Demos Highlight How to Combat Fraud, Minimize Risk and False Positives, and Maintain Compliance While Pursuing a Frictionless Customer Experience

SINGAPORE and RANCHO SANTA MARGARITA, Calif., March 11, 2019 (GLOBE NEWSWIRE) -- Melissa, a leading provider of global contact data quality and identity verification (IDV) solutions, will demonstrate its comprehensive IDV solutions that work side-by-side with existing banking software platforms at the upcoming Money 20/20 Asia conference. Melissa’s next generation solutions seamlessly verify identity to support financial institutions’ (FIs) efforts to combat fraud, minimize risk and false positives, and remain compliant to the spectrum of banking regulations and data standards―without intruding on the customer experience.

According to “Identity Verification: Successful Strategies to Minimize False Positives and Risk,” a recent report commissioned by Melissa and produced by Aite Group, identity theft and synthetic identity fraud play a substantial role in application fraud, and the combined impact of these attack schemes will cause more than US$2.7 billion in US credit card and DDA fraud losses through 2020.

“Melissa’s IDV technologies focus on two key challenges in banking: mitigating fraud and reducing customer friction,” said Bud Walker, vice president enterprise sales and strategy, Melissa. “Our multilayered process taps into authoritative in-country data sets from all over the world containing billions of records, empowering FIs to instantly validate an identity. This depth of intelligence effectively lessens the identity verification burden, allowing the FI to shift focus to enhancing the customer journey.”

The proofing process also includes national ID and age verification, and flags suspicious individuals who appear on any of dozens of Office of Foreign Assets Control and European Union watchlists to minimize risk and enable smarter decisions on next steps.

Melissa’s newly-opened office in Singapore strengthens the company’s reach throughout the Asia-Pacific region. Melissa’s IDV technologies will be featured at Money 20/20 Asia, Booth #E47 at The Marina Bay Sands Expo & Convention Centre in Singapore, March 19-21, 2019. Click here to confirm an onsite technology briefing or visit the booth during regular show hours.

About Melissa
Melissa delivers flexible, real-time technology solutions for identity verification and entity resolution in the card not present space. Since 1985, more than 10,000 global customers including banks, credit unions, mortgage lenders, and payment providers have relied on Melissa to verify an individual’s identity, and maintain clean, up-to-date and enriched data assets to deliver outstanding customer experience while minimizing risk and fraud. For more information or free product trials, visit www.Melissa.com or call 1-800-MELISSA (635-4772).

Singapore media contacts onsite at Money20/20 booth #E47:
Edmund NG, Regional Sales Director, Melissa Singapore
Cell +61 02 8091 6000

Bobby Joseph, Director – Key Accounts & Partners, Melissa APAC
Cell +91-8095894495

U.S. media contacts:
Greg Brown, vice president, marketing, Melissa
greg.brown@Melissa.com
(800) 635-4772 x1130

Jackie Zerbst, MPowered Public Relations
pr@mpoweredpr.com
(877) 794-6777