Austin, TX (PRWEB) May 15, 2012
BusinessForensics, the new leader in risk, fraud and compliance management software for financial institutions, Government agencies and corporations today announced it is enhancing its core application sets by incorporating Infoglide’s market-leading Identity Resolution Engine® (IRE) software. Infoglide’s IRE will serve as the identity resolution engine to enhance information intelligence and Social Network Analysis capabilities across BusinessForensic’s suite of fraud detection and risk management products, which includes their flagship HeadQuarters™ offering.
BusinessForensics addresses the need from financial institutions, Government Agencies and corporations to analyze big data to minimize risk and fraud and to achieve full insight and transparency by visualizing and analyzing large amounts of data. The BusinessForensics suite and services allow organizations to detect and prevent fraudulent transactions and monitor mission-critical operations and services by providing advanced information analysis, real-time monitoring, and profiling from both internal and external information sources.
Now, with the added functionality of Infoglide’s IRE, organizations can identify customers with greater precision during the due diligence process or the Know-Your-Customer (KYC) client on-boarding, and find connections between transactions, people, third parties and discrete fraud events that can reveal previously hidden risk. Combining these capabilities enables organizations to identify more complicated fraud patterns, criminal fraud rings, carrousels and networks of collusive participants that might otherwise appear disconnected from a fraud or compliance problems.
“BusinessForensics’ solutions have a huge impact in minimizing the cost of fraud across industries,” said Douglas Wood, senior vice president at Infoglide. “Combining Infoglide’s innovation with their incredible analytics brings powerful capabilities to a market that is inundated with fraud and compliance-related issues.”
Infoglide’s IRE combines a robust identity resolution capability that resolves common variations in spellings, nicknames, and other personal identification elements, with a sophisticated linking engine that weighs the relevance of multiple identity elements in order to determine the likelihood that individuals and events are related. A key differentiator for the Infoglide technology is the ability to analyze data in situ, without normalizing it and without requiring that it be moved into any proprietary database. This capability leaves the full power of the source data intact, strengthening the information value of the resulting analysis. As relationships exposed through the analysis can be quite complicated, Infoglide’s IRE also provides a clear, browser-based user-interface that allows a user to quickly visualize and understand the nature of the relationships between individual actors and events.
After careful research we have selected Infoglide’s IRE to enhance our product suite” says Frank Kurstjens, COO at BusinessForensics. “IRE’s capabilities are the best in the marketplace, and they have an impressive customer base to prove it.”
About Infoglide Software Corporation
Infoglide Software (http://www.infoglide.com) supplies identity resolution and entity analytics solutions to government and commercial markets. Infoglide’s flagship product, Identity Resolution Engine™ (IRE), searches disparate databases to discover possible matches and non-obvious relationships between people, places, and things. IRE has over 50 attribute-specific algorithms that are used to find matches and social links between entities despite errors in data and intentional attempts to deceive. The product is used by organizations in the insurance, banking, identity management, and government spaces for fraud detection, compliance, anti-money laundering (AML), and screening. Incorporated in 1996, Infoglide Software is a privately held company headquartered in Austin, Texas.
BusinessForensics (http://www.businessforensics.eu ) offers the next generation solution for fraud management and financial crime combining real-time detection, social network analysis and information intelligence to create smarter solutions for customers. A complete, new, integrated approach offers customers the flexibility and ease of use needed to implement solutions faster and future proof.
BusinessForensics offers data management, email discovery, advanced Social Network Analysis, real-time in-memory transaction profiling, cases management, timelines and much more in one integrated solution. The BusinessForensics suite is used by financial institutions and government agencies for risk- fraud and intelligence-related solutions.