ID INSIGHT ACQUIRES LOSS CONTROL TECHNOLOGIES
Minnesota-Based Analytics Company Expands Product Offering with Key Acquisition.
St. Paul, Minn., May 22, 2006 — Today ID Insight Inc, provider of analytics-based fraud detection solutions, has announced its acquisition of Loss Control Technologies Inc. (LCT), a Florida-based data provider. With the strategic addition of this potent data source of suspicious address and delivery points, ID Insight will further widen its product base and venture into new market segments according to Adam Elliott, President of ID Insight.
"ID Insight is elated about the acquisition," says Elliott. "For decades, LCT has been providing financial institutions, government agencies, and others with listings of the highest risk addresses in North America. In addition to being integrated right into our core Safe2Change solution, this data by itself is extremely useful across a number of industries in multiple channels. In e-commerce, suppression lists, insurance, new accounts, fulfillment and more; the list just goes on," added Elliott.
Along with using the acquisition as an avenue to expand into new markets, ID Insight plans to enhance its current solution set with the LCT data sources. "In testing this database against every other suspect address list out there, we've long known that LCT's data is by far the best of its kind. For that reason alone, we made it a priority for our new Safe2Change solution," says Elliott. "On top of that, ID Insight has a mountain of robust proprietary data that will immediately strengthen the LCT data solutions."
About Loss Control Technologies, Inc.
Founded in 1984, Loss Control Technologies has been helping businesses in multiple industries protect themselves from fraud. Particularly in the banking and insurance markets, LCT provides its clients with data containing high-risk addresses and access points known to be predictive of fraudulent activity. In numerous applications, this data has proven to be very powerful in curbing chargebacks and other losses due to fraud.
About ID Insight, Inc.
Founded in 2002 by recognized leaders in the financial services industry, ID Insight has quickly established itself as a knowledge leader in identity fraud prevention. In building cutting edge solutions around the original concept of Address Differential Analysis, ID Insight has bridged a critical gap in identity risk management. ID Insight currently provides specialized solutions to top banks, credit card issuers, retailers, wireless providers, online merchants, and financial services companies.
This article can be found in Business Wire.
# # #
Media Contacts:
- Brian Bellmont for ID Insight, (952) 233-0428,
