Fraud scoring rank-order applicants according to the probability that an application may be fraudulent and thus alerts you of potentially fraudulent applications before you book an account.
Fraud scoring facilitates fraud detection and prevention helping you instantly decide which of the applications should be rejected or set aside for more in-depth evaluation due to high fraud probability. Used as addition to loan origination systems, fraud scoring helps lenders to increase their profits and enhance their customer service, by identifying potential fraud at the earliest point possible.
With Scorto fraud scoring solutions lenders are empowered to:
- reduce fraud losses;
- achieve faster fraud detection and loan approval process;
- subject fewer good customers to the verification process and thus save customer loyalty;
- accept a greater proportion of valid applicants;
- decrease fraud detection and Prevention costs and time;
- improve consumer satisfaction.