Tracesmart enhances ID checks with credit reference data

June 15, 2012 - PRLog -- Leading consumer intelligence provider, Tracesmart, has announced that version 2.0 of its identity verification and know your customer product – IDU – now utilises credit reference data in the screening process. The inclusion of this multi-source data will provide users of IDU with additional confidence when conducting identity and due diligence checks for anti-money laundering and fraud prevention purposes.

IDU is Tracesmart’s flagship identity verification solution. It employs a wealth of consumer data including current and historic electoral rolls, mortality records, property information and insolvency data amongst numerous others. The system screens an individual’s details against these datasets and provides a score to help evaluate whether or not the individual is who they say they are, in turn allowing Tracesmart customers to protect themselves from the threat of money laundering and identity fraud.

Now further enriched with the addition of credit reference data, IDU is even more powerful as Mike Trezise, Managing Director at Tracesmart, notes:

“IDU already provides high match rates [whereby an individual’s details match to information within the system] due to the extensive consumer intelligence the product utilises. The addition of credit reference data will further enhance these match rates, providing our customers with the ability to screen even more individuals than before.

We are confident that the combination of data we already hold – much of which is proprietary to Tracesmart, and the addition of credit reference information, will make the spectrum of UK individuals IDU can verify one of the broadest in the marketplace.”

Credit reference data is one of numerous upgrades incorporated in the second generation version of IDU. The system now features an intuitive new user interface which makes the identity check reports even easier to digest and users who are members of CIFAS will now be able to screen individuals against the CIFAS fraud database via an IDU check.

As well as being one of the most powerful identity verification and due diligence systems available, Tracesmart is ensuring that IDU is positioned extremely competitively, as Chris Rothwell, Sales Director at Tracesmart, highlights:

“We not only aim to provide the most powerful and robust identity checks available, but also to adopt a commercial position which betters that of our competition.

IDU will be available via a compelling fee structure that will make the overall proposition one which is hard to ignore and as such, we are expecting to achieve a high level of penetration into numerous new vertical markets over the next 12 months.”

*ENDS*

Mike Trezise
Founder and Managing Director at Tracesmart, Trezise has extensive experience in tracing and fraud analysis and prevention; knowledge which provides the company with a distinct competitive advantage.

Chris Rothwell
Heading up the corporate sales team, Rothwell has an insightful knowledge of data analysis and fraud prevention. This understanding allows him to direct the development of products designed specifically to fulfil these requirements and provide the company’s client base with progressive technology.