Loading...

Experian launches innovative new platform for fraud and identity services

Published: June 1, 2016 by Guest Contributor

fraud platform

Industry’s first smart plug-and-play fraud platform allows companies to connect their own solutions, Experian products and third-party vendors in one place to better protect their customers from fraud threats

Experian unveiled the fraud and identity industry’s first open platform designed to catch fraud faster, improve compliance and enhance the customer experience. Experian’s CrossCore™ gives companies an easier way to connect any new or existing tools and systems in one place, whether they are Experian, internal or third-party partner solutions. This “plug-and-play” capability allows companies to rapidly adapt to changing conditions and risks.

“Our clients have expressed frustration over the lack of a truly holistic industry solution that delivers the level of confidence and control they need without requiring a massive multiyear project to replace everything they have,” said Steve Platt, global executive vice president, Fraud and Identity, Experian. “New fraud threats, updates to regulatory requirements and customer expectations for a hassle-free experience are making it challenging for fraud and compliance teams to keep up. CrossCore will give them the flexibility they need to balance customer protection with customer experience.”

The CrossCore open platform enables organizations to manage services through a common access point that supports a layered approach to managing risks across providers. CrossCore includes powerful workflow and strategy design capabilities that allow fraud and compliance teams to create and adapt strategies based on evolving threats and business needs. This helps them to respond more quickly and reduces the burden on IT.

Fraud and compliance teams must constantly respond to new fraud threats and changing regulatory requirements by implementing new tools on top of existing solutions. “A layered approach is imperative, because fraudsters can break through each layer individually, but they will face greater barriers with each additional layer imposed,” said Avivah Litan, vice president and distinguished analyst, Security and Privacy, of Gartner.[1] Over time, as layers have been added and fortified, systems have become increasingly complex, expensive to integrate and difficult to manage, often increasing customer friction.

A key feature of the CrossCore fraud platform is the ease of integration with third-party partner solutions. At launch, CrossCore will support fraud and identity services provided by third-party partners, including Acxiom® (Identity Solutions), TeleSign and many others already integrated with Experian solutions, with more being added to the platform. Previously, integrating third-party solutions required tremendous time and effort, which often challenged in-house teams to execute in a timely, efficient manner. Through CrossCore, the responsibility of integrating additional tools and systems moves away from those teams to the platform itself, enabling clients to select best-in-class solutions from multiple providers without creating a strain on resources.

Al Pascual, senior vice president, research director and head of fraud & security for Javelin, said, “There are so many great niche solutions to work with, and new ones come out almost every day. To really have a world-class approach, the client has to put all those little things together, because there never will be one vendor who does it all. The market challenge is about how to make it faster and easier to bring things together to enable a more dynamic and fluid approach to managing risk.”

CrossCore features

  • Common access through a flexible API connects disparate systems to improve risk controls while reducing integration cost and complexity
  • An open approach enables clients to connect and optimize a portfolio of best-in-class solutions across Experian, third-party services and existing systems
  • Powerful strategy design and workflow decisioning functions enable fraud and compliance teams to apply services in any combination to get the level of confidence required
  • A modern Software as a Service (SaaS) architecture provides scalability and the ability to make strategy changes dynamically with no down time

Experian, which offers fraud and identity services in more than 44 countries, developed CrossCore to address the widespread market need consistently expressed by its clients for a faster, easier way to get more out of their existing systems and add new tools to improve their customers’ experience while minimizing risk.

Companies can begin accessing CrossCore immediately, with the ability to turn on Experian services through a single integration, connect their own fraud and identity capabilities with a common API and turn on new services as they are added. The initial release includes key Experian products: FraudNet for Account Opening; Hunter®, for application fraud detection; Prove-ID, for international identity verification; and Precise ID®, for U.S. identity verification, including knowledge-based authentication. (KBA). Third-party fraud and identity service providers can engage with CrossCore to connect their services.

“Now, companies can implement a new approach to managing fraud and identity services — one that will give them greater control over their risk exposure and enable them to provide a safer and more enjoyable experience for their customers,” added Platt.

Learn more about CrossCore at https://www.experian.com/crosscore

[1]Gartner, Identity Proofing Revisited as Data Confidentiality Dies, Avivah Litan, Dec. 12, 2013; last reviewed on April 28, 2015

Related Posts

Fake IDs have been around for decades, but today’s fraudsters aren’t just printing counterfeit driver’s licenses — they’re using artificial intelligence (AI) to create synthetic identities. These AI fake IDs bypass traditional security checks, making it harder for businesses to distinguish real customers from fraudsters. To stay ahead, organizations need to rethink their fraud prevention solutions and invest in advanced tools to stop bad actors before they gain access. The growing threat of AI Fake IDs   AI-generated IDs aren’t just a problem for bars and nightclubs; they’re a serious risk across industries. Fraudsters use AI to generate high-quality fake government-issued IDs, complete with real-looking holograms and barcodes. These fake IDs can be used to commit financial fraud, apply for loans or even launder money. Emerging services like OnlyFake are making AI-generated fake IDs accessible. For $15, users can generate realistic government-issued IDs that can bypass identity verification checks, including Know Your Customer (KYC) processes on major cryptocurrency exchanges.1 Who’s at risk? AI-driven identity fraud is a growing problem for: Financial services – Fraudsters use AI-generated IDs to open bank accounts, apply for loans and commit credit card fraud. Without strong identity verification and fraud detection, banks may unknowingly approve fraudulent applications. E-commerce and retail – Fake accounts enable fraudsters to make unauthorized purchases, exploit return policies and commit chargeback fraud. Businesses relying on outdated identity verification methods are especially vulnerable. Healthcare and insurance – Fraudsters use fake identities to access medical services, prescription drugs or insurance benefits, creating both financial and compliance risks. The rise of synthetic ID fraud Fraudsters don’t just stop at creating fake IDs — they take it a step further by combining real and fake information to create entirely new identities. This is known as synthetic ID fraud, a rapidly growing threat in the digital economy. Unlike traditional identity theft, where a criminal steals an existing person’s information, synthetic identity fraud involves fabricating an identity that has no real-world counterpart. This makes detection more difficult, as there’s no individual to report fraudulent activity. Without strong synthetic fraud detection measures in place, businesses may unknowingly approve loans, credit cards or accounts for these fake identities. The deepfake threat AI-powered fraud isn’t limited to generating fake physical IDs. Fraudsters are also using deepfake technology to impersonate real people. With advanced AI, they can create hyper-realistic photos, videos and voice recordings to bypass facial recognition and biometric verification. For businesses relying on ID document scans and video verification, this can be a serious problem. Fraudsters can: Use AI-generated faces to create entirely fake identities that appear legitimate Manipulate real customer videos to pass live identity checks Clone voices to trick call centers and voice authentication systems As deepfake technology improves, businesses need fraud prevention solutions that go beyond traditional ID verification. AI-powered synthetic fraud detection can analyze biometric inconsistencies, detect signs of image manipulation and flag suspicious behavior. How businesses can combat AI fake ID fraud Stopping AI-powered fraud requires more than just traditional ID checks. Businesses need to upgrade their fraud defenses with identity solutions that use multidimensional data, advanced analytics and machine learning to verify identities in real time. Here’s how: Leverage AI-powered fraud detection – The same AI capabilities that fraudsters use can also be used against them. Identity verification systems powered by machine learning can detect anomalies in ID documents, biometrics and user behavior. Implement robust KYC solutions – KYC protocols help businesses verify customer identities more accurately. Enhanced KYC solutions use multi-layered authentication methods to detect fraudulent applications before they’re approved. Adopt real-time fraud prevention solutions – Businesses should invest in fraud prevention solutions that analyze transaction patterns and device intelligence to flag suspicious activity. Strengthen synthetic identity fraud detection – Detecting synthetic identities requires a combination of behavioral analytics, document verification and cross-industry data matching. Advanced synthetic fraud detection tools can help businesses identify and block synthetic identities. Stay ahead of AI fraudsters AI-generated fake IDs and synthetic identities are evolving, but businesses don’t have to be caught off guard. By investing in identity solutions that leverage AI-driven fraud detection, businesses can protect themselves from costly fraud schemes while ensuring a seamless experience for legitimate customers. At Experian, we combine cutting-edge fraud prevention, KYC and authentication solutions to help businesses detect and prevent AI-generated fake ID and synthetic ID fraud before they cause damage. Our advanced analytics, machine learning models and real-time data insights provide the intelligence businesses need to outsmart fraudsters. Learn more *This article includes content created by an AI language model and is intended to provide general information. 1 https://www.404media.co/inside-the-underground-site-where-ai-neural-networks-churns-out-fake-ids-onlyfake/

Published: March 20, 2025 by Julie Lee

Financial institutions can help protect clients by educating them on the warning signs of fraudulent lottery scams.

Published: March 12, 2025 by Alex Lvoff

Discover how data analytics in utilities helps energy providers navigate regulatory, economic, and operational challenges. Learn how utility analytics and advanced analytics solutions from Experian can optimize operations and enhance customer engagement.

Published: March 10, 2025 by Stefani Wendel