January 30, 2007 08:00 ET

Verid Process Now Spots Suspicious Internet Identity Activity, Ratchets Up Security in Real-Time

"Must Have" Intelligence Detects Identity Problems Before They Happen

FT. LAUDERDALE, FL -- (MARKET WIRE) -- January 30, 2007 -- Verid, the leader in Knowledge Based Authentication (KBA), today announced a significant new capability that will spot suspicious identity activity and ratchet up authentication security in real-time. IdentityEvent™ is the first service that raises an alert before an identity theft actually takes place, making any identity verification far more effective.

"Verid's clients will now have a very clear picture if someone is out there in the real world trying to piece together an identity, and they'll know about it in time to do something before the damage is done," said Verid CEO Kevin Watson. "Until now the emphasis was on remedies after the horse had left the barn. We're turning that model on its head to stop identity theft before it occurs. This is must have intelligence going forward."

The IdentityEvent module checks for indications that someone is researching an individual's background or identity on the Internet and adjusts the authentication process accordingly. An important component is activity reported by clients across Verid's network. For example, if someone tried an authentication against the Verid process and failed to answer any questions correctly, that is a strong indicator something is wrong. IdentityEvent also examines many external resources, including velocity of failed authentication attempts, online background checks and data breach information. Verid process responses can include avoiding questions about information that is likely to be known by others or raising the level of authentication, depending on the security preferences of Verid's customer.

Verid recently introduced a major new version adding the capability to react to adaptive triggers in real-time and change verification requirements. IdentityEvent relies on this new feature. Version 6.0 also integrates customer proprietary information, paving the way for companies to use the Verid process for routine authentication and replace shared secrets or customer service representative dependent solutions.

About Verid

Verid is the leading provider of real-time authentication solutions that accurately verify identity without compromising consumers' comfort, convenience or privacy. Verid's Knowledge Based Authentication (KBA) service helps businesses manage risk, and establish and maintain high quality customer relationships. Verid's clients include 8 of the top 10 financial service providers, 3 of the top 6 telecom/wireless providers and 3 of the top 10 retailers. Verid's technology is fully compatible with fraud management systems, and delivers turnkey, highly available solutions backed by extensive client support and data analysis. For further information regarding Verid, please visit the Web site at, or call toll-free at 1-888-533-5300.

Contact Information

  • Media Contact:
    Deb Montner
    Montner & Associates