Consortium Data Sharing: A Valuable Tool in Fighting Fraud and Abuse

Shared data helps combat fraud, improve the customer experience, and facilitate transaction activity.

Data consortia provide FIs and merchants with fuel to properly assess the risk of consumer transactions and the extension of additional products and account privileges. To effectively benefit from data-sharing opportunities, users should understand the associated consumer obligations, regulatory requirements, and data integrity provisions that apply to both the provision of data to sharing consortia and the use of that data in making fraud risk decisions.

This Impact Report, commissioned by Early Warning, begins with a view into the consortium data-sharing market landscape and explores the key benefits and challenges of leveraging consortium data sharing for detecting and preventing fraud. In addition, the report will discuss the existing frameworks under which data is leveraged for fraud prevention use cases and present a specific case study of the National Shared Database Resource maintained by Early Warning.

Clients of Datos Insights’ Fraud & AML service can download this report.

This report mentions Akoya, Certegy Payment Solutions, Consumer Financial Protection Bureau, CoreLogic Credco, CrossCheck, Experian, Equifax, FIS, Fiserv, Global Payments, Innovis, LexisNexis Risk Solutions, Mastercard, National Consumer Telecom & Utilities Exchange, The Clearing House Payments Company, TransUnion, and Visa.

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