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FICO® Identity Resolution Engine (IRE) is an entity resolution and graph analytics platform that adds a critical dimension to the fight against fraud. IRE enables organizations to systematically scan across disparate internal and third party data, leveraging world class proprietary fuzzy matching algorithms to resolve identities and the common relationships between them.
IRE provides both an intuitive investigation interface, as well as a network analytics capability to enhance models by examining the metadata of networks and characteristics between people, places, documents, and events.
IRE is utilized in numerous industries across private and private sectors to target the detection of pattern fraud including but not limited to:
Uncover up to 50% more fraud with powerful analytics
With advanced proactive graph analytics technology, FICO® Identity Resolution Engine identifies suspicious individuals at point of origination, as well as pinpoints active fraud rings on your portfolio before they rupture. When used in conjunction with FICO models, Identity Resolution Engine can uncover and stop up to 50% more fraud than rules-based systems.
Reduce manual work to increase investigator efficiency
With Identity Resolution Engine’s intuitive visual link analytics tool, investigators quickly discover and visualize relationships of persons of interest. A client recently shared that a fraud ring that had taken over 10 days to manually piece together before they had IRE took only 10 minutes to investigate when IRE was installed. Additionally, a significant number of accounts not found during their manual process were also discovered during the IRE review allowing the client to mitigate significant potential loss.
Monitor your portfolio across the customer lifecycle
Billions of dollars of fraud perpetrated by first party fraudsters, synthetic identities, and bust-out fraud rings is misclassified as bad debt in credit risk losses. FICO Identity Resolution’s flexible deployment can be operationalized across the customer lifecycle to maximize automation and mitigate loss including:
IRE’s sophisticated matching and entity resolution engine is capable of accessing and organizing disparate internal and external data to formulate human centric objects and relationships.
On top of the resolved entity stores, IRE provides three integrated business applications.
The product is highly scalable, and available both in the Cloud and on-premises.
Adaptive Data Ingestion: Patented and proven entity mapping and profiling software enable analysis on valuable data in almost any format.
Superior Entity Resolution: IRE uses proprietary analytic algorithms to automatically deliver matching and relationship intelligence with a high degree of precision and throughput.
Federated Data Search: Examine multiple internal and external data sources, piecing together relevant bits into the bigger picture while complying with privacy regulations and requirements.
Cognitive graph based intelligence: IRE leverages a combination of entity based, relationship based, network analytics to continuously adapt to the changing patterns of fraudsters.
User Driven Analytics: IRE provides sophisticated query tools, a full featured visual link chart, and integrated visual analytics.
Cloud enabled: IRE has the flexibility be installed on-premises or in the Cloud.
We want to help you future proof the next step in your organization’s journey by sharing the lessons FICO experts have learned about building resiliency during tumultuous times. Register below to gain access to our virtual event series.
From April 20 through May 28, FICO will host a series of live webinars sharing best practices and strategies for resiliency in your organization. The topics fall within six tracks including adaptability, digital customer engagement, risk management, operational efficiency, building trust and protecting customers.
FICO® Identity Resolution Engine gives
banks, insurers, retailers, telecom
providers, and government agencies the
most effective technology combination
for detecting and investigating
financial crimes, bolstering security,
A combination of fictitious and potentially stolen personally identifiable information (PII) leveraged to compose a false and fabricated identity.
In today’s economy, individuals are looking for smarter ways to access capital. However, with greater accessibility to better and faster financial solutions comes greater risk.
Driven by the proliferation of data breaches - with billions of records stolen to date - application fraud is on a meteoric rise.