The Jacksonville, Fla., mortgage title insurer Fidelity National Financial Inc. has agreed to use a security technology from ID Analytics Inc. of San Diego to gauge the legitimacy of mortgage applications.
ID Analytics announced the agreement Wednesday.
Its ID Network uses information from several industries that require identity verification, including financial services, health care, utilities, e-commerce, government, and telecommunications. The pooled information helps the network determine what types of purchasing and financial behavior fit with a particular individual's pattern and spot transactions that do not fit an applicant's past behavior.
"As a result of increased identity theft and mortgage fraud, we needed a solution that would help us authenticate identities during the life cycle of a real estate transaction," John Crowley, the chief information officer for Fidelity National, said in an ID Analytics press release.
