Credit Reporting Agency Interface Overview

Reduce loan fraud, make your service offering more attractive, generate significant recurring revenue, and get ready for accolades from your clients.

Give customers the keys; it’s their turn to drive.

It’s human nature to want to chart your own course; everyone wants to be in charge of their own destiny. Unfortunately, control is no longer the norm when it comes to identity. ID theft and ID fraud are growing at an unprecedented rate. Especially hard hit, the U.S. economy has suffered billions of dollars in damage. Estimates indicate that ID theft and fraud will exceed the value of the illegal drug trade.

iDovos began as a simple idea in response to the question “If I own my identity why can’t I control how it is used?”. The answer, of course, is that you can.

We invite you to join the revolution in personal identity management.

iDovos™ is an ID theft/fraud prevention service that employs a patent pending technology called Positive Identity Control™ (PIC).

PIC is unique in that it gives the individual control over use of their identity and identity assets. PIC answers the following question for every transaction which relies on identity use:

Has the identity owner given consent for their identity to be used at this point in time and for this specific identity asset?

PIC Implementation Requirements

CRA systems process millions of transactions each day. Regardless of the format of the response to these transactions, support exists for alert capabilities. Positive Identity Control is a form of alert and as such can be reported within that alert structure.

PIC integration requires extending the current process to determine intent of the individual relative to use of their identity for each new credit inquiry. If identity use is not permitted at a specific point in time for new credit, the credit information would be returned with an indication in the alert field indicating there is a potential problem. Otherwise, the process proceeds in a normal manner.

CRAs must be capable of asset registration, PIC account differentiation, and ID state determination tasks in order to support PIC:

1. Asset Registration: Asset registration requires storage of an identity asset token for each CRA account electing PIC support. Tokens are unique externally generated values created by the iDovos service. Each token provides a means of communicating identity state information about an account without disclosing use-enabling information. Assets (in this case a CRA account) may be registered by a subscription agent during the iDovos account activation process or individually upon the request of the asset holder (the CRA). CRAs may be subscription agents for iDovos accounts.

2. PIC Account Differentiation: CRA systems must be able to determine if an account is subject to Positive Identity Control. Step 1 (Asset registration) would have created an account-level field indicating the CRA account is subject to Positive Identity Control restrictions.

3. ID Use State Determination: If the account is PIC-enabled, the system must determine identity state for each credit inquiry and respond accordingly. Only two states exist; ON and OFF. For low-volume systems, this determination can be made by issuing a query in the form of a web services transaction executed against the iDovos site.For high volume systems, a local database can be accessed to determine identity use state. These local database tables are updated by iDovos at each CRA site. Each time the (identity use) state of an account changes, the resultant state is updated in the table located at the CRA site.

iDovos™ and the Consumer experience

Your customers control identity assets (personal credit and card accounts) using an advanced Web interface and/or a touchtone phone. CRA “new credit” assets can be turned on for a specific period of time creating a window of credit evaluation opportunity. Other identity assets can be set on autopilot so that daily management is not required. Assets can be set to run on specific schedules or simply left off until needed. When a card account is turned on, it can use the “egg-timer” capability. The card “expires” and becomes useless again after the designated period of time. Use-enabling information such as card account and social security numbers is NEVER stored or transmitted by iDovos.

Your Revenue Growth

Offering iDovos to consumers is not just forward leaning in the battle against identity theft. If your company is a primary subscriber for iDovos accounts, substantial recurring revenue can be generated from subscription fees. If you do not subscribe the account but offer PIC protection to the consumer, resulting transaction fees can also be substantial. Each time the CRA account is switched to the “ON” state a transaction fee is charged. iDovos can help you attract new customers and build stronger relationships with existing customers by extending existing credit reporting offerings. Contact your iDovos representative for complete details.