Purpose: application fraud detection and prevention.

Banks need Scorto™ Fraud Barrier to:

  • Identify fraudsters as early as possible
  • „„Automatically check against internal and external black lists
  • „„Reduce operational costs by automation
  • „„Detect sophisticated fraudsters with advanced analytics
  • „„Constantly improve your fraud detection methods
  • „„Reduce serious fraud losses and write-offs generated by fraudulent applicants to minimum
  • „„Bad debts as well as collection and recovery costs can be reduced by avoiding overrated risk segment assignment for unfair applicants who put false information in application
  • „„Fraud identification should not compromise customer service and speed of decision making

Concept and Key tasks:

  • Setting and adjusting custom fraud-detection rules and policies
  • „„Easy integration of any data sources for data verification and checks (black lists, credit bureau info, etc.)
  • „„Developing custom fraud detection scenarios based on the rules
  • „„Investigating suspicious cases, analyzing application assessment results and making decisions
  • „„Eliminating fraud through predictive modeling and scoring
  • „Automation of fraud detection and investigation workflows and decision flows

Value Proposition

  • Easy to manage user interfaces for minimal resource requirements and operational expenses
  • „„Incredibly intuitive and easy to use
  • „„Proven to eliminate fraudulent activity (and ultimately bad debts)
  • „„No limit in terms of number of users, or number decision/ work flows
  • „„Use of various technologies (such as AI) enable the tool to be self learning
  • Automatically assigns cases for investigation and assigns score based on likelihood of Fraud

Examples of Industries and Applications:

  • „„Banking and Finance:
    • „„Elimination of Application Fraud
    • „„Targeting of Identity Theft
    • „„Identifying Internal Fraud
  • „„Insurance:
    • „„Identifying of application fraud
    • „„Identification of claims fraud
    • „„Tracking of legal actions and assignment to debt recovery
  • „„Public Sector
    • „„Identification of potential law-breaking activities (violation of corruption laws, etc.)

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