CSC Debuts New Web-based Service to Resolve ID Discrepancies

CSC has unveiled a new Web-based service termed as ComplyID with a goal to help creditors enhance protection, decrease impact of consumer identity theft and help clients satisfy the demands of federal "Red Flag" regulations.

 

CSC says ComplyID is a decision and workflow software solution that addresses sections 315 and 114 of the Fair and Accurate Credit Transaction Act of 2003 (FACTA) by identifying and resolving bureau alerts and ID discrepancies, and providing tracking and reporting for compliance measures.

 

CSC is a provider of technology-enabled solutions and services through three primary lines of business which include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector.

 

CSC says the Red Flag regulations of the FACT Act have put many creditors in hardship through charting out strategies to comply with the act. The act applies to any creditor that offers or manages accounts involving multiple payments for personal, family or household purposes.

 

The company’s officials said ComplyID service can be incorporated with credit granting system’s own theft identification processes to quicken the process of sorting out malicious activities or ‘Red Flags’ like address variances as defined by FACTA. Officials add that ComplyID Red Flag and ID Validation Services automatically detect more than 200 credit report red flags as well as other alerts related to ID discrepancies.

 

Upon detection, ComplyID automatically verifies, validates and resolves discrepancies through multiple data sources. And upon certain requirements a real-time interactive question-and-answer authentication option can also be employed. ComplyID scores the results consistently with the organization’s credit rules and risk policies. This approach is stated to help the staff quickly resolve ID issues and removes processing bottlenecks.

 

"All U.S. lenders that offer and maintain consumer credit accounts must implement Red Flag programs to address consumer identity theft," said John Dickson, president of CSC Credit Services. "We're dedicated to enhancing our clients' ability both to easily and quickly comply with these new federal regulations and protect themselves and their customers from fraud."

 

The service not only just enables the organization’s staff to eliminate delays it can also incorporate and help to enforce the ID theft prevention program and risk policies, ensuring a standardized approach to ID validation across multiple lines of business.