Digital Matrix Systems, Inc. announces partnership with XOR Data Exchange to diversify client data
Digital Matrix Systems, Inc. (DMS) today announced that it has formalized an agreement with Austin-based XOR Data Exchange to provide DMS clients access to new permission-based data exchange platforms for use in fraud and risk mitigation efforts.
By choosing to leverage alternative data sources in addition to traditional credit data, financial services and insurance companies can more effectively evaluate applicants. XOR enables companies to share data sets within and across industries while retaining control and ownership of their proprietary information. Participating companies are able to leverage data not previously available in order to more effectively address existing fraud and credit risk concerns without compromising competitive advantage or security standards.
Through this partnership, DMS clients can quickly integrate XOR’s data exchanges into their existing information systems for multiple purposes, including:
- Small Business Fraud and Credit Risk
XOR’s Small Business Risk Exchange helps service providers comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory requirements, and better evaluate small business applicants even with little or no business credit history. - Identity Theft Risk
XOR’s Compromised Identity Exchange allows companies that incur fraud losses as a result of data breaches to evaluate which of their customers carry the highest risk of identity theft in order to prevent fraud before it is perpetrated.
“Data is often the most valuable asset a company holds, and it is crucial to ensuring a quality customer experience in the digital economy,” stated Mike Cook, founder and CEO of XOR Data Exchange. “DMS is a valuable partner for XOR because the company and its clients understand the value of collaborative data sharing and support our commitment to leveraging data to formulate innovative solutions to unaddressed business challenges.”
“We are pleased to announce our strategic relationship with XOR Data Exchange,” said David Graves, DMS executive vice president. “XOR’s unique ability to proactively assess fraud risk across accounts enables clients to focus their resources during stressful business times. This ability to strengthen risk management efforts perfectly aligns with our commitment to excel at meeting the business needs of our clients.”
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.
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.
Media Contact:
Kim Eakin
Director of Marketing
972-341-0056
keakin@dms.net