Laura Beck for Infoglide
Infoglide Announces I-BIRDS, Industry’s First Community Search Anti-Fraud Solution for Financial Institutions
Inter-Bank Intelligent Risk Data Search is Privacy-Compliant Approach to Federated Queries for Fraud Detection
Austin, TX, February 22, 2012 – Infoglide today announced I-BIRDS, or Inter-Bank Intelligent Risk Data Search. I-BIRDS is a community search solution that provides financial institutions with a secure, data-privacy compliant, collaborative, and automated means to search for and verify persons of interests that may exist within the banking community. This is the banking industry’s first ever community search solution for enterprise fraud management.
“Individuals and businesses involved in serious fraud and money laundering often spread the criminal activity across multiple financial institutions during a single campaign. Yet, while a number anti-fraud point solutions focus on detecting and preventing fraud on a department or company level basis, none have succeeded in providing a community-wide view of fraudulent entities. Until our I-BIRDS,” said Infoglide CEO Mike Shultz. “We created I-BIRDS to help the community work together to find and link suspicious entities without violating privacy compliant policies.”
Infoglide is a Government Grade Security Technology Company that has been delivering identity resolution software solutions to federal and state governments and commercial organizations for over 15 years. It has now developed a community search solution for financial institutions, leveraging the power of privacy compliant data analyzed across many organizations to more effectively cull fraud risks. I-BIRDS enables financial institutions to query other organizations, across corporate firewalls, to seek out fuzzy matches of fraud risk, and return matches, all in a method that can conform to organizational and regulatory compliance policies, thanks to Infoglide’s unique ability to perform a search and match within each organization’
“Infoglide supports anonymous entity resolution, which is useful when you want to make enquiries about an individual, but data privacy laws get in the way of providing such information, for example between a bank in Switzerland and one in the United States,” said Philip Howard, Research Director, Bloor Research.
I-BIRDS features include:
• Real-Time, Federated Community Search consolidates scored results into a single intuitive interface.
• Accurate and Sophisticated Matching with the I-SCore Index resolves cultural and linguistic variations in the data such as aliases, phonetic errors, and abbreviations.
• Reliable and proven technology is already in use by the US Department of Homeland Security as well as other Fortune 500 banks, retailers, and insurance companies. It is designed by experts in fighting fraud and AML with extensive experience in data privacy and security.
“Banks have been apprehensive over sharing databases because of the potential risk exposure from transferring confidential customer data. “Infoglide’
“FrAML compliance officers already share information with other banks on potentially risky customers, counterparties and transactions,”
Several financial organizations and government agencies - especially those focused on fraud management, anti money laundering and financial crimes enforcement - already work with Infoglide. These customers were the inspiration for the development of I-BIRDS, which will be delivered through a subscription service. Infoglide welcomes interested companies to discuss I-BIRDS implementation now, by contacting us at firstname.lastname@example.org.
About Infoglide Software Corporation