ChoicePoint® Helps IKEA Save Millions

Furniture World News

Leading Furniture Retailer Uses SQL DirectSM To Expose Fraudulent Orders With the help of ChoicePoint (NYSE:CPS), the leading provider of credential verification and identification services, Sweden-based retailer IKEA avoided losing $5.2 million to fraud last year. IKEA uses ChoicePoint's SQL Direct service to protect its profit margins by identifying potentially fraudulent orders before they are processed. ChoicePoint's SQL Direct performs high-speed, automated searches of public records to validate orders for IKEA's U.S. division. "ChoicePoint worked with us to match IKEA's needs and made it easy to integrate the information with our system through our interface," said John Barry, CPP, IKEA's U.S. fraud manager. "Retail companies can't take the risk of fraudulent orders affecting their bottom line. With SQL Direct we are able to protect our company's assets as well as to protect consumers from identity fraud." SQL Direct is integrated with IKEA's E-Detective system, a telephone and catalog order processing system, that allows automated verification, through ChoicePoint, of the billing address and other information provided during an order. The system identifies orders with discrepancies, which are then investigated. During the last 12 months, IKEA identified 3,200 fraudulent orders and estimates that it saved 10 percent to the bottom line "With access to more than 14 billion public records, ChoicePoint provides the information necessary for our customers to make better decisions, reduce their risk and protect themselves and their customers from fraud," said Marty Fagan, vice president, ChoicePoint Public Records Group. "SQL Direct is an easy-to-use, high-speed service that gives IKEA and other retail companies access to valuable decision-making information." IKEA uses ChoicePoint to clear all orders in its e-commerce division and has determined that on average 3.3 percent of these orders are fraudulent. Through the automated process, 80 percent of IKEA's orders are cleared within 24 hours, fulfilling more than 101,000 orders per year. ChoicePoint product specialists work with clients to build customized SQL Direct interfaces that allows them to quickly search more than 14 billion local, regional and national public records. For more information about SQL Direct, contact Jeff Trynz, director of marketing, ChoicePoint Public Records Group, at 561-982-5433. About ChoicePoint: ChoicePoint is the leading provider of identification and credential verification services for making smarter decisions in today's fast-paced world. The Company serves the information needs of insurance, business, government and individual customers, including Fortune 1000 corporations, asset-based lenders and professional service providers, and federal, state and local governments. ChoicePoint is committed to the responsible use of information and the protection of personal privacy as fundamental planks o the Company's business model. For more information about ChoicePoint, visit the Company's Web site at www.choicepoint.net About IKEA: Since its founding in 1943, IKEA has offered a wide range of home furnishings and accessories of good design and function, at prices so low that the majority of the people can afford them. IKEA is recognized as a socially responsible company, and continuously supports initiatives that benefit causes such as children and the environment. Currently, IKEA has 163 stores in 30 countries, including 15 stores in the United States and seven stores in Canada. To visit the IKEA Web site, please go to http://www.ikea-usa.com. ChoicePoint is a registered trademark and SQL Direct is a service mark of ChoicePoint Asset Company.