Zoot Enterprises Inc. said it is working with ID Analytics Inc. to improve risk analysis for opening demand deposit accounts.
Zoot, of Bozeman, Mont., provides credit decisioning, loan origination and risk management tools. ID Analytics, of San Diego, offers fraud and credit scoring.
"A risk assessment strategy focused on either fraud or credit losses can fall short of isolating transactions that fall into the gray area — fraud that looks like credit risk and vice versa," Steve Seoane, ID Analytics' vice president for enterprise solutions, said in a press release Wednesday.
"Working together," he said, "Zoot and ID Analytics enable banks to avoid exposure from both types of risk."
