Preventing cross-channel fraud linked to stolen and synthetic identities

Memento announced an agreement with IBM to deliver fraud detection solutions to the financial services industry. The two companies will jointly develop, market and sell innovative, next-generation solutions for monitoring, detecting and investigating a wide variety of fraud types, including deposit account fraud, new account fraud and insider fraud.

IBM’s InfoSphere Global Name Recognition is an enterprise tool designed to help organizations understand, analyze and process multi-cultural names to provide name processing and matching capabilities for mission critical and corporate wide applications. GNR provides enterprises with the tools to get multi-cultural name information, analytics and high performance name matching through a series of flexible, easy-to-integrate, SOA enabled interfaces, enabling customers to unlock and unleash the wealth of information in a name.

Memento’s flagship offering, Memento Security, is a unified software platform that integrates data management, advanced analytics, case management, and forensics—the critical capabilities financial institutions need to effectively combat fraud. Powered by the IBM InfoSphere Global Name Recognition software, Memento Security provides comprehensive methods for managing and analyzing identity information used to detect suspicious linkages between customer accounts and known fraudsters. The result is a more accurate, flexible, and cost-effective way for financial institutions to monitor and detect new and emerging types of fraud.