Application fraud

Gfi EAST > Sectors > Finance > Application fraud

Predicting future events

A major problem in the banking sector is the extortion attempts that affect credit service providers. In order to detect this phenomenon effectively, it needs to take place very quickly, in the time between the submission of the application and the signing of the credit agreement.

The insurance sector is increasingly affected, so it is essential to have a tool to classify customers in terms of risk and quickly identify fraud attempts on credit products or financial transactions by both customers and employees of the company.

Functionalities

  • Online consolidation and verification of information on the applicant and credit application parameters
  • Automatic decision making based on defined rule sets
  • Manual decision support in cases where the result of automatic verification is not unambiguous
  • Common mechanism for verifying requests submitted through different channels
  • Possibility of inclusion in the process at any stage of the life of the credit application
  • Possibility of defining and testing your own rules and strategiesComplete history of decision making process for audit purposes and handling possible complaints
  • Possibility to mark information from a rejected credit application as compromised
  • Supports blacklists and white lists (e.g. account numbers, IP addresses, email, addresses, identity documents, payment card numbers)

Process support

  • Granting of credits and loans
  • Assessment of the credibility of applicants
  • Complaint processes
  • Detection of cases of fraud
  • Audit processes

ASK AN EXPERT

Wolfgang Veith

My focus at IMPAQ is to provide compliance solutions for financial institutions and corporations. I analyze the needs of the customers and offer tailor-made solutions, through the kdprevent Platform. Furthermore, I can point out the strategy for a long-term orientation of a professional compliance organization.