Apara´s Technology helps reduce the financial losses due an increased of application credit detection
The financial institution has collaborated with Apara to reduced by 20% the fraud in the credit application when automatically identify and precisely those applicants who are most likely to commit fraud.
Madrid, on April 27, 2011.
Apara predictive platform, dVelox Enterprise, has improved by 20% fraud detection in credits concession of a Spanish bank credit consumer. In an environment with increasingly sophisticated mechanism to commit fraud in credit application and the rise of bad debts, the financial company needed reducing their economic losses of write-offs and bad debtors.Given the static of the tools available to the finantial entity to detect suspicious actions, they decided to have a predictive tool to anticipate fraud and reduce losses that in recent years had been severely affected by this problem.
The objective of Apara is to address the full cycle of customer management, with special attention to credit risk and application fraud prevention to increase detection of suspicious claims of fraud.
Six months after implementing the dVelox Enterprise, the entity had an average of 2.4% of fraud prevented, resulting in an increase of 20% detected fraud compared to the techniques used previously. These data imply an increased savings for the company of nearly one and half million Euros.
As José Manuel del Río says, General Director of Apara, “dVelox Enterprise is able to identify common patterns and characteristics of applicants who pose the greatest likelihood of committing fraud and is done automatically and accurately, which implies a significant reduction of economic losses, as well as detecting new fraud scheme not identified before in almost real time. "
APARA
Apara is a company of 100% Spanish capital, founded in 2002 as a spin off of Quality and Technology Group. Apara developed pioneering technology in the intelligent automation for decision-making processes in order to transform data into accurate decisions. The company's products are applied to complex problems such as fraud prevention, customer retention and marketing campaigns from the perspective of the intelligent decision automation.
More Information:
http://www.aparasw.com
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