Edentify Establishes Presence in Loan Origination Market with eDominate Partnership
Posted by Terrence DeFranco on Wed, May 23, 2007 @ 07:44 AM
Bethlehem, Pa.
Edentify Inc. (OTC BB: EDFY.OB), a leading provider of identity management and fraud detection solutions, today announced its partnership with eDominate Inc., a global provider of buying-cycle management software for financial institutions. Edentify’s IDScreen™ identity fraud detection solutions will now be used with eDominate’s Loan Origination System Plus (LOS+) and eCommerce Management (eCM) products to verify and monitor loan applicants’ identities at eDominate’s customer banks, credit unions, and finance companies. The partnership brings Edentify’s technology to the online lending market for the first time.
“Our agreement with eDominate launches us into the enormous loan origination field, where previously we had no presence,” says Terrence DeFranco, CEO of Edentify, in Bethlehem, Pa. “Now we have exposure to hundreds of blue-chip financial institutions potentially using our identity fraud solutions. From a standing start, we instantly have a solid footing in this new industry from which we can continue to expand. Moreover, this partnership gives eDominate’s customers a powerful tool to ensure the validity of their loan applicants’ identities.”
Edentify’s IDScreen™ solution vets applicants’ information in real time, and measures their level of identity risk as high, medium, or low. This lets eDominate’s customers investigate suspicious identities before approving applicants for a loan, and prevents fraudulent activity. eDominate can also offer its customers Edentify’s IDAlert™ solution, which monitors identity activity every 30 days, and notifies them when identities have been breached. Each time an eDominate customer opens a loan, it puts the IDScreen™ and IDAlert™ solutions in motion, generating revenue for Edentify.
“Edentify’s identity protection features are the best we’ve seen in the industry,” said Michael Jones, VP of Business Development at eDominate, in Phoenix, Az. “We are thrilled to bring their technology into our lending products, securing a critical piece of the buying-cycle management process: identity validation and fraud prevention at the start of any new financial relationship. For our online lending customers, eDominate’s product suite now provides the unique advantages of marketing, originating, and cross-selling loans in the most secure and regulatory-compliant system available.”
ABOUT EDENTIFY
Edentify, Inc. ("Edentify") was formed in August 2004 with the objective of becoming the leading organization in the field of developing and deploying data analysis technology solutions for preventing identity theft and fraud. It is currently a later-stage development company and expects shortly to begin a period of increased growth. Edentify will seek to fulfill its goals by analyzing the means by which identity crimes are perpetrated and through the development of new technologies and procedures to assist corporations, the government and consumers in the fight against identity fraud and related crime.
ABOUT EDOMINATE
eDominate, Inc. (“eDominate”) is a global provider of buying-cycle management software for financial institutions. eDominate’s Internet solutions include research and evaluation tools for customers, loan marketing and education, loan origination, secure online communications, individualized customer cross-sales, and business-partner promotion features. Banks, credit unions, and finance companies use eDominate software to extend their native lending cycles into more profitable buying-cycles — leveraging greater customer service and sales opportunities to dominate their markets. eDominate’s software can be delivered internationally and customized to accommodate almost any banking or lending processes online. For more information, please visit www.eDominate.com.
Forward-Looking Statement Disclaimer
This press release may contain forward-looking statements that are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements of future goals and similar statements reflecting other than historical facts constitute forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, which are described in Edentify’s filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. Edentify undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Press Contact:
Mike Lizun
Gregory FCA
610) 642-8253
Email: Mike@GregoryFCA.com
Corporate Contact:
Terrence DeFranco
Edentify, Inc.
(610) 814-6830
Email: TmDefranco@Edentify.us