Using an AI ID kount like Equifax Luminate is an incredible way to manage your employee’s identities. You can ensure that they are secure, confidential, and not compromised by any fraudulent activity. Moreover, you can be confident that the information they provide is accurate and up to date.
Identity Trust Global Network
Equifax has recently acquired Kount, a digital identity software company that has expanded its reach into the fraud prevention space. By integrating its technology with its own, Equifax can offer a more comprehensive AI-driven fraud prevention solution. The deal will also expand its global presence in the digital identity space.
Kount’s Identity Trust Global Network is powered by award-winning AI and connects billions of trust and fraud signals from more than 17 billion devices. This helps to ensure a personalized customer experience, and decreases digital fraud. Moreover, its integration with Equifax’s Luminate fraud platform will improve account creation, login, and dispute processes.
Kount has more than 6,500 customers, and its data covers more than 250 countries. It is a leading AI-driven fraud prevention solution. With this partnership, Kount will become part of Equifax’s information solutions business unit.
The partnership will allow both companies to offer deeper insights and improved analytics. In addition, Kount and Equifax will work together to develop new offers and services.
AI determines the trustworthiness of any identity
As AI advances, technical standards are being proposed to assess the trustworthiness of AI-based systems. Developing standards can be a more cost-effective way to evaluate AI-enabled systems.
In order to determine the trustworthiness of an AI system, a number of factors need to be considered. This includes safety, ethics, accountability, and transparency. However, many of these variables are difficult to measure and are often unclear. Therefore, a systematic approach is needed.
To determine the trustworthiness of an AI system, researchers should first identify and document the relevant variables. Then, they should use a bibliographic survey to quantify the variables. It is also important to evaluate the outcomes of the proposed mechanisms.
Ultimately, a trustworthiness framework can provide an algorithmic level of abstraction for AI systems. The Framework provides six pillars of trustworthiness: integrity, privacy, safety, accountability, fairness, and sustainability.
Regardless of the methodology, the goal is to ensure that the decision-making process is understandable. If the decision-making process is understandable, then the user will be more likely to trust the AI.
The Luminate Platform is a centralized and scalable solution combining data acquisition, data orchestration, machine learning and artificial intelligence to provide insights and actionable alerts for risk managers. It includes a robust suite of products with a flexible plug and play interface that enables customers to customize their experience to their unique business needs.
The Luminate Platform is built for fraud prevention and customer service and provides insights into the fraud decisions that affect consumers, including the ones you don’t even realize are happening. Using machine learning and artificial intelligence, the platform orchestrates the collection and analysis of data to provide a more comprehensive view of your customers, thereby ensuring that the right people have access to the information they need to make informed decisions.
For example, Luminate provides an easy-to-use interface that helps you to access all the relevant customer data at the touch of a button. It also includes an adaptive learning layer that allows you to quickly and easily train your models to perform better. Moreover, Luminate uses an advanced analytics suite to glean insights from data and present them in a way that’s easy to understand.
Kount has been providing fraud prevention services to thousands of global brands. Their Identity Trust Global Network combines fraud data signals from nearly 5 billion yearly transactions. This system allows clients to tailor their experiences and protects online businesses against fraud. As more data is collected, the network becomes more predictive. In fact, Brooks Running, one of the 2020 Digital Commerce 360 Top 500 brands, has used Kount to detect a fraudulent attack on its website. Now, Kount is in the process of integrating its products into Equifax’s Luminate Platform.
The acquisition is expected to close in the first quarter of 2021. Kount will be integrated with Equifax’s United States Information Solutions (USIS) business unit, which is subject to regulatory review. According to Equifax, the company’s Luminate fraud platform orchestrates multiple solutions to provide risk managers with a comprehensive view of customer and fraud risks. It uses machine learning to provide actionable insights and advanced analytics.