Case Study – The client is An innovative American financial technology company that pioneered the point of sale finance industry by providing a quick, transparent, and more inclusive lending alternative to consumers. Fraudsters were using synthetic identities to mass register fraudulent new accounts and then requesting loans that were never paid back. Solving the well-known industry trade-off between customer experience and fraud prevention. High rates of account takeovers and  promotion/benefit abuse indicated that the client had outgrown its insourced fraud model.

Solutions

• Processed vast amounts of proprietary data with Feature Platform and enriched it with insights from 4.5B third-party accounts and 1T events.
• Leveraged the Rules Engine tool to create and manage commands with heightened efficiency and accuracy.
• Gained a 360° view of fraud data and its connections using DataVisor’s Knowledge Graph.
• Leveraged the Case Management toolset to take fast, efficient, and informed decisions in real-time.

Results

• 41% reduction in hurt ratio, a measure of false positives.
• 320+ fraud rings detected, some of them related to over $80k in losses per attack.
• 5x estimated review efficiency improvement.