Kevari Data Network Goes Live
Kevari offers financial institutions unprecedented access to unique data and dynamic machine learning models to bolster identity verification and unveil telltale signs of account takeover and new-account fraud.
ID Insight Becomes Kevari
After nearly 20 years as ID Insight, the company embraces a new name to represent its enhanced capacity to fight account takeover and new-account fraud in the challenging, fraud-riddled digital environment.
ID Insight Invests in Enhanced Technologies
ID Insight expands and deepens its use of sophisticated technologies, including its machine learning algorithms, to serve nearly 4,000 clients.
Fraud Investigation Network Launched
ID Insight applies its award-winning fraud-mitigation technology to launch the Fraud Investigation Network, creating the unprecedented level of industry collaboration needed to detect and shut down fraud rings and schemes that target financial institutions. ID Insight is also named for the first time to the Inc. 5000 List, with three-year revenue growth of 90 percent.
Fiserv and ID Insight Launch NotifiDetect
Building on their longstanding partnership, ID Insight and Fiserv (NYSE: FISV) introduce NotifiDetect to combat account takeover. Additionally, ID Insight is a Progress Minnesota honoree.
FIS Global and ID Insight Launch FraudChex
ID Insight engages in a product-development and reseller arrangement with FIS Global (NYSE: FIS) and launches FraudChex NAF and FraudChex ATO. For this achievement, ID Insight is named an inaugural Minne Inno 50 on Fire company and earns a Eureka Innovation! Award. Hundreds of banks and credit unions contract to access the solution to fight account takeover and new-account fraud in demand deposit accounts.
ID Insight Receives Third Patent
ID Insight receives a patent for its SEEKSM (Search Engine Encryption Kit) technology. By combining a highly-secure field-level encryption package with the latest advancements in inverted indexing technologies, SEEK achieved the same functionality as the world’s best-known search engines – but uniquely enables a heightened level of data security.
Fiserv Cements Relationship with ID Insight
ID Insight signs a contract with Fiserv (NASDAQ: FISV) to support Fiserv’s Onboard Advisor and Business Process Manager solutions for new accounts.
ID Insight Awarded Second Patent
ID Insight is awarded a patent for its innovative method of focusing on differences in addresses to help banks and other financial institutions detect identify fraud. Additionally, co-founder Adam Elliott is named a Minnesotan on the Move by Finance & Commerce. The company reached $1MM in revenue and achieved break-even status, setting the stage for its next—and more stable and consistent—phase of growth.
ID Insight Receives First Patent
The company’s first patent, for “Address Differential Analysis,” serves as the basis for Safe2Change, an industry-leading account takeover solution. Also in 2009, ID Insight is named a finalist in the Minnesota Tekne Awards for the first time. It would also be a finalist in 2010 and 2016.
FACT Act Changes the Landscape
ID Insight completes its second round of fundraising and begins a several-year response to a major opportunity helping companies comply with the Fair and Accurate Credit Transaction (FACT) Act Red Flags rules. The regulations went into effect in 2008, requiring institutions to adopt procedures designed to detect the warning signs of fraud and prevent identity theft from occurring and financial institutions to develop a process to track and assess the risk involved with address-change events. For many banks and credit unions, that process included ID Insight’s Safe2Change solution.
ID Insight Acquires AddressWatch
ID Insight acquires AddressWatch, the industry’s premier database of known fraud and suspect addresses used by the majority of the nation’s largest banking institutions. Also, ID Insight is selected as one of five finalists in the Minnesota Cup, the high-profile annual competition that connects emerging entrepreneurs from across the state with tools, resources and support to launch and accelerate the development of their new ventures.
Company Goes Live with Target
ID Insight completes its first round of fundraising and goes live with big-box retailer Target (NYSE: TGT).
ID Insight is Incorporated
Founders Adam Elliott and Robert Clark (retired) create ID Insight with the goal of combining data and analytics to resolve the question of identity as it relates to address changes.
