Fraud Investigators’ Due Diligence Becomes a Simple, Powerful Data Attribute

For financial institutions, fraud investigators are a powerful force in the fight against identity fraud. Although today’s sophisticated fraud solutions detect when new-account openings or profile changes are risky or suspicious, it is ultimately up to fraud investigators to confirm the legitimacy of the information in question.

Investigators draw on experience and expertise to conduct their due diligence, which may include requesting proof documents, conducting interviews, and searching databases. All this effort culminates in a resolution: Either the case is “fraud,” or it is “not fraud.”

Investigation results are binary and predictive

Because completed investigations can be marked in one of two ways, (fraud or not fraud), it is possible to convert investigation results into a simple, binary variable (1 or 0). Kevari is uniquely positioned to make this conversion. Our Fraud Intelligence Platform already has a built-in feedback loop that allows us to see and capture how investigations are resolved.

Each 1 or 0 packs an incredible predictive punch. We know from research and analysis that when fed into our platform and real-time scoring algorithms, the data significantly enhance fraud detection and reduce false positive results.

One major bank in our analysis would have prevented $600,000 in fraud losses over the course of just one month.

The addition of this single, powerful data attribute brings added authority to every inquiry result. Now, investigators will know that fraud-risk scores, messages, and alerts include available investigation insight from other institutions in the network. When investigators see that a mailing address, email address, or phone number was previously marked as fraud, they know just where to prioritize and focus their investigations, improving efficiency.

The same bank that would have prevented $600,00 in fraud losses would have done so while also reducing investigative time by 25 percent.

A benefit to all financial institutions

Kevari is codifying the investigative community’s due diligence to produce benefit for each individual institution as well as the industry at large. Peers and colleagues share the heavy lifting; the outcome is that the whole is greater than the sum of its parts. The thousands of institutions that access our fraud intelligence platform, directly or through our partners, know how well this philosophy works. For years they have leveraged our nationwide velocity network.

We’re calling this new data revolution the Fraud Investigation Network(SM). It represents the most important innovation yet for enabling fraud investigators across the nation to join forces quickly and easily in the fight against new-account fraud and account takeover. Let’s make sure your institution is part of this battle! Please contact me for more details.


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