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First Advantage Brings Identity Risk Management Solutions to Subprime Customers
09-23-05
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“With new identity risks and challenges emerging everyday, we’re thrilled to offer innovative solutions that can help more mortgage, automotive and subprime companies instantly and effectively manage their risk and protect their organizations and customers against fraud
Bruce Hansen, chairman and chief executive officer of ID Analytics

Teletrack's parent company, First Advantage Corporation, a global risk mitigation and business solutions provider, and ID Analytics, Inc., the Identity Risk Management company, today announced a partnership with First Advantage’s credit reporting businesses to resell ID Analytics ID Score® and ID OptimizerTM products to existing mortgage, automotive and subprime customers via established delivery systems and platforms.

First Advantage is the leading provider of specialty credit reports to the mortgage industry through its subsidiary First American CREDCO, to the automotive industry through First Advantage CREDCO, and to the subprime industry through its subsidiary Teletrack. As a result of the partnership agreement, First Advantage credit reporting customers will have easy access to ID Analytics’ fraud prevention solutions through integrated positions in the leading mortgage loan origination systems, automotive dealer management systems and subprime delivery platforms.

“As a leading provider of credit reports in the mortgage, automotive and subprime industries, First Advantage’s credit businesses provide an established and comprehensive distribution channel for our products,” said Bruce Hansen, chairman and chief executive officer of ID Analytics. “With new identity risks and challenges emerging everyday, we’re thrilled to offer innovative solutions that can help more mortgage, automotive and subprime companies instantly and effectively manage their risk and protect their organizations and customers against fraud.”

ID Analytics ID Score, the standard for identity risk decisions, is an empirically derived calculation that measures the likelihood that someone is who he or she claims to be. By calculating the risk associated with an identity, ID Score allows businesses to focus Identity Risk Management efforts on identities with the highest likelihood of fraud, resulting in faster, more profitable, risk-adjusted decisions.

Once identity risk has been determined by ID Score, ID Optimizer instantly determines the most appropriate series of actions to verify the applicant’s identity. By automating more than 60 percent of the formerly manual verifications, ID Optimizer increases efficiencies and saves time.

“CREDCO and Teletrack are committed to providing customers with quick and convenient access to the most advanced and reliable fraud prevention tools,” said Per Gothe, executive vice president of First Advantage CREDCO. “By leveraging our existing business relationships, our new partnership with ID Analytics will provide our mutual end-user customers with a robust and cost-effective fraud and identity theft prevention solution that fits within their established business processes.”

First Advantage plans to make ID Score and ID Optimizer available to customers in early 2006.

About ID Analytics, Inc.
ID Analytics is the Identity Risk Management company providing advanced analytic solutions that prevent identity fraud and manage identity risk across the customer lifecycle. ID Analytics' intelligent ID Network, the first and only real-time national network built exclusively to manage identity risk, coupled with its optimization technology, makes it possible for organizations to calculate the risk associated with an identity and balance identity risk against profit. The ID Network is in use daily by over half the credit and retail card issuer market in the US, as well as leading wireless and online consumer finance companies. To empower consumers and to help more organizations in more industries to fight identity fraud, ID Analytics has channel partners in the bankcard, credit reporting and retail banking industries. ID Analytics, host of Identity 2005, the annual Identity Risk Management Conference, is based in San Diego with offices throughout North America and the UK.

About First Advantage Corporation
First Advantage Corporation combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of business credit information in the transportation industry; consumer credit information in the mortgage, automotive and subprime markets; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top three companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has 3,300 employees in offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.

First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889. First American is the nation’s largest data provider, supplying businesses and consumers with information resources in connection with the major economic events of people’s lives. Additional information about the First American Family of Companies can be found at www.firstam.com.

ID Analytics is a trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.

 

 

 

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