Top 3 Bank Books 6% More Applicants Annually
While Capturing More Fraud With Lower Operational Costs
Top 3 Bank Books 6% More Applicants Annually
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Financial institutions have been fighting fraud for a long time, and many have impressively low fraud rates. But the fraud landscape is constantly changing, and AI generated fraud poses a new challenge for businesses.
In particular, identifying fraudsters is different from recognizing good customers, and many fraud prevention processes create friction that drives away the customers that banks actually want.
In this Case Study, you’ll learn how Deduce Identity Insights allowed a Top 3 bank to:
- Keep fraud rates low, even in the face of new threats such as AI-generated fraud.
- Reduce onboarding costs by eliminating step-up checks for trusted customers.
- Reduce application abandonment rates (and follow-on LTV and CAC losses) by reducing friction for trusted customers.
See how Deduce Identity Insights helps banks overcome onboarding and fraud prevention challenges.
About Deduce
Deduce detects stolen and synthetic AI-driven identities that fool legacy identity-fraud security solutions and damage trust. Deduce unmasks these identities using patented technology and the largest purpose-built, activity-backed identity graph, which sees 185M+ identities more than three times every week, generating 1.5B+ authenticated online events per day across 150,000+ websites and apps. Deduce Identity Graph data drives real-time multicontextual digital forensics to protect new account opening workflows, expose “sleeper” stolen and synthetic identities that are already in customer databases, reduce friction and false positives in onboarding, reduce onboarding operational costs, and improve customer acquisition KPIs.
Deduce awards include Tech of the Future – Fighting Fraud at the 2024 Banking Tech Awards USA, the #1 Security spot in Fast Company’s World’s 50 Most Innovative Companies 2022, and the 2022 CISO Choice Award for Fraud Prevention. Learn more about the AI-driven identity fraud threat and Deduce’s solution at deduce.com.