NeuroID

The expansion of online lending has not only proven vital to the growth of the digital marketplace, but it’s also contributed to the expansion of the economy overall. As a result, online lenders are targets for bad actors to swindle unsuspecting organizations out of money and disappear without a trace. Minor or sporadic fraud can be damaging, but a coordinated attack by a sophisticated fraud ring can devastate even the mightiest lending institutions. To secure growth and ensure longevity as an online lender, it’s crucial that your digital defense strategy includes robust, cutting-edge fraud detection tools. There’s never a bad time to reexamine your organization’s approach to fraud detection. Familiarize yourself with these three tools online lenders can use to catch fraudsters at the point of attack and stop fraud in its tracks. ID Verification Like so many online services, lending hinges on identity verification. Rapid, precise ID verification is absolutely vital to establishing ...

Imagine someone asks you, “What’s the cornerstone of your business?” Would your organization’s digital ID verification system be the first thing that comes to mind? Probably not. However, deft utilization of the online marketplace has become a critical component of business growth. As threats like fraud rings and bot attacks continue to multiply and become more sophisticated, you might be surprised at just how vital your ID verification system has become. In fact, it’s so crucial that you can’t afford to rely solely on post-submit data such as PII. Instead, tools based on behavioral intelligence are changing the ID verification game by emphasizing pre-submit data to enhance fraud detection. Here’s everything you need to know. Fraud-Based Threats Are Evolving Everyone would like to believe that after decades of cat-and-mouse games between security firms and bad actors, the internet has finally settled into a safe, uniform space. As you well know, that simply isn’t the case. Fraudster...