EFD Address Analysis

Preventing fraud on new and existing accounts can carry a large price tag, but it doesn’t have to. EFD Address Analysis is an innovative solution that enables financial institutions to efficiently identify change of address transactions—whether on a new account or long established relationship—that are indicative of an account takeover or identity fraud. An efficient compliance solution for sections 114 and 315 of the FACT Act, which requires customer notifications in the case of address discrepancies, EFD Address Analysis uses sophisticated models to identify the most suspect address change transactions, and also helps to eliminate manual processes.

EFD Address Analysis uses a collection of predictive data that captures information on known fraud, residential addresses and suspected fraud. These data, coupled with velocity checks and other key indicators, are then passed through an advanced analytic model to provide a score indicating the likelihood of an identity theft or account takeover. With hundreds of possible combinations of events and millions of address change transactions informing the models used, efficiency is gained through elimination of many false positive results. When an address change transaction is flagged as suspect, EFD Address Analysis includes detailed data that aids investigators in further analysis.

EFD Address Analysis may be easily integrated into existing processes and any address change collection point, whether in a branch, call center, or centralized address change department, with the results returned in real time or batch formats. Incorporating EFD Address Analysis into existing processes and procedures only further increases the potential for greater efficiency.