Two Firms Team To Fight Fraud
Edentify Inc., a provider of identity management and fraud detection solutions, is partnering with eDominate Inc., a provider of buying-cycle management software for financial institutions.
Edentify's IDScreenT identity fraud detection solution will now be used with eDominate's Loan Origination System Plus and e-commerce management products to verify and monitor loan applicants' identities at eDominate's customer banks, credit unions and finance companies.
The partnership brings Edentify's technology to the online lending market for the first time.
"Our agreement with eDominate launches us into the enormous loan origination field, where previously we had no presence," said Terrence DeFranco, CEO of Edentify. "Now we have exposure to hundreds of blue-chip financial institutions potentially using our identity fraud solutions. From a standing start, we instantly have a solid footing in this new industry from which we can continue to expand. Moreover, this partnership gives eDominate's customers a powerful tool to ensure the validity of their loan applicants' identities."
Edentify's IDScreenT solution vets applicants' information in real time and measures their level of identity risk as high, medium or low. This lets eDominate's customers investigate suspicious identities before approving applicants for a loan and prevents fraudulent activity. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com