Experian, the global information services company, launched the ‘Hunter Fraud Score’, a new scoring mechanism that measures the probability of fraud in a credit application across banking and insurance industries.
- The new score will help retail finance providers and insurance companies in India significantly increase their efficiency in fraud detection.
- Businesses will be able to identify applications that should be screened for potential fraud, and prioritise those that have a high probability of being fraudulent.
- This will enable them to potentially lower their fraud losses and focus on approving applications from genuine customers.
- Hunter prevents application fraud by matching credit application data against multiple data sources, including the shared fraud data. It comprises several rules that work towards identifying inconsistencies in credit applications.
- The suspicious applications are moved into the investigation tool for further analysis and action.
No comments:
Post a Comment