Fraud costs businesses and consumers a tremendous amount of money each
year. Addressing this growing problem is expensive and ongoing, because
those who commit fraud are always finding new ways to defeat detection
systems. The situation is compounded by the expanded number of channels
that are used to promote and accept account applications and
transactions.
If fraud is a concern for your organization,
ScorXPRESS® can increase the effectiveness of your detection and
prevention practices. It’s used by major financial institutions and
retailers to process hundred of thousands of requests each day.
Employing sophisticated analytics combined with business rules,
ScorXPRESS® is a highly tailored predictive model based system that
lets you instantly identify many types of fraud. ScorXPRESS® uses a
wide variety of data including application data, credit bureau
histories, and transaction histories to create custom fraud detection
algorithms. Your organization’s unique experiences are automatically
built into the resulting analytical intelligence. This approach
produces a distinct advantage over traditional verification practices
which use standard or generic models.
- Easily update your fraud system with the most current trends and patterns using customized analytics built specifically for your business
- Augment a model only based approach with additional business rules to combat localized problems such as hot-spot fraud, changing patterns, and exception processing
- Easily integrate real-time scoring models with application processing to provide superior fraud prevention coverage without disrupting with normal business procedures
- Stay current on fraud patterns by quickly and easily updating and
tailoring models for application, authorization, and transaction fraud
as often as needed
- Reduce fraud losses by increasing detection rates
- Increase revenue by accurately processing more good credit
applications in less time
- Lower operating and verification costs by reducing false
positives and unnecessary verification activities
- Improve credit application turnaround time
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