Founder and CEO Melissa Townsley in a statement. "Our mission is to protect businesses and consumers at every touchpoint, which requires comprehensive data. The alliance with Equifax provides important access to some of the most complete and unique set of data assets available in the market. Whether it's protecting enrollment and payments, or assisting customers to meet regulatory requirements, GIACT is committed to ongoing protection and support."
In another statement, Equifax Enterprise Alliances Vice President Melissa Monk said the integration with GIACT "adds a unique and complimentary capabilities to the Equifax portfolio of identity, fraud and compliance solutions," noting that Equifax will help companies "mitigate risk, combat fraud, fulfill compliance requirements and orchestrate digital experiences by accurately identifying and linking information to create a more complete view of their customers across multiple data sources" through its collaboration with GIACT.
Earlier this month GIACT EVP David Barnhardt spoke with Karen Webster about some of the biggest challenges in preventing fraud, particularly in the financial services space as cybercriminals adjust their tactics against banks.
"If you look at where the big gains are for fraudsters, it is in industries that historically have not had a problem — suddenly they are seeing double, triple and even quadruple instances of fraud,” he said.
