Conduent Introduces VeriSight Identity Validation and Bank Account Owner Verification Solutions to Combat Fraud and Strengthen Government Aid Programs
December 01 2022 - 8:45AM
Conduent Incorporated (Nasdaq: CNDT), a global technology-led
business process solutions company, today introduced its VeriSight
solutions to help federal and state government agencies combat
benefits fraud and strengthen public aid programs nationwide.
The VeriSight solutions – an expansion of Conduent’s current
capabilities in government payments – provide robust identity
verification and validate bank account ownership before
transactions are completed and benefits are disbursed. VeriSight
analysis tools also can assist state and federal agencies in
identifying fraud ring activity to aid in investigating and
prosecuting perpetrators and reclaiming stolen funds.
Public programs that can benefit from Conduent’s VeriSight
solutions include:
- Unemployment Insurance (UI)
- Temporary Assistance for Needy Families (TANF)
- Supplemental Nutrition Assistance Program (SNAP) / Electronic
Benefits Transfer (EBT)
- Women, Infants and Children (WIC) EBT
- State Supplemental Insurance
- Child Support
- Department of Revenue programs
- Other constituent benefit programs
Unemployment fraud alone is a multi-billion-dollar challenge
nationwide, as was the case during the COVID-19 pandemic. A report
from the U.S. Department of Labor’s Office of Inspector General
found that at least $163 billion in pandemic unemployment benefits
may have been paid improperly, with a significant portion
attributable to fraud.
Conduent’s VeriSight solutions are designed to be configurable,
providing a range of services to meet agency needs, from
investigations to ongoing fraud prevention. They can also help
states quickly resolve claims of identity theft. The suite includes
the following:
- Identity Verification: These solutions verify
applicant identities, helping to catch fraud attempts before funds
are disbursed. Fact-based authentication at the enrollment and
eligibility stage can detect perpetrators using false or stolen
identity information.
- Payment and Disbursement Account Validation:
Building on Conduent’s proven experience in transferring and
depositing billions of dollars on behalf of clients, this solution
verifies that funds and transfers reach their rightful recipients
and bank accounts, with automated tools to prevent fraudulent
transfers.
“The massive rise in government benefits enrollments during the
pandemic strained many states’ abilities to mitigate the
corresponding rise in application fraud,” said Mark King,
President, Government Solutions at Conduent. “Working in
partnership with our clients to deliver these critical benefits, we
provide more effective solutions that can help state agencies and
law enforcement officials combat fraud and strengthen a range of
aid programs.”
Conduent manages more than 100 payment card programs on behalf
of dozens of state and federal agencies. In 2021, it disbursed a
total of $125 billion in payments to support government
programs.
About ConduentConduent delivers
mission-critical services and solutions on behalf of businesses and
governments – creating exceptional outcomes for its clients and the
millions of people who count on them. Through our dedicated people,
processes, and technologies, Conduent solutions and services
enhance customer experience, increase efficiencies, reduce costs,
and improve performance for most Fortune 100 companies and more
than 500 government entities. Whether it’s touching three out of
every four health insured lives and delivering 45% of SNAP payments
in the U.S. or enabling 1.3 billion customer service interactions
and empowering 10 million employees through HR services worldwide,
Conduent services and solutions interact with millions of people
every day and move our clients’ operations forward. Learn more at
https://www.conduent.com.
Media Contact:Sean Collins, Conduent,
+1-310-497-9205, sean.collins2@conduent.com Neil Franz, Conduent,
+1-240-687-0127, neil.franz@conduent.com
Investor Relations Contact:Giles Goodburn,
Conduent, +1-203-216-3546, ir@conduent.com
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TrademarksConduent is a trademark of Conduent
Incorporated in the United States and/or other countries. Other
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