The highly competitive and high risk financial environments demands for all companies greater accuracy in risk control. For this reason, it is necessary that financial institutions bet on new strategies with scorings more restrictive and major control over the verification and implementation of new channels to control credit risk and prevent application fraud. In this way, reduce the high costs faced by entities for late payments.
The following Business Case is developed in a Spanish financial institution and aims:
- Identify applicants group who offer higher risk of non-payment.
- Identify those who are most likely to aplication fraud
- Substantially reduce economic losses.
After six months of implementing dVelox Enterprise, the entity had an average of 2.4% prevented fraud, translated in an increase by 20% detected fraud comparahed to the techniques used previously. These data imply an increased savings for the company of nearly one and half million Euros.
Contribution of dVelox Enterprise to the entity:
- Fraud Detection that had not been identified to date in real time.
- Reduction of economic losses due to fraud.
- Complete cycle automation when making decisions.
- Ability to explain the causes of determinate fraud.
- Identify patterns and common applicants characteristics who pose the greatest likelihood of committing fraud.
- Automatic adaptation to market changing behavior.
Download others Apara Business Case:
ROI optimization in the acquisition of Telefónica terminals
