Fiserv ITI Helps Bankers Fight Identity Theft with Acxiom Insight Identify
July 20 2006 - 9:00AM
Business Wire
Advanced Data and Analytics Help Bankers Improve Compliance and
Reduce Losses Fiserv Inc. (Nasdaq: FISV) announced that its
Information Technology Inc. (ITI) business unit has integrated
Acxiom Insight Identify into its Premier(R) Platform account
opening software, arming new accounts staff with technology that
offers access to unmatched data and analytic resources. Developed
by Acxiom Insight, the risk mitigation division of Acxiom(R)
Corporation (Nasdaq: ACXM), Insight Identify also reduces human
error, enhances compliance with regulatory customer identification
requirements and decreases identity theft. "Losses stemming from
fraudulent activity are painful enough for bankers without having
to pay regulatory penalties resulting from error and
noncompliance," said Bob Michaud, ITI senior vice president and
general manager of the company's Branch Automation operating unit.
"This solution eases both those financial risks by helping to
eliminate human error when verifying identification and by lowering
risk through a refined screening process." Insight Identify
instantly cross-references applicant information, such as name,
address and Social Security number, against Acxiom's extensive
consumer data. The program enables a second-level risk assessment
by searching additional databases where risk elements exist,
including liens, bankruptcies, judgments, property and criminal
records. "We're pleased to have the opportunity to assist ITI
clients in their fight against one of America's fastest-growing
crimes," said Acxiom Insight CEO Ron Fournet. "Identity theft has
become a front page concern for Americans in recent years and
Insight Identify, with its superior data and analytics, is the most
sophisticated anti-identity theft technology available today."
Insight Identify also meets the requirements for an effective
customer identification program to ensure compliance with the USA
Patriot Act and similar regulations. About Acxiom Corporation
Acxiom Insight is the risk mitigation division of Acxiom
Corporation (Nasdaq: ACXM). Its mission is to help Americans
protect themselves, their businesses and their communities from
risk through advanced information-based solutions. Acxiom
Corporation integrates data, services and technology to create and
deliver customer and information management solutions for many of
the largest, most-respected companies in the world. Founded in
1969, Acxiom is headquartered in Little Rock, Ark., with locations
throughout the United States and Europe, and in Australia and
China. For more information, visit Acxiom.com. About Fiserv ITI
Serving more U.S. banks and savings institutions than any other
software and services vendor, ITI offers several core solutions,
including the service oriented architecture-based Premier(R) and
PCS Vision(TM) suites and a broad range of supporting products and
services available on the nation's most popular IBM and Unisys
hardware platforms for in-house and outsourced account processing.
Founded in 1976, ITI works closely with some of the best-known
technology companies in the world and has grown to incorporate
businesses and offices nationwide, including its Premier, Precision
Computer Systems (PCS), Branch Automation, eSolutions, Digital
Solutions, Decision Metrics and Professional Services operating
units. A subsidiary of Fiserv Inc., ITI can be found on the
Internet at www.itiwnet.com. About Fiserv Inc. Fiserv Inc.
(Nasdaq:FISV), a Fortune 500 company, provides information
management systems and services to the financial and health
benefits industries. Leading services include transaction
processing, outsourcing, business process outsourcing (BPO),
software and systems solutions. The company serves more than 17,000
clients worldwide and is the leading provider of core processing
solutions for U.S. banks, credit unions and thrifts. Fiserv was
ranked the largest provider of information technology services to
the financial services industry worldwide in the 2005 and 2004
FinTech 100 surveys. Fiserv Health provides health plan management,
pharmacy benefits management and BPO services to the managed care
market and self-funded commercial and government employers and
health plans. Headquartered in Brookfield, Wis., Fiserv reported
more than $4 billion in total revenue for 2005. For more
information, please visit www.fiserv.com.
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