SINGAPORE and RANCHO SANTA MARGARITA, Calif., March 12 (Bernama-GLOBE NEWSWIRE) — Melissa, a leading provider of global contact data quality and identity verification (IDV) solutions, will demonstrate its comprehensive IDV solutions that work side-by-side with existing banking software platforms at the upcoming Money 20/20 Asia conference. Melissa’s next generation solutions seamlessly verify identity to support financial institutions’ (FIs) efforts to combat fraud, minimize risk and false positives, and remain compliant to the spectrum of banking regulations and data standards―without intruding on the customer experience.
According to “Identity Verification: Successful Strategies to Minimize False Positives and Risk,” a recent report commissioned by Melissa and produced by Aite Group, identity theft and synthetic identity fraud play a substantial role in application fraud, and the combined impact of these attack schemes will cause more than US$2.7 billion in US credit card and DDA fraud losses through 2020.
