ThreatMetrix®, A LexisNexis® Risk Solutions Company, today announced the Spring ’18 Release, which delivers the first product integrations between ThreatMetrix and LexisNexis Risk Solutions. This starts the process of realizing the vision behind the February 2018 acquisition to transform risk decision - making through advanced identity insights that span the online and offline worlds.
ThreatMetrix and LexisNexis Risk Solutions Product Integrations
ThreatMetrix IDTM is the company’s flagship technology that expresses the complex and ever-changing attributes that make up an individual’s digital identity as a unique digital identifier. This is derived from tokenized data from 110 million daily online transactions.
To provide an even more comprehensive picture of users, ThreatMetrix ID can now incorporate user identifiers from customers or technology partners. Notably, LexID® from LexisNexis Risk Solutions, can now be incorporated as an attribute within ThreatMetrix ID.
LexID uses advanced linking technology to resolve, match and manage intersecting data points pertaining to individual consumer identities. This integration will allow businesses that are assessing transactions with this capability to now see the associations between LexID and ThreatMetrix ID. This will help bridge the gap between digital and physical identity, to provide 360-degree insight without compromising privacy.
“We are delighted to deliver the first product integrations since becoming part of LexisNexis Risk Solutions,” said Alisdair Faulkner, Chief Product Officer at ThreatMetrix. “Our combined expertise in identity will better enable our customers worldwide to protect against existing and emerging fraud, risk and financial crime. We are invigorated by the opportunity to further develop the breadth and scope of our product, driving innovation and thought leadership to remain at the forefront of the digital identity revolution.”
Additional capabilities from LexisNexis Risk Solutions have been integrated in order to advance identity verification within the ThreatMetrix platform. These include LexisNexis® Phone Finder, LexisNexis® Email Risk Assessment and LexisNexis® Order Score. All of these solutions deliver easy-to-interpret results that help customers assess risk associated with transactions throughout the customer lifecycle.
Strengthening Regulatory Compliance with Expanded Strong Customer Authentication
ThreatMetrix has additionally launched Web Strong ID, which allows for strong customer authentication (SCA) in a way that is completely invisible to the user. Expanding upon the existing Mobile Strong ID solution, this gives full coverage across web and mobile transactions.
ThreatMetrix customers can leverage a unique tamper-resistant identifier that cryptographically binds specific devices to a user’s identity. Once a device is registered in this manner, it provides a reliable and consistent way to validate the returning device on subsequent interactions.
This facilitates compliance with SCA requirements such as PDS2, and adherence to the NIST Digital Identity Guidelines by providing a second factor of authentication. This is achieved without any user interaction, eliminating the friction often associated with multi-factor authentication.
Maker-Checker Policy Approval Workflow
Another key enhancement within the Spring ’18 Release is the introduction of a maker-checker policy approval workflow. Risk decision policies can be updated seamlessly in production to instantly adapt to changing fraud tactics or consumer behaviour. However, many organizations require an auditable way to track and manage changes to policies.
The new workflow from ThreatMetrix allows for a separation of duties between policy editors (makers) and policy approvers (checkers) within the ThreatMetrix Decision Management Portal for enhanced regulatory compliance.
“ThreatMetrix is committed to innovation, developing market-leading products inspired, in part, by frequent and open dialogue with its customers,” added Faulkner. “Many features in the Spring ’18 Release are based on direct feedback from our customers, who are dealing with shifting compliance needs, an evolving technological landscape, and changing user behaviour. ThreatMetrix is enabling these organizations to continue to accelerate online profits, by offering secure, and friction-free fraud and authentication solutions to businesses and end users alike.”