Carreker in Pact with ID Analytics

Daniel Wolfe
April 12, 2005
American Banker

Following are excerpts taken from the April 2, 2005 edition of American Banker.

Carreker Corp. of Dallas and ID Analytics Inc. of San Diego plan to co-market their deposit fraud and identity fraud detection products.

Carreker said Monday that it would incorporate ID Analytics' Identity Risk Management products, which analyze fraud risk by examining customer data from many sources, into its own fraud detection products, which focus on deposit accounts.

John D. "Denny" Carreker, the chairman and chief executive of Carreker, said in a press release that identity fraud detection is the next logical move for his company after addressing risk and fraud in deposit accounts.

When accounts are opened, ID Analytics' customer banks get a fraud risk score based on information about the applicant provided by public databases and other subscribers. Increasing the number of subscribing institutions would expand the pool of information available to use in calculating this risk score.

"This combined solution will leverage our relationships with scores of banks, building on the protection we already extend to more than 70% of the checks written in the U.S.," Mr. Carreker said.