What is IDMarkz?
IDMarkz is an AI-powered software solution designed specifically to help banks, lenders, and other financial institutions detect and prevent synthetic identity fraud. Synthetic identities are fake identities created using pieces of real people's information to open fraudulent accounts and make risky transactions that result in major losses.
This advanced software utilizes cutting-edge machine learning and data analytics to instantly analyze credit applications and transactions to uncover anomalies indicative of false identities. It checks for connections across data sources to piece together puzzles that humans can easily miss. Within seconds, IDMarkz can accurately score an identity's risk level to enable financial institutions to stop synthetic fraud attempts before damage is done.
Key features and benefits include:
- Uses AI and ML models trained on millions of identities to spot fakes
- Checks applicant info against extensive cross-industry database
- Provides simple pass/fail risk scoring to enable instant decisions
- Detects networks of false identities working together
- Continuously monitors accounts to uncover emerging threats
- Cloud-based with API connections to core systems
- Helps minimize losses and reduce fraud operational costs
With IDMarkz, banks and lenders can depend on sophisticated automation to outsmart even the most elaborate synthetic identities. This allows fraud teams to focus expertise on the highest risk cases for more effective mitigation.