ID Insight Expands Management Team: Financial Veteran Lee Runzheimer Appointed CFO
NORTHFIELD, MINN. (January 3, 2008) —As Minnesota-based fraud-prevention company ID Insight, Inc., prepares for significant growth in 2008 and beyond, it announces the addition of financial veteran Lee Runzheimer as Chief Financial Officer.
Runzheimer brings more than 20 years of senior-level CFO, IT, treasurer and controller experience to ID Insight, a five-year-old provider of analytics-based identity risk and fraud solutions. Runzheimer has served as CFO of Osmonics, Inc., a $200-million manufacturer of industrial water purification equipment which was subsequently acquired by GE, as well as CFO of Hitchcock Industries, Inc., a $40-million designer and manufacturer of precision components for the aerospace industry. He is also a founder and director of Maximum Solutions, Inc., a software company that has grown rapidly to 800 installed user systems.
In his new role as CFO at ID Insight, Runzheimer will be responsible for helping to guide the company as it enters a new growth phase. “With the addition of Lee to our management team, ID Insight is prepared to embrace all the challenges and opportunities that come with rapid expansion,” says ID Insight president and co-founder Adam Elliott. Runzheimer earned his undergraduate degree from the University of Wisconsin and received an MBA in International Business from Harvard Business School.
Founded in 2002 by recognized leaders in the financial services industry, ID Insight, Inc., has quickly established itself as a leader in identity fraud prevention. By developing innovative scoring technologies and tapping unconventional data sources, ID Insight has bridged a critical gap in fraud risk and compliance solutions for the United States’ top banks, credit card issuers, retailers, wireless providers, online merchants, and financial services companies.
Now that the Fair and Accurate Credit Transactions (FACT) Act Red Flag and Address Discrepancy rules have been finalized, financial companies will soon be required to resolve customer address changes on new and existing accounts. With its proprietary address-focused analytics, ID Insight provides financial services companies with cutting-edge solutions designed to reduce costs and profitably comply with these new FACT Act requirements, all while protecting customers against identity theft.
# # #
Media Contacts:
- Brian Bellmont for ID Insight, (952) 233-0428,
