TORONTO, July 10 /CNW/ - Equifax Canada Inc. today announced the launch
of Citadel, the most advanced application fraud prevention and management tool
of its kind available in Canada. Utilizing a cross-industry universe of both
applications and known suspect frauds, Citadel has been developed by Equifax
for lenders in recognition of their urgent need to step up their defenses
against application fraud and to prevent serious financial losses.
Citadel is the only product that gives the users true control of their
fraud strategies to cut fraud losses, improve false positives rates, and
improve operational efficiencies. Critically, Citadel specifically enables
organizations to seamlessly bridge the all-important link between the fraud
investigation and account opening teams.
"Citadel takes application fraud prevention to a new level in Canada,"
said Carol Gray, President of Equifax Canada. "Today's fraudsters are more
sophisticated, and Equifax has responded with a cutting-edge solution that
gives our clients more power than ever to fight them," she continued.
Offering a comprehensive range of checks on applicants, Citadel enables
the detection of fraudulent applications with ease and reliability.
Identify, mitigate, rank, and focus on potential fraud with Citadel
The full flexibility and features of Citadel enable you to identify,
mitigate, rank, and focus on those potential frauds that carry the most risk
to your business. It also enables you to monitor and hone in on the
performance of your rules, priority workflows, and application reviewers. This
collective capability allows you to effectively set and manage strategies that
truly optimize your overall fraud investigation and prevention performance.
Powerful cross functional coordinated fraud prevention
Citadel is used by your fraud investigators to investigate potential
frauds and by your fraud policy team to manage your fraud strategies. This
means that when fraud investigators identify suspicious patterns of data from
Citadel investigations, new front-end fraud policy can be quickly deployed in
Citadel to minimize potential losses.
Organizations can benefit from having fully coordinated defenses from
direct links between the front office application approvals process, and the
back office fraud investigation processes.
Identify fraudulent applications and potential fraud rings
Utilizing a single database of frauds and applications, Citadel is
specifically designed to match on previous applications and frauds in a single
search. This helps optimize resources to identify both strong links to known
previous frauds and spot potential fraud rings.
Robust reliability and performance from a trusted supplier
Citadel is delivered through tried and tested delivery channels with a
proven track record of processing millions of inquiries per year.
Selectively match incoming applications to a universe of previous
applications to help spot suspicious patterns of data and potential fraud
Access to information on the performance of your rules, rule sets, and
fraud investigators will enable you to evaluate the effectiveness of your
fraud strategies, so you can modify as necessary.
Fraud policy rules
Manage your fraud rules and prioritize your risk levels to optimize your
refer, false, and positive rates.
Set, prioritize, and manage your own operational workflows to focus your
fraud prevention resources where you need them most.
About Equifax Inc. (www.equifax.com)
Equifax empowers businesses and consumers with information they can
trust. A global leader in information solutions, we leverage one of the
largest sources of consumer and commercial data, along with advanced analytics
and proprietary technology, to create customized insights that enrich both the
performance of businesses and the lives of consumers.
Customers have trusted Equifax for over 100 years to deliver innovative
solutions with the highest integrity and reliability. Businesses - large and
small - rely on us for consumer and business credit intelligence, portfolio
management, fraud detection, decisioning technology, marketing tools, and much
more. We empower individual consumers to manage their personal credit
information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Georgia, Equifax Inc. employs approximately
7,000 people in 14 countries through North America, Latin America, and Europe.
Equifax is a member of Standard & Poor's (S&P) 500 Index. Our common stock is
traded on the New York Stock Exchange under the symbol EFX.
For further information:
For further information: Michael Lofquist at (416) 227-5290 or visit our
website at www.equifax.ca