NewDay Increases Fraudulent Application Detection
Leveraging LexisNexis® ThreatMetrix® digital identity intelligence, NewDay can reliably detect fraudsters attempting to apply for new credit cards using stolen identity credentials that compromise good customers’ established credit.
NewDay can also differentiate good customers from fraudsters in near real time, reducing friction for customers utilizing their instant spend service.
With LexisNexis® ThreatMetrix®, NewDay was able to:
- Access global shared intelligence to identify fraud by geolocation in the UK.
- Offer instant credit cards online that are available to use immediately for store purchases.
- Customize policies and models to reliably profile attackers and take immediate action.
- Leverage the ThreatMetrix Portal to identify suspicious patterns by examining links and associations, and investigating related events.
- Reduce number of fraudulent applications and time spent reviewing them.
- Reduce friction for trusted users.
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