By Dave Sebastian

Visa Inc. said it has put out a digital tool that assesses risks in new account applications in U.S. financial institutions, with the hopes of mitigating account fraud.

The digital-payments company said Monday the Advanced Identity Score, the name for the tool, would generate a two-digit Fair Credit Reporting Act-compliant identity fraud score to help identify the frequency of applications within a period of time, fraud and suspicious activity and bankruptcy data, as well as data from government agencies, third parties, law enforcement and consumers. 



  Write to Dave Sebastian at dave.sebastian@wsj.com