To reduce risk and improve profitability by helping to prevent fraud, ChoicePoint has enhanced its Bridger Insight XG solution with new functionalities for retail and commercial banking institutions and other organizations.

Access to tools that support identity analysis, identity verification, business screening and wire transfer scanning is provided by Bridger Insight XG. The new enhancements can also support an organization's identity theft "Red Flags Rules" program, along with augmenting the identity verification, regulatory compliance and due diligence efforts of chief compliance officers and chief risk officers, but .

By allowing organizations to recognize indicators of possible identity theft during the identity verification process, Bridger Insight XG has been enhanced to proactively help prevent fraud loss. By helping determine whether multiple individuals are tied to a single SSN, and whether multiple SSNs are tied to a single person, Identity Analysis, a new companion service to Identity Verification, provides a second, deeper level of insight. These services, used in tandem, can help organizations quickly isolate potential fraudulent activity that may warrant further review.

ChoicePoint product manager, Jeff Butler, commented: "One of the earliest and most basic methods used by identity thieves involves the takeover of a person's Social Security number." He added: "By improving our Identity Verification and Identity Analysis tools, SSN fraud attempts may be detectable earlier, helping to save time and revenue."

To help increase efficiencies and save time, Bridger Insight XG also provides access to business screening tools. Information such as Standard Industrial Classification codes, telephone numbers, physical addresses, business tax ID, officers, and status and business type can be obtained when using Identity Analysis for business verification. In addition, users can access criminal records within ChoicePoint's adverse filings data, which is available for commercial use. Providing the option of creating custom reports derived from various public record sources, ChoicePoint's on-demand public record reports are also accessible through Bridger Insight XG.