Mitigating Fraud and Account Takeover Risk
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Customers expect a one-click experience and phone numbers provide a key element in their journey. Starting at account opening and throughout the customer lifecycle, phone numbers provide a consistent risk indicator. Malicious actors use compromised phone numbers to hijack existing accounts or create new accounts. The challenge? Prevent fraud from faked, stolen, or invalid phone numbers while enabling a seamless user experience.
Phone RiskScore Answers Key Questions
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Delivering safety and countering fraud requires verifying phone numbers and assessing risk at touchpoints such as account opening, account maintenance, and online transactions. Socure Phone RiskScore moves beyond rules-based approaches by applying adaptive, automated machine learning and continuous feedback data to phone numbers, identifying “bad” phones while also providing a seamless user experience for legitimate, good customers.
Phone RiskScore Technology Highlights
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Passive Yet Highly Predictive
Preempt fraud by detecting evasive patterns
- Multiple phone data sources for maximum coverage
- 87+ phone-specific features, including number with dummy value, invalid area code, IP phone number, phone service types, porting, age, and more
- RiskScore returns a score between 0 to 1 indicating the riskiness of a provided phone number
- Correlation returns a value between 0 to 1 indicating phone ownership and the strength of the relationship between customer name and phone number
Flexible Deployment
Stand-alone or suite Deployment
- Socure ID+ Suite allows mix-and-match of a product portfolio that includes Sigma Identity Fraud, Sigma Synthetic Fraud, Digital Intelligence, as well as Email, Phone, and Address Risk Scores
- Device informs identity decisions within a holistic model
- Verify a 360 degree view of your customers’ identities
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Continuous Improvement
Feedback data from the industry’s leading consortium of clients
- Socure delivers better fraud models trained with consortium feedback data
- As the consortium grows, Socure gets smarter using feedback data from an expanding network of trusting firms to counter evolving identity fraud patterns