Triad Financial has aligned with LexisNexis RiskWise as part of its efforts to prevent identity fraud and to screen higher-risk, new account applicants. Triad Financial specializes in granting credit to consumers who have difficulty obtaining financing from conventional sources.
InstantID searches multiple databases to verify and validate the authenticity of an applicant's identity. InstantID is designed to work with a variety of account opening processes and is available via on-line, Web-based searches, batch-processing or through systems integration in existing platforms. The Comprehensive Verification Index (CVI) within InstantID illustrates risk in terms of the information provided and the degree to which it is validated. It is also indicative of potential fraud risk and identity theft.
InstantID is also available to assess new accounts opened on behalf of a business entity. The business processes can assess data for the business entity alone or can simultaneously assess both the business information and a set of individual information. The latter solution is particularly effective when opening a small business account, which often includes both business and individual information.