Authenticaid®
As a cornerstone of our service delivery to government agencies, FMS offers the patented AuthenticAID® solution–a sophisticated data matching solution engineered and proven to deliver increased collections. AuthenticAID® helps Federal and State agencies by gathering, assessing, and managing public data to resolve identity validation issues. Our proven suite of products, including TOPAID® and payAID®, provides public agencies with a range of opportunities in the areas of revenue maximization and cost avoidance.
Improper payments, fraud, and identity theft are here to stay…
Electronic commerce has introduced an age of fraud without borders. Improper payments occur due to identity theft and abuse, inadvertent errors, and poor data quality. The mission of Government–to serve its citizens–is seriously impacted when payments are erroneously made or delinquent loans and taxes go uncollected.
A scalable, customizable solution is needed…
FMS assists government agencies by gathering, assessing, and managing data to resolve identity validation issues. The AuthenticAID® suite of products:
- Reduces improper payments;
- Cleanses data on program participants; and
- Increases collections through Federal and State offset programs.
TOPAID™
Enhance Recovery through the Treasury Offset Program (TOP)
AuthenticAID’s TOPAID™ service supports State and Federal agencies’ efforts to collect outstanding debts through the TOP. FMS helps secure additional collections using our patented approach.
In the last six months, FMS generated an additional $16 million which would have gone uncollected without the TOPAID™ service. In 2009, FMS estimates total collections to exceed $35 million for our existing clients.
Data Cleansing
Improve the Reliability of Your Data
In our data rich world, public agencies at all levels struggle to maintain the accuracy of their citizen databases. AuthenticAID® discovered that the name of the consumer did not match the SSN in 28 percent of records for one client’s portfolio of receivables. FMS resolved the problem, allowing our client to enter $500 million into their collection stream where previously these debts went uncollected due to incorrect data.
payAID™
Reduce Improper and Erroneous Payments
AuthenticAID® reduces the incidence of improper and erroneous payments. Our payAID™ product pre-screens payments before they are made to the wrong person. PayAID™ identifies incorrect SSN/TIN along with names, address quality, fraudulent activities, and other factors. FMS is also able to use our operations infrastructure to verify accuracy through calls, email, and mail.
We have proven that government agencies can save greater than six percent on payments issued in benefits, loan, and state tax refund programs.
Since 1993, FMS has provided operations, consulting, and data management services to financial service agencies at both the State and Federal levels. Our focus is to provide simple, clear solutions using publicly available information to establish sound payment protocols and promote the data integrity necessary to best serve citizens.
Click here if you are a government agency and would like to receive additional information about AuthenticAID®.