Monday, June 17, 2024

Veriff Launches RiskScore To Calculate Fraud Risk During IDV Sessions

Veriff, a global identity verification (IDV) provider, today announced at Money 20/20 USA a new RiskScore feature that will enable organizations to evaluate the risk of fraud associated with each identity verification session and, as a result, easily detect fraud patterns and make more informed decisions.

Veriff’s RiskScore delivers an actionable numerical value on a scale of 0 to 100 representing the overall risk associated with an IDV session. During the IDV process, Veriff analyzes the user’s document, face biometrics, device, and network along with previous fraud patterns to deliver industry-leading fraud assessment and protection. Derived from various signals generated throughout the end user’s IDV session, RiskScore, along with additional risk intelligence, can then be ingested into an organization’s own risk management system for further investigation and decision-making.

“Organizations are faced with an evolving landscape of fraud risks that threaten their business, communities, compliance efforts, and brand reputation. They cannot afford to let their fraud prevention solutions grow stale, and must regularly assess and update them to stay a step ahead of the fraudsters,” said David Divitt Senior Director, Fraud Prevention & Experience at Veriff. “Veriff’s new RiskScore feature enables organizations to seamlessly integrate the scoring system into their strategies and empowers them to make faster decisions and easily detect new, less-defined threats.”

RiskScore is part of Veriff’s new Fraud Intelligence offering that provides organizations powerful tools and expertise to mitigate fraud attempts and verify more genuine users efficiently.

For more information on Veriff’s identity verification solution or to see a demo, visit Veriff at Money 20/20 USA at stand 4214.

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