Fraud

fraud


Regulations, compliance and overall risk management place a significant operational burden on financial services. Account origination fraud—that is, opening a credit or bank account with fraudulent or falsified information—is an increasing problem these days. Banks lose billions each year to thieves who use stolen personal information to create new accounts and commit an act of deception.

 
Despite the myriad of safeguards in place, banks are more exposed to fraud than ever before, due in part to the growing number of channels customers use to access financial institutions, such as e-banking and mobile apps. In the fight against fraud, financial institutions need to have better tools and enterprise-wide integration to succeed against scammers.

 

When customers today visit online business, it is difficult to identify and verify customers cross-channel and cross-device. By integrating different silos of identity ecosystems and resolving multiple online and offline identifiers to individuals, MODELLICA Fraud Engine is a solution built on current best practices, that can provide a single view of the identity for customer acquisition, fraud, compliance and risk to enable organizations to build trust and safety in their digital transformation journey.

fraud