Experian Releases New Version of CrossCore Identity and Fraud Risk Platform
Experian has updated its CrossCore platform, which combines risk-based authentication, identity proofing, and fraud detection into a single cloud platform with flexible decisioning orchestration and advanced analytics.
"Now more than ever, businesses need to lean on capabilities and technology that will allow them to rapidly respond in these challenging times, increase identity confidence in every transaction, and provide a safe and convenient experience for customers," said E.K. Koh, Experian's senior vice president of global identity and fraud solutions, in a statement. "This new CrossCore release enables businesses to easily leverage best-in-class, pre-integrated identity and fraud services through simple self-service."
CrossCore combines advanced analytics with Experian's rich data assets with identity insights and capabilities from its curated partner ecosystem. Updates to the new version include the ability for clients to submit dynamic API request payloads, apply progressive risk assessments, apply parallel logic, enable self-service workflow configurations, and provide an online business intelligence (BI) module to view transactional volume reports. These updates are designed to provide a simpler way to manage complex orchestration; faster, more scalable performance; and key performance indicators in near real time, all while enabling a personalized and seamless experience for their true customers.
"Recent Aite Group research shows that many banks have seen digital channel usage increase 250 percent in the wake of the pandemic, so ensuring a seamless and safe customer experience is more important than ever," said Julie Conroy, research director at Aite Group, in a statement. "Platforms such as CrossCore, that can enable businesses to nimbly respond to changing patterns of customer behavior as well as rapidly evolving attack tactics, are more important than ever, as financial services firms work to balance fraud mitigation with the customer experience."