SOURCE: CBC Companies

December 04, 2007 09:57 ET

CBC Companies Enhances Suite of Fraud Prevention Tools With Addition of DataVerify

Industry to Benefit From Comprehensive Platform of Fraud, Financial and Collateral Risk Management Solutions

COLUMBUS, OH--(Marketwire - December 4, 2007) - CBC Companies, a leading provider of credit and risk management solutions, is pleased to announce that it has added to its family of companies, DataVerify, a provider of mortgage risk assessment and fraud prevention systems. CBC Companies will leverage DataVerify's unique fraud and data integrity analytics, rules and scoring to deliver unparalleled solutions to solve complex mortgage risk issues.

DataVerify's solutions automate most of the data validation steps in the lending process, increasing efficiencies, performance, pull throughs and controls, while reducing approval and processing timeframes. Mortgage lenders benefit from DataVerify's ability to successfully predict large mortgage losses early on in the origination process.

Resulting benefits to DataVerify and CBC Companies customers include:

--  Increased loan production and revenues.
--  Mitigation of financial and reputational risks.
--  Conformity with regulations.
--  Lower operational costs.
    

"This combination significantly increases DataVerify's strength in the fraud prevention and risk management space," Steve Halper, CEO and president of DataVerify said. "Together the companies will leverage their industry experienced associates, 60 years of servicing excellence, and their unique data and technology assets to ensure that their customers get the right solutions and benefits. CBC Companies and DataVerify are now positioned to provide its lender, servicer, investor and insurer customers with an even greater abundance of superior performing loss mitigation solutions and support."

DataVerify's core technology advantage is its DRIVE™ (Data Risk Intelligent Verification Engine) decision system. Using open standards technology such as Web Services, DRIVE™ enables businesses to incorporate the highest quality fraud-rules-based decisioning software directly into their existing systems and workflow. DRIVE™ increases business agility by enabling customization of fraud system rules for specific customer requirements.

About CBC Companies

Headquartered in Columbus, Ohio, CBC Companies provides solutions such as credit reports, property information services, receivables management, employment and resident screening, and loan application processing software services. CBC Companies, a privately held family of companies established in 1948, provides risk management and marketing services to customers in the business, government and not-for-profit sectors. CBC Companies serves over 20,000 customers. For more information, please visit www.cbcinnovis.com.

About DataVerify

DataVerify is a leading provider of fraud prevention and decision management solutions for the mortgage industry. DataVerify's executive team has leveraged more than a dozen years of anti-fraud system experience to create a new "next generation" platform that utilizes the latest .NET technology to deliver superior anti-fraud products powered with more robust exterior database sources, superior predictive analytics and a comprehensive array of new and advanced features. These advancements allow lenders to predict fraud and mitigate losses with unprecedented accuracy while increasing workflow efficiency and reducing loan approval timeframes at the point of sale. For more information about DataVerify, call 866-895-3282 or visit the company online at www.dataverify.com.

Contact Information

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