Particularly useful for businesses that conduct remote automated transactions over the web.
Cardiff (PRWEB UK) 5 March 2014
Further supporting the online retail market, Tracesmart, leading supplier of consumer intelligence solutions, has released a host of new features in version 3.3 of its web-based identity check and fraud prevention software, IDU. The new functionality includes a credit and debit card fraud warning and a phone ownership check, both of which will help verify identity and block fraudulent transactions.
These new features will be particularly useful for businesses that conduct remote automated transactions over the web; the new payment card fraud warning allows for card use to be flagged as potentially fraudulent before the transaction is even passed to the payment processor. In addition to preventing fraud, this function will help retailers to avoid unnecessary payment processing fees and chargebacks.
Providing IDU users with a greater level of confidence in an individual’s identity, the Phoneverify phone ownership check sends the subject a text message with a unique verification code; this subsequently needs to be acknowledged and returned to the IDU system. The feature is an ‘Out-of-Band’ authentication that provides a significantly improved certainty of an individual’s identity and can be utilised as part of a two factor authentication check. Chris Rothwell, Sales Director at Tracesmart, highlights the importance of providing a diverse array of individual functions and services within IDU;
“From inception we envisaged IDU being multifaceted, allowing users to tailor it to their specific requirements. It allows for a much more diverse range of applications and enables us to service multiple markets simultaneously with a single piece of software.
"Whilst the core of the product supports our clients’ synergistic needs, the development of these specific features within IDU provides the customisable functionality our vertical markets demand.”
A new age range parameter, also released in IDU v3.3, is further testament to the diversity of the product. Providing users with the ability to verify an individual sits within a specific age range, it is of particular use to both the retail sector, which would employ it in age verification checks, and the insurance market, which can utilise this feature in the assessment of risk.
In addition to providing a range of new features, the IDU v3.3 web service also incorporates an upgrade to its core address matching system, as Tracesmart’s Technical Director, Paul Weathersby explains:
"Improving our fundamental services, as well as providing new functionality, is a key part of our development philosophy. As such, we have upgraded the address matching capability of the IDU API, to enhance match rates and reduce processing time."
IDU v3.3 is now available via a web service, batch processing system and web application.
Notes to editors:
Established in 1999, Tracesmart Ltd is a leading provider of consumer data services, specialising in the provision of online tracing and identity verification software. Prominent in the collections, legal, financial and fraud prevention sectors, the company’s solutions are employed by a growing legion of businesses ranging from SME to FTSE 100 listed companies.
Heading up the corporate sales team, Rothwell has an insightful knowledge of data analysis and tracing. This understanding allows him to direct the development of products designed specifically to fulfil these requirements and provide the company’s client base with progressive technology.
Tracesmart’s Technical Director, Weathersby oversees the company’s extensive networks, systems and databases, ensuring quality is continuously maintained and data management and security is of the highest level. In addition, he oversees Tracesmart’s substantial IT department.