To further increase the accuracy of the information reported within its Third Party Review comprehensive background check on brokers, Interthinx says it has added Advanced Name Matching into its technology platform.
The platform enhancement is intended to improve the veracity of alerts and reduce false positive alert notifications that trigger for client watch lists, Office of Foreign Asset Control, Freddie Mac Exclusionary, U.S. Dept. of Housing and Urban Development Limited Denial of Participation, National Fraud Protection Database and bankruptcy databases.
‘Most name-matching solutions identify variations due to phonetic errors, accounting for only 20 to 25 percent of all name-matching errors,’ says Stacey Louie, senior vice president of product development and engineering for Interthinx. ‘In addition to phonetic errors, the Interthinx solution will overcome common variations associated with misspellings, transpositions, acronyms, nicknames and many other errors, providing our customers better precision when approving or denying business partners.’
Source: Interthinx