Intelligent Issue 05 | Page 65

EXPERT FORECAST : BANKING AND FINANCE interactions using Experian Fraud Score which deploys a risk probability from 1 to 1,000 . This simple scoring system at once conveys the riskiness of a transaction , helping businesses to make informed decisions and avoid less trustworthy options .
Users submit basic application information such as name , address and date of birth , then receive a fraud score , with lower scores signifying a lower business risk . The technology developed by Experian uses the latest Machine Learning capabilities and insights from billions of credit applications and application data points , alongside confirmed fraud application data .
Act now
Businesses like yours aren ’ t powerless : there are steps that can be taken to futureproof your business , stop fraud and protect profits . Investing in identity verification technology will bolster your business ’ s fraud defences , boost customer confidence and support compliance measures .
While taking the time to learn about fraud risk before entering agreements with customers could also save further pain down the line . In 2023 make fraud protection a part of your business plan and achieve peace of mind that you ’ re protecting your customers and your reputation . �
Bolstering fraud defences helps to boost customer confidence , while also ensuring that passive and invisible checks don ’ t inconvenience genuine customers . www . intelligentfin . tech