Triad Financial Chooses InstantID(R) by LexisNexis(TM) RiskWise(R) To Help Prevent Identity Fraud

InstantID saves money and helps assist with USA PATRIOT Act, Section 326 compliance requirements

DAYTON, Ohio, Oct. 1 -- Triad Financial has aligned with LexisNexis(TM) RiskWise(R) as part of its efforts to prevent identity fraud. Triad turns to LexisNexis RiskWise InstantID(R) to screen their higher-risk, new account applicants. Triad Financial specializes in granting credit to consumers who have difficulty obtaining financing from conventional sources.

"InstantID offered by LexisNexis, in a unique alliance with the American Bankers Association, not only helps financial institutions comply with Section 326 of the PATRIOT Act, but also results in savings through improved anti-identity theft measures and fraud prevention," said Chris Jones, senior vice president of LexisNexis Risk Management.

"Triad has depended on InstantID for two years and we've found that it is fast, accurate and reliably meets our needs," said Marcella Martin, a spokesperson for Triad. "Most importantly, InstantID saved us $14,000 on the very first day we used it. In one of the cases, a loan applicant fabricated his employment information, pay stub and driver's license, making him look like a legitimate buyer. However, InstantID found that the information he presented was not valid."

InstantID works by searching multiple databases to verify and validate the authenticity of an applicant's identity. InstantID is designed to work with a variety of account opening processes and is available via on-line, Web-based searches, batch-processing or through systems integration in existing platforms.

"We used to rely on credit reports, experience and instinct to verify identity," said Martin.

The Comprehensive Verification Index (CVI) within InstantID illustrates risk in terms of the information provided and the degree to which it is validated. It is also indicative of potential fraud risk and identity theft. The data located in the search processes is helpful for follow-up, due diligence and fraud prevention efforts taken by financial institutions.

InstantID is also available to assess new accounts opened on behalf of a business entity. The business processes can assess data for the business entity alone or can simultaneously assess both the business information and a set of individual information. The latter solution is particularly effective when opening a small business account, which often includes both business and individual information.

About Triad Financial

Triad focuses on non-prime lending for new and late model used automobile purchases. The company is headquartered in Huntington Beach, Calif., has over 1,400 employees, and presently purchases consumer contracts in 32 states from over 7,500 automotive dealers.

About LexisNexis

LexisNexis U.S. ( www.lexisnexis.com ) is a global leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc ( www.reedelsevier.com ), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based research service, LexisNexis, the company includes some of the world's most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, Les Editions du Juris-Classeur, Abeledo-Perrot and Orac.

In the U.S., LexisNexis (www.lexisnexis.com), an information solution provider, offers an extensive range of products and customized tools that address job-specific and organization-wide information needs, driving productivity and confident decision-making. LexisNexis draws on its 30-year history of data expertise to develop leading applications, which assist customers in authenticating identity, mitigating risk, predicting fraud, and acquiring more customers. With LexisNexis, customers may see measurable results such as increasing customer acquisition, reducing identity fraud, reducing fraud losses, predicting fraud, and streamlining investigation processes. LexisNexis focuses in the industries of financial services and collections, insurance, law enforcement, the federal government, retail, Internet transactions, and telecommunications. For more information on LexisNexis(TM) Risk Management, visit: www.lexisnexis.com/riskmanagement .

The information gained from InstantID is not to be considered a consumer report (as that term is defined in the Fair Credit Reporting Act 15 U.S.C. Section 1681, et seq.) and may not be used to determine a consumer's eligibility for credit or insurance for personal, family, or household purposes; employment; a government license, or benefit, or other transaction initiated by a consumer.