A comprehensive account origination risk scoring service for financial institutions, ecommerce companies, and marketplaces. Protect against the most common fraud threats during new user registrations and application processes with a combination of identity verification and risk assessment for both genuine and synthetic identities.

Account origination risk scoring service of another person to take out a loan or credit card, or set up a fake online account with a retailer or bank to steal money, goods or services. This is often referred to as new account fraud (NAF) or online accounts fraud. Fraudsters will often gather information about a real person, create a fake identity from the gathered data and find a financial institute to sign up with.

New account fraud is costly for both the financial institute and the customer. The most common tactics used include account takeovers, dummy accounts, account opening and closing scams, and other malicious activity. These attacks are typically based on stolen or fabricated identity elements and can use a range of stolen personal information from databases such as names, addresses and Social Security numbers.

Implementing an Account Origination Risk Scoring Service

Using a real-time risk score at the time of application, along with a flexible fraud investigation storyboard, helps to identify and prioritize genuine applications while reducing false positives, thereby enabling your staff to deliver a great customer experience. It also allows for a more thorough understanding of the fraud risks at that point in time to improve ongoing fraud prevention strategies.