*By Rafael D'Agostino Garcia
Fraud prevention is an increasingly important topic within organizations, as is the concern to maintain security in corporate environments. With this, the development of strategies for this front are increasingly evident.
Usually companies use an identity verification solution as the gateway to a funnel, which is essential for all processes. It is important to guarantee the veracity of the information that has been placed on an app or website and cross-reference this with a database known to the market.
Providers of fraud prevention solutions need to adapt technologies and analytics to be able to respond to all of this in real time. It is necessary to have the option to return with information about what was not validated and make the company not only consume the prevention recommendation, but also enrich this data so that it can better calibrate the business strategy.
Prevention solutions need to reflect the main pains of customers with the exponential growth of fraud. Basic identity verification questions should be asked, such as “Is the information trustworthy?”, “Is the customer trustworthy or is this a risk profile?”, “If the user is trustworthy, does the profile indicate that he or she is who claims to be or is a fraudster?”.
It is essential that organizations are partners with their customers and build loyalty in this relationship so that they feel confident in the company's business. The first step in this is to ensure the identity and reliability of the information that has been passed on to them.
Companies need to keep in mind that when we talk about fraud prevention, it's not just about addressing issues related to threats, but also thinking about reducing false positives and gaining operational efficiency.
An effective identity verification process provides necessary support for better decision making. For example, it is useless for the institution to have several prevention tools and not obtain any recommendation about a probable threat. It is possible to count on a solution that combines technology, data, analytical intelligence and advanced modeling techniques so that, in this way, it is possible to enter the game to reduce once and for all the rate of false positives.
There are several challenges that need to be tackled and one of them is identity verification. There are solutions on the market that are focused on mitigating risks considering a series of essential features and resources for the fraud prevention process, which are suitable for all types of companies and bring together important pillars to combat fraud in the fraud prevention process. onboarding.
There are still many complex points on the subject, so anti-fraud tools need to evolve at the same speed that fraudsters improve. There is no magic formula to stop fraud, but there is a layered approach that allows you to have a managerial view of the key indicators needed to better calibrate and control your strategy.
*Rafael D'Agostino Garcia is executive manager of Fraud Prevention at Serasa Experian
Notice: The opinion presented in this article is the responsibility of its author and not of ABES - Brazilian Association of Software Companies
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