Kaunas, Lithuania – 02-04-2022 (PR Distribution™) –
iDenfy’s newest fraud scoring tool empowers financial institutions to conduct customer risk scoring while monitoring financial transactions
iDenfy, an identity verification provider from Lithuania announced the launch of their newest feature which be helpful for financial transaction fraud detection and monitoring.
iDenfys’ company is meeting the challenge of mitigating fraudulent transactions by rolling out a new tool designed to score customer risk. iDenfy, an identity verification company that develops software to accurately verify end users using artificial intelligence, has released a customer risk scoring tool financial institutions can use for fraud detection and monitoring. The tool has the power to scan databases, including the black market, and to provide a risk score for any potential customer as a way to detect fraud patterns and help stop unwanted transactions.
With this iDenfy’s fraud scoring solution, anytime a user accesses a company’s systems, the software makes several checks before allowing them to complete a financial transaction. For example, the tool can verify whether the customer’s name or address was recently used for criminal activity and whether the phone number, device, and/or IP address attached to the account bear certain red flags associated with fraudulent behavior. In addition, vendors are assessed for the type of email address created and the security features the provider has the timestamp and the type of address.
iDenfy also offers additional services to ensure that a bank and card are valid, including payment card and bank risk evaluation. They also monitor for recently sold stolen card details on the black market.
“Financial transactions between financial institutions, merchants and customers are a complex process involving various actions by different parties and the exchange of information,” said iDenfys CEO Domantas Ciulde. “This is where fraud can occur, so controlling and understanding this process can have a positive impact on unexpected financial losses and security. iDenfy’s newest tool will help financial institutions do just that.”
More information about iDenfy you can find here: https//:www.idenfy.com
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