TruValidate alert on a credit report
TruValidate alert uses credit data, public data, and device data to ensure a 50% increase in fraud capture and a 22% decrease in manual reviews for businesses. Businesses enjoy the following benefits:
- Greater confidence for businesses as they receive alerts of risky identity data as soon as the application is submitted for better decisions.
- Minimized losses for businesses as fraud catch rate increases and, at the same time, losses reduce from payment defaults, chargebacks, and back office expenses.
- Increase operational ROI that results as businesses increase fraud capture and reduce manual reviews.
TruValidate fraud alert gives notification alerts to businesses about high-risk identities. High-risk identities are identified using real-time ID behavioral algorithms. Real-time ID behavioral algorithms pinpoint identity risk at originations onboarding and through the TruValidate features are:
- Detects fraud alerts like
- Invalid or unverifiable Social Security Number (SSN)
- Application velocity
- Identity behavioral anomalies
- Synthetic fraud
- Relational anomalies
- Unverifiable identities
- Alerts of suspicious transactions, data anomalies from customer application, onboarding, and account management
- Supervises global data sets that are built on credit, public, and device data with care
- Limits businesses’ fraud exposure by pinpointing high-risk and potentially fraudulent consumer identity data while remaining compliant with Know-Your-Customer (KYC) and Red Flag Rule regulations.