NEW YORK, May 25 (UPI) -- IBM has enhanced its analytical software to help banks, insurers and other commercial customers foil fraud and money-laundering schemes.
The Entity Analytics Solutions (EAS) 4.1 allows users to analyze and compare data stored in individual information silos in five different languages and instantly match up identities of potential fraud perpetrators.
The system homes in on what Big Blue termed "non-obvious" information such as shared phone numbers, bank accounts and addresses, and shares it in a way that doesn't compromise privacy.
"Fraud and abuse do not recognize geographic, technical, political, or cultural boundaries," said IBM Vice President John Slitz. "IBM's enhanced Entity Analytics portfolio takes these customer requirements into account and makes it possible for companies to get the right information, to the right place, in real time, to respond to threats in-line at the point of contact, regardless of language, platform, or geography."
EAS 4.1 will be targeted to major commercial customers that are frequent targets of fraud, such as banks, insurance companies, retailers and healthcare systems.
