FICO, a predictive analytics and decision management software company, has released Identity Resolution Engine 3.6, software that improves personal identification to detect criminal fraud rings and other forms of crime. The new version combines entity resolution with social network analytics to help banks, insurance companies and government agencies uncover criminal rings, expose money laundering schemes, detect insider fraud, enhance screening processes, uncover terrorist networks and investigate crime.
The software uses identity resolution, and social network analysis software enables users to understand the relationships between their organizations, customers, events and third-parties, said FICO. Identity Resolution Engine helps stop organized criminal rings by exposing links between one suspicious person or activity and others that have gone undetected.
With Identity Resolution Engine, organizations can perform searches across disparate data to find, match and link similar entities and uncover hidden relationship between people, places and things, FICO said. Identity Resolution Engine is a software add-on to the FICO Falcon Fraud Platform and is used with other fraud applications from FICO, such as Application Fraud Manager and Insurance Fraud Manager, to improve fraud investigations and detection, FICO said.
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