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Sophisticated identity thieves and organized fraud rings increasingly find new ways to take over existing customer accounts as well as open fraudulent new ones. Companies that are not well protected from account takeover and new-account fraud are at a high risk of losing money, customers, and their trustworthy reputation.

Kevari specializes in preventing and detecting account takeover and new-account fraud – effectively, efficiently, and in real time. It does so by seeking out anomalies and out-of-pattern behaviors that exist between identity data and non-monetary (aka, non-financial) data and events. Non-monetary data includes, but is not limited to:

• Emails/email changes
• Phone numbers/phone number changes
• Addresses/address changes
• Password requests/password changes
• Card requests
• Requests or access to a service/app

These days, scrutinizing non-monetary data and events is critical to identifying emerging fraud rings and schemes, especially those related to third-party fraud and synthetic identity fraud. It is important to detect and examine the repeated submission of identity attributes across participating institutions nationwide, as well as visualize the varying combinations of those attributes. 

Because Kevari can deliver this level of scrutiny through its numerous identity-related networks, thousands of banks and credit unions, financial services companies, and other businesses rely on Kevari’s solutions to mitigate the destructive effects of account takeover and new-account fraud.

Fostering Industry Collaboration

As ID Insight from 2003 to 2022, and continuing on today as Kevari, the company has maintained a leadership position by collaborating with clients, partners, and even competitors to develop solutions that stay a step ahead of emerging fraud schemes. Fraud solutions are available through direct integration with Kevari and under the product names Safe2Change for account takeover detection and Safe2Open for new-account fraud prevention.

Additionally, Kevari has contracts to provide white-labeled solutions to two of the nation’s largest fintech companies:

FIS Global (NYSE: FIS): FraudChex NAF and FraudChex ATO
Fiserv (NASDAQ: FISV): NotifiDetect

Through these relationships, hundreds of banks and credit unions have individual contracts to receive solutions provided by Kevari.

Additionally, on the heels of FinCEN encouraging banks and credit unions to share information about financial crimes, Kevari formalized a first-of-its-kind Fraud Investigation Network in 2021. The Fraud Investigation Network allows financial institution fraud investigators nationwide to benefit from the investigative efforts and insights of their industry peers — easily and automatically — as they fight together to stop account takeover and new-account fraud. Thanks to the network, companies can receive real-time alerts and messages when a network member has found suspected fraud related to the address, email, or phone number presented at their institution.

Delivering a Competitive Advantage

Kevari delivers its account takeover and new-account fraud solutions from a single, comprehensive Fraud Intelligence Platform. The platform includes a comprehensive set of assets that are unique in the fraud-detection industry. This gives Kevari customers a measurable competitive advantage. Financial services companies trust Kevari to help them:

• Reduce fraud losses
• Protect customer relationships
• Prevent reputational damage

Join Kevari on the front lines in the fight against account takeover and new-account fraud. Contact us today.