Fraud Risk Indicator





Fraud Risk Indicator




How does it work?
The Fraud Risk Indicator (FRI) is a solution offered in combination with the IBAN-Name Check/Verification of Payee: an add-on to the current API. Essentially, the add-on provides additional data points; risk indicators that will help the bank to determine whether there’s an increased risk or a decreased risk of fraud.
Fraud Detection & Monitoring
The FRI is meant for implementation at the Fraud Detection / Transaction Monitoring system, not in the front-end.
This helps to prevent fraud because additional fraud cases can be spotted upon payment initiation, thanks to risk increasers, like a “hit” in the PolitieNL database or the fact that an account is newly opened.
Lowers the number of false positives
The FRI helps to lower the number of false positives on the fraud analysts backlog, thanks to risk decreasers like the number of account holders.
FRI Modules
Account Context
- What kind of data source was used for IBAN-Name matching
- Account Age: was the bank account recently opened
- Account holder type: business or personal account
- Joint Account check: number of account holders
- Account Type: payment account, savings account, etc
Police Data Integration
- Receive alerts if more than three police reports have been filed against the beneficiary IBAN. This feature supports both domestic and international IBANs.
The number of false positives has decreased significantly; as a result, our fraud analysts are working on real fraud cases much more often
Other add-on features
for Banks & PSPs
SWIFT Beneficiary Account Verification
Read More →
European Batch Check
Read More →
PayID
With SurePay PayID customers can now easily and securely pay in your Banking App to friends and acquaintances on their contact list. In the future we will add more identification options to this service. SurePay PayID uses the smart Verification of Payee algorithm for this.
Read More →
Switch Check
Read More →
Ready to use the Fraud Risk Indicator?
Integrate the Fraud Risk Indicator in your API
Are you interested in implementing the Fraud Risk Indicator? You can schedule a meeting with Wendel Middendorp, Business Development Manager.