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Company Receives Third Patent from U.S. Patent and Trademark Office for New Detection System and Method Using Historical Identity Records
SAN DIEGO, May 25 /PRNewswire/ --
ID Analytics, Inc.,
the leader in on-demand identity intelligence, announced today that the U.S. Patent and Trademark Office granted the issuance of
U.S. Patent Number 7,686,214
for the company's system and method for fraud detection using multiple historical identity records. This patent recognizes ID Analytics' innovative technical approach to assembling a consumer identity network and producing highly-predictive insight into a consumer's behavior over time and across multiple industries.
The patent covers fraud detection processes that examine the linkages of identity information such as names, addresses, Social Security numbers, and phone numbers to glean greater insight into fraudulent behavior. ID Analytics' patented technical approach is achieved through a combination of unique capabilities used to assess risk related to identity fraud. These capabilities include the ID Network�—the nation's only real-time, cross-industry compilation of identity information; Personal Topology™—an individual's particular identity characteristics and their connectedness to each other; and ID Analytics' proprietary Advanced Analytics(SM).
The ID Network includes more than a billion unique identity elements and receives an average daily flow of 45 million identity elements from its customers which include eight of the top ten credit card issuers, six of the top ten financial services companies and four of the top five wireless carriers.
Mike Cook, Dr. Stephen Coggeshall, Alan Tsang, Christer DiChiara, Dr. Tao Hong, Dr. Allen Jost and Dr. Xuhui Shao are the inventors of the patent issued to ID Analytics on March 30, 2010.
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