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SEON and Prodigy’s IDVerifact team up to crack down on digital identity fraud

June 8, 2021 – Prodigy Ventures Inc. announced an agreement entered into between its wholly-owned subsidiary, IDVerifact Inc. and Seon, the fraud fighters. 

Last year it was reported that nearly half of companies experienced a fraud in the past 24 months. Recognizing the increasing surge in fraud and digital identity theft, IDVerifact sought to strengthen its capabilities by partnering with SEON to extend its comprehensive suite of solutions.

IDVerifact removes the challenges associated with a traditional approach to onboarding, maintaining and optimising multiple digital identity partners. It achieves this with a complete suite of continually evolving digital identity solutions, allowing organizations to rapidly capture the data attributes required to complete trusted business transactions with their clients. As part of the agreement, IDVerifact will integrate SEON’s cloud-based machine learning platform, Intelligence Tool, into the IDVerifact platform to provide inputs for user profiling decisions on transactions, all in real-time. 

Built for data enrichment, SEON’s Intelligence Tool scans open-source databases and gathers extra information about users based on an email address, phone number or IP address. It also enables users to simply check if an email address is valid or not and instantly get background information to create a complete user profile, flag fraudsters, confirm suspicions or remove doubts. 

“The issue we are seeing is that fraudulent activity is only increasing, yet there is no one size fits all standardized method for digital identity. But, no matter who you are or where you’re transacting, it should be secure,” said George Colwell, Sr. Vice President at IDVerifact. “That’s why we developed a one stop shop for digital identity solutions, enabling customers to choose from a menu of data attributes that uniquely suit their organization. We believe that SEON is an ideal partner to support us in reaching our goals.”

To learn more, visit our websites, https://prodigy.ventures/ and  https://idverifact.com/

To learn more about SEON and the services it provides, visit: https://seon.io/