Cloud-based system promises optimal data protection and enhanced performance
Equifax Canada has announced the launch of its cloud-based FraudIQ Manager, a fraud prevention platform that is designed around advanced analytics and rich data sources.
The new system is designed to provide optimal protection to consumers’ data and enhanced performance for mortgage professionals, while remaining sufficiently flexible in responding to evolving market needs.
“We’ve reimagined and reengineered our tools and technology to deliver world-class data, analytics, and solutions,” said Sue Hutchison, president of Equifax Canada. “Innovation of this kind is part of our digital transformation journey to provide our clients with the unrivalled decision intelligence they need to grow their business and mitigate risk.”
The platform will be backed by Equifax’s FraudIQ Exchange, which has been used by major banks, financial institutions, and other organizations for 15 years now.
In the past half decade alone, Equifax Canada’s systems have helped organizations prevent more than $5 billion in losses to fraud, the company said.
“As businesses navigate through economic challenges, it’s crucial to prioritize growth and cost savings, and of course, the goal is to prevent fraud before it happens,” said Carl Davies, head of fraud and identity at Equifax Canada.
“FraudIQ Manager, through its advanced technology, helps organizations efficiently capture fraud without increasing operational costs. By reducing false positives, we can help businesses convert more customers, accelerate revenue, and ultimately achieve their growth objectives.”
