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REDMOND, WA -- (Marketwired) -- 02/18/14 -- Versium (www.versium.com), a data technology company that operates a LifeData® predictive analytics scoring service, today announced the launch of its Predictive FraudScore solution. Leveraging Versium's LifeData platform and predictive modeling technologies, the company can now predict and prevent fraud with just an email address. Versium's FraudScore is the latest solution available in the company's suite of Predictive Scores' solutions, announced last quarter http://www.marketwired.com/press-release/leveraging-its-lifedata-platform-versium-launches-suite-predictive-scores-providing-1842967.htm.

Instrumental in building fraud-detection software in the 1990s used by major credit cards, Allen Jost, one of the co-creators of FICO's "Falcon Score," the most recognized fraud solution in financial services worldwide, said, "Versium has taken the most complex scoring concepts, figured out how to factor in unique online and offline behavioral data and integrate this with an enterprise's existing data to realize more accurate predictive models. Most important is that the output, being a simple score, is easy to access, understand, act upon and measure performance."

"The beauty of our FraudScore is that it allows a company to be proactive versus reactive; it's easy to understand and very accurate. We're helping organizations get in front of fraudulent activity before it occurs by predicting a fraudulent accounts before the fraudster is able to commit a fraudulent act, enabling companies to immediately prevent it," said Chris Matty, Versium CEO. "We have been testing this solution with numerous commercial partners in the financial, payment and ecommerce industries and are seeing fraud capture rates as high as 80 percent with false positive rates as low as four percent."

Fraudsters have become very good at stealing a consumer's identity and applying for credit or opening a new ecommerce account. Traditional authentication and prevention efforts have become less effective as the fraudsters are more adept at getting around these methods. The problem stems from the account issuer having no first-hand knowledge of the applicant. Credit reports, Social Security Number (SSN) checks and background questions are becoming ineffective as modern day fraud perpetrators have the ability to illegally replicate a valid user's profile. Versium's LifeData and patent pending online profiling engine holds a living history of the applicant including their Internet and social network activity. This unique insight provides powerful data signal for the company's machine learning and predictive algorithms. Given as little as an email at account opening Versium can return a score instantly indicating the fraud risk associated with the new account.

A fraudster who attempts to use a stolen credit card or create a new identity from a real SSN, often called synthetic fraud, will yield a high risk score and can be stopped up stream from traditional prevention methods based on the predictive power of Versium's LifeData technologies.

Versium is currently in full commercial beta trials with its FraudScore solution. For more information on how to participate, please contact: fraud@versium.com or visit www.versium.com/fraudscore.

About Versium
Versium (www.versium.com) is a data technology company that operates a LifeData™ predictive analytics scoring engine. These technologies enable organizations to be more data-driven by powering and creating solutions that help optimize consumer engagement, improve marketing efficiencies and better understand, retain and find new customers. Versium brings together disparate sets of observational data, comprised of over 300 billion real-life attributes and combines these insights with an organization's existing enterprise data to provide a richer, more actionable profile of each individual consumer and more intelligent analytic models. For more information, please visit www.versium.com or follow us on Twitter @versiumsocial.