Zoot Enterprises has announced that it has formalized an agreement with XOR Data Exchange to provide Zoot clients access to multi-industry data predictive of identity theft and fraud risk. With the rise in online fraud, clients rely on Zoot to identify new ways to support their business strategy and quickly react to new fraud trends.
The partnership will bring a wider variety of predictive data sets and analytics to institutions that rely on Zoot for their platform needs across a wide variety of industries including financial services, merchant services, telecom, insurance, and healthcare. By sharing data through XOR, businesses are reducing credit and fraud losses, while providing additional insight into fraud rings that may target several different industries and establishing the creditworthiness of businesses that may not be identified using traditional providers.
“We’re excited to be partnering with XOR to be able to provide our clients the ability to better understand if their customer’s identity has been compromised in any way. Additionally, the partnership enables us to provide enhanced insight into small businesses looking to gain access to credit products,” said Travis Tuss , Senior VP of Sales and Marketing at Zoot.
XOR Data Exchange was founded to bring security and accountability to data sharing. The Austin -based Data as a Service (DaaS) provider deploys permission-based, multi-industry data exchanges, built within ‘Privacy by Design’ principles, which solve fraud and credit weaknesses plaguing consumer and small business service providers. XOR’s Compromised Identity Exchange, launched in May 2016 , represents a major stride toward ending identity theft and fraud associated with data breaches. The platform allows financial service providers to accurately determine ID theft and fraud risk for individual consumers and accounts resulting from their involvement in one or more data breaches.
“Fraud risk is one of the most difficult customer attributes for service providers to measure and address,” explained Mike Cook , founder and CEO of XOR. “Zoot’s technologies are designed specifically to enable accurate, secure and effective decision making based on dozens of data points; and this partnership will allow Zoot clients to easily integrate valuable, predictive data from multiple industries into their workflows to more accurately address potential fraud, and ensure the security and privacy of customers.”
About XOR Data Exchange
XOR Data Exchange deploys permission-based data exchanges to solve fraud and credit risk weaknesses currently plaguing consumers and small businesses across industries, while helping companies retain ownership and control of their data. Through patented platforms and leading security standards, XOR helps reduce risks and costs for the nation’s largest credit issuers, and protect the personal information of consumers and businesses around the world. For more information, visit https://www.xor.exchange.