ARIC™ for Application Fraud Prevention

Fight application fraud more effectively and earlier in the process.

Early-detection analytics is key to identifying banking application fraud.

Balance optimal customer experience, sophisticated third-party data usage and targeted fraud strategies in real-time, to detect fraudulent applications early and accurately, using the power of Featurespace’s invention, award-winning, Adaptive Behavioral Analytics.

Next generation fraud detection and mitigation

As fraudsters use increasingly sophisticated methods to imitate genuine customer behavior and evade traditional fraud detection, Featurespace’s ARIC platform offers a fresh approach to protecting your customers.

ARIC Risk Hub enables significant analytical modelling capability to monitor application data from all angles, empowering risk teams to analyze multiple events simultaneously, at each step of the application process.

Target all tactics used to commit Application Fraud

Fraudsters are rapidly evolving their tactics to imitate genuine customer behavior and evade detection. Featurespace’s Adaptive Behavioral Analytics enables financial services providers to use real-time machine learning to block and detect fraud.

This enables it to distinguish genuine applicants from fraudsters who are executing first party or synthetic fraud attacks and bring existing data sources into an overarching risk hub.

Because Featurespace’s ARIC platform models customer behavior rather than looking for known bad behavior, it is able to detect and prevent even new types of fraud attacks, protecting against all card fraud typologies, including (but not limited to):

  • First Party Fraud
  • False Identity/Synthetic ID Fraud
  • Credit Bust-outs
  • Mule Accounts
  • Internal/Staff Collusion
  • Impersonation Fraud

ARIC Risk Hub for Application Fraud Prevention

Works without training data

Featurespace’s ARIC Risk Hub models customer behavior in real time, without the need for prior information on the customer. This allows us to detect new and unknown fraud attacks.

Prevents complex fraud attacks

ARIC can detect anomalies in customer behavior which may suggest a complex fraud attack by uncovering suspicious characteristics, even before the point of application.

Detect fraud rings with Link Analysis

With Link Analysis, ARIC’s model captures subtle differences in customer behavior which might suggest an individual account is part of a wider fraud ring, enabling it to detect links between suspicious accounts.

Review applications in context

ARIC continues to assess customer activity following the initial application - if a medium risk application is followed by higher risk transactional activity the overall riskiness of that customer is updated.

Only the adaptive survive

  • Understand behavioral data across all channels:
    From how a customer fills in a form, to what is being seen from previous applications.
  • Reduce on-boarding costs:
    Identify and block fraudulent applications and efficiently accept genuine applications.
  • Accurately spot impersonation fraud:
    Detect fraudulent profiles, even when a criminal has a customer’s full file of identity details.
  • Use device fingerprint to spot repeat applications:
    Identify multiple applications from the same device.
  • Catch fraudulent applications before transactional fraud occurs:
    To reduce the cost of managing fraud downstream from application.
  • Zero degradation:
    World leading fraud models with automatic self-learning technology.

A multi-layered control framework for Application Fraud Prevention

Holistically risk score across all customer activity

Profile activity from the start of an application and get an accurate risk score for each individual before on-boarding.

Risk scoring behavioral activity through-out the application process minimizes friction and improves security.

Clear oversight and easy reporting

Review flagged applications via the ARIC dashboard and run deep investigations using our powerful incident management suite.

View reports of application fraud incidents within the intuitive UI.

More Control

Configure rules, models and risk thresholds to accept, reject or review applications within the Application Fraud Prevention dashboard.

ARIC White Label

Did you know, ARIC Risk Hub for Application Fraud is also available as a White Label product?

Provide real-time fraud protection with the very best machine learning to your clients, opening new revenue streams for your business.

Learn more about ARIC White Label

“The ARIC Platform spots fraud better and quicker. This system is clever enough to learn the behavior of individuals and compare it  with similar data, which results in far fewer false positives. It makes us much more effective in what we do.”

Credit Reference Agency

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