Prevent Stolen & Synthetic Identity Fraud—Reduce Manual Review & User Friction
The New Account Challenge: Prevent Fraud, Reduce Costs and Friction
Prevent Stolen & Synthetic Identity Fraud—Reduce Manual Review & User Friction
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Synthetic and stolen identity fraud are big problems for banks, fintechs, and other regulated businesses, costing banks $20B in 2020 alone, per the ABA Banking Journal.
Companies spend billions more every year on identity access management and other fraud prevention solutions, but fraud and friction remain expensive, frustrating problems. It doesn’t have to be this way.
Deduce continuously correlates and analyzes digital and physical activity for more than 660M U.S. digital identities to close the gaps in legacy fraud prevention stacks. Deduce sees 89% of new customers before they reach a site or app—43% within hours.
In this Solution Brief, you’ll learn how Deduce customers are getting these results:
- Up to 350% less identity fraud
- 200% fewer step-up and manual review calls
- 10% more order approvals
See how the award-winning Deduce Identity Insights solution helps regulated businesses streamline their new account creation experience, prevent more fraud, and avoid more false declines.
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.