Offer Premium Customer Experience While Reducing Fraud Risk
What fraud management challenges are you facing?
Which area of your fraud strategy do you want to focus on?
Do I have a comprehensive set of data available to verify an identity?
The data that fuels our identity verification solutions is built from one of the largest compilations of consumer and business identity intelligence. It offers coverage of 95% of the U.S. adult population, including people with limited or no credit histories.
Vetting customers at onboarding is critical to managing fraud risk. Get fast, reliable confirmation of individual, business, document and device identities with solutions that deliver:
- Smarter identity decisions through a seamless decision engine
- Concise identity insight to speed customer approval and inform decisions
- Real-time confirmation of identity to strengthen customer relationships and fight fraud
- Better fraud detection through phone number intelligence
- Identity insights, analytics and sophisticated scoring to combat evolving fraud
- Easy-to-understand data to evaluate the risk associated with an email address
Additional Resources:
How can I stay ahead of the growing threats of identity fraud?
Verifying a customer's identity is the number one fraud challenge organizations face1. Identity fraud is centered around a few main areas of concern:
- Increase use of the mobile channel
- Rise of synthetic identities and bot attacks
- Need to balance speed of fraud detection with customer friction
- Inadequate access to real-time, third-party data
- Limited ability to identify geolocation
Identity verification services need to help companies grow safely while managing the rising threat and cost of fraud. Organizations are challenged to to rapidly adapt to evolving customer behavior and interaction points or risk significant losses in both fraud and customers.
Stay ahead of identity fraud with fraud and identity strategies that focus on a multi-layered and risk-based identity and authentication solutions which can help differentiate a trusted customer from a fraudster, beginning with account origination to every visit and transaction that follows.
1. 2020 LexisNexis Risk Solutions True Cost of Fraud Study: Financial Services and Lending
How can I ensure the customer is who they say they are?
Our authentication solutions combine extensive identity intelligence, advanced analytics and intuitive technology to accelerate identity authentication across multiple transactional channels.
Because every individual and transaction is a unique case, you need an agile collection of authentication tools that allow your business to apply the right level of authentication based on the risk presented. Our solutions fortify your defenses against fraud while providing a seamless, friction-appropriate experience for trusted customers using all or some of the following methods:
- Authenticate customers with a one-time login code or push notification
- Apply real-time knowledge-based authentication to certify identity
- Use the sound, pattern and rhythm of an individual's voice to determine identity
- Validate identity documents across multiple transaction channels
- Assess the risk associated between an identity and a phone number or email address to strengthen multi-factor authentication efforts
Additional Resources:
How can I optimize customer experience and fraud controls?
Risk varies based on the customer and transaction. Therefore a one-size-fits-all approach to identification and authentication is inefficient and ineffective. You don’t want to force low-risk, easily-identified customers to undergo an onerous process. But at the same time, weak security measures may allow fraudsters access.
Our identity validation tools offer great flexibility. Your business can automatically personalize the level of authentication you want based on relevant risk signals and identity intelligence, all while minimizing friction for your valued customers.
Additional Resources:
- 2020 True Cost of FraudTM Study: Financial Services and Lending
- 2020 True Cost of FraudTM Study: E-commerce/Retail Edition
- Top 10 Anti-Fraud Tips E-book
- Maximize Protection and Conversion Using Risk-Based Workflows—With or Without 3D-Secure Enabled
- Reduce Online Friction for Customers and Accurately Detect Fraud—U.S. Retailer Case Study
- Global Bank Reduces Fraud Without Creating Friction for Customers
- How Identity and Authentication Will Help with Future Pandemics
Which area of your fraud strategy do you want to focus on?
How can I improve the quality of fraud risk detection?
Get a multi-faceted, 360-degree view of identity and application risk through our fraud analytics solutions. They combine robust, end-to-end identity insights with advanced decisioning analytics and authentication technologies unrivaled in the industry.
Our fraud tools collect and distill the relevant components of physical identity events, consumer application activity, confirmed fraud, digital identity intelligence, email network insights, behavioral biometrics and global consumer recognition. You get a holistic view of identity with the benefit of contributory, crowdsourced data from our networks consisting of:
- 2.5 billion U.S. consumer applications
- Over 100 million digital transactions per day
- Over 8 million confirmed fraud events
- Physical identity events covering 275 million U.S. identities
By layering our leading data science expertise with artificial intelligence (AI), machine learning and technology automation, you receive near real-time and on-demand identity analytics and risk-decisioning intelligence—critical information for acquiring new customers while preventing fraudsters from entering your customer ecosystem.
Additional Resources:
How do I minimize false positives?
Our fraud analytics tools predict, detect and prevent the main drivers of identity fraud. Our fraud detection analytics solutions correlate and consolidate the physical, digital, device, biometrics and behavioral attributes that encompass an identity. Flexible and customizable, you can use these tools to personalize the level of authentication for a customer based on relevant risk signals and intelligence.
Our tools detect inconsistencies and recognize fraud patterns in application profiles that other fraud tools miss while reducing false positives so you can make quick, well-informed decisions with confidence. Your valued customers experience minimal friction while you successfully defend your business from existing and emerging fraud types.
Additional Resources:
- 2020 True Cost of Fraud™ Study: Financial Services and Lending
- 2020 True Cost of Fraud™ Study: E-commerce/Retail Edition
- Broaden the Lens, Sharpen the Focus
- A New Approach to Fraud Risk Assessment
- A Unique, Tokenized Customer Identifier
- Reduce Online Friction and More Accurately Detect Fraud
- Bank Blocks Fraud While Customers Get Smooth Experience
How do I deliver a consistent customer experience across every channel of commerce?
You want your business to maximize valuable omni-commerce revenue streams. But to do so safely, you need a complete view of identity. Otherwise, you won’t be able to quickly differentiate between legitimate customers and fraud attempts.
Our fraud analytics tools incorporate and distill the relevant components of physical, digital, device, biometric and behavioral identity intelligence to deliver a multi-faceted 360-degree view of identity, making it possible to:
- Defend against fraud risk
- Accelerate approvals for trusted identities
- Eliminate unnecessary friction for customers
- Minimize false positives
- Focus resources on true high-risk fraud threats
- Avoid costly, time-consuming manual reviews
- Reduce customer abandonment and attrition
Based on our True Cost of Fraud Study, the optimal approach is layering fraud analytics with risk-based authentication. This type of workflow can help differentiate a trusted customer from a fraudster, beginning with account origination to every visit and transaction that follows—helping you answer:
- Who is the customer?
- Is the customer who they say they are?
- Is a transaction fraudulent or a false positive?
Additional Resources:
How can I improve my investigations process to mitigate fraud risk?
Many organizations are still mitigating risk the same way they had before the pandemic, using manual, physical identification methods. As alert volumes rise, adding more labor resources to tackle your compliance and fraud challenges may not be a sustainable strategy.
Through our automated tools, you can streamline your fraud investigations, customer service and due diligence activities, enabling you to meet increasing demands with existing resources. Our solutions are customizable and can be tailored to your organization’s unique requirements and workflow.
Our fraud investigation solutions are comprised of comprehensive current consumer and business information. Then, using artificial intelligence and machine learning analytics, they distill disparate data into actionable insights. Your business gets the information you need to make quick, well-informed decisions across day-to-day fraud and identity management workflows.
Additional Resources:
- 2020 True Cost of Fraud™ Study: Financial Services and Lending
- 2020 True Cost of Fraud™ Study: E-commerce/Retail Edition
How do I standardize fraud investigations while speeding up time to resolution?
Your investigations process has a direct impact on your revenue and your ability to build loyalty with your customers. Sixty-six percent of customers won’t return to a business if identified as a fraudster.1 You want to prevent fraud but not at the expense of the customer experience.
The pace of digital transformation continues to accelerate and has created a surge in volume to busy call centers. Our fraud prevention solutions help you automate and streamline fraud investigations. You can eliminate up to 80% of time spend on enhanced due diligence and manual reviews and improve workflow performance five times for increased ROI.
Make faster, more confident decisions. Reduce call handle, resolve false positives, speed approvals for good customers and stop fraudsters before they ever enter your ecosystem.
Additional Resources:
- 2020 True Cost of Fraud™ Study: Financial Services and Lending
- 2020 True Cost of Fraud™ Study: E-commerce/Retail Edition
1. Forbes, “What Customers Want & Expect”, 2018
How do I automate and customize fraud investigations to speed up resolution time?
Our fraud investigations tools support critical fraud and identity management workflows by automating your due diligence and manual reviews. Our solutions leverage artificial intelligence and machine learning analytics to deliver insights that help you speed up searches and ensure uninterrupted fraud investigations.
Optimize your fraud research and investigations with features that help:
- Transform your business through automation
- Streamline investigations
- Display results in clear, easy-to-understand reports
- Consolidate research into existing workflows
- Document and save research results for future review or audit
- Lower false positives to improve your consumer experience
- Reduce fraud
Additional Resources:
Make Confident Decisions at Every Stage of the Customer Lifecycle
Our formula enables powerful data transformation.
Our combination of data, linking technology, analytic capabilities and expertise transforms data into actionable customer insights for intelligent decision-making throughout the customer workflow.
Vast Data Resources
Accesses billions of public and proprietary records.
Big Data and Advanced Linking Technology
Analytics Insights
Industry Expertise
Leverages deep industry experience and expertise.