COSTA MESA, Calif.--(BUSINESS WIRE)--The ability to confidently recognize consumers and safeguard their digital transactions is becoming increasingly challenging for businesses. In addition, fraud threats continue to rise across the globe as fraudsters take advantage of the COVID-19 global health crisis and rapidly shifting economic conditions.
Experian’s CrossCore® combines risk-based authentication, identity proofing and fraud detection into a single cloud platform, which means businesses can more quickly respond to an ever-changing environment. And with flexible decisioning orchestration and advanced analytics, businesses can make real-time risk decisions throughout the customer lifecycle. The newly released version of CrossCore will allow businesses to limit fraud losses and reduce unnecessary customer friction which can impact the bottom line.
“Now more than ever, businesses need to lean on capabilities and technology that will allow them to rapidly respond in these challenging times, increase identity confidence in every transaction, and provide a safe and convenient experience for customers,” said E.K. Koh, Experian’s senior vice president of Global Identity & Fraud Solutions. “This new CrossCore release enables businesses to easily leverage best-in-class, pre-integrated identity and fraud services through simple self-service.”
CrossCore combines advanced analytics with Experian’s rich data assets with identity insights and capabilities from its curated partner ecosystem. Businesses can connect any new or existing tools and systems in one place, whether it be Experian’s, our partners’ or their own. With its built-in strategy design and enhanced workflow, fraud and compliance teams have more control to quickly adjust strategies based on evolving threats and business needs, which helps to improve efficiency and reduce operational costs.
Updates to the new version include the ability for clients to submit dynamic API request payloads, apply progressive risk assessments, apply parallel logic, enable self-service workflow configurations and provide an online business intelligence (BI) module to view transactional volume reports. These updates will give CrossCore users a simpler way to manage complex orchestration; faster, more scalable performance; and key performance indicators in near real time, all while enabling a personalized and seamless experience for their true customers.
“Recent Aite Group research shows that many banks have seen digital channel usage increase 250% in the wake of the pandemic, so ensuring a seamless and safe customer experience is more important than ever,” said Julie Conroy, research director at Aite Group. “Platforms such as CrossCore that can enable businesses to nimbly respond to changing patterns of customer behavior as well as rapidly evolving attack tactics are more important than ever, as financial services firms work to balance fraud mitigation with the customer experience.”
To date, CrossCore is being used by more than 250 clients worldwide and offers technology and capabilities from multiple leading third-party partners. Experian offers identity verification capabilities specifically designed to deliver comprehensive online fraud management that can be deployed quickly so companies can identify fraudsters better and stop fraud attacks before they happen. All our fraud and identity services are available through the Experian CrossCore platform.
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