Prevent Fraud at the Loan Application Stage

Overview:

A continuous threat that financial service providers grapple with is fraudulent applications. The most effective strategy is to prevent the fraud at the point of application. This requires the authentication of genuine customers and the detection of potentially fraudulent applications before the customer is accepted without adversely affecting customer service level and speed of decisioning.

Gone are the days of using conventional underwriting techniques to avoid fraud. Experian presents Hunter™, its premium fraud detection technology. Using proven detection rules, it screens and highlights potentially fraudulent applications, enabling organisations to identify fraudsters before they become customers.

Combining a rules-driven business engine with intuitive investigative tools, Hunter™ creates a continuous cycle of fraud prevention and detection. Designed to be highly configurable, the system can be used for all types of application, subscription and insurance fraud identification across multiple products and channels. 

What Hunter does best: 

Creates a Robust Fraud Detection Cycle: Hunter™ creates a continuous cycle of fraud prevention, detection, investigation and improvement. It implements the set of proven fraud detection rules to screen information.

Enables Flexible Usage: The fraud detection rule set can be configured for different products and types of fraud. It can also be simply and rapidly amended as fraud profiles and products change, offering total coverage for the organisation. Additionally, Hunter™ can be implemented not only within a particular organisation, but also within a closed user group of organisations, with the common intent of preventing fraud nationally using Hunter™.

Offers an Extensive Tool Set: Hunter™ offers fraud investigators a wide range of tools to assist in the investigation of a suspicious case. Visual mapping of links and data assists in the identification of organised fraud and fraud rings.

Generates Detailed Integrated Reports: Once the investigator has made a decision, the status of the case is passed back to the application processing system and the outcome recorded for use in the on-going detection process and for fraud monitoring and analysis. Integrated management information and reporting enables the system performance and fraud prevention team’s efficiency to be evaluated.

Business Services

Helping You Succeed

Experian’s core expertise lies in data and analysis, which enables our customers to get unique insights which lead to making informed decisions for profitable growth. We work closely with Decision Analytics clients in more than 60 countries across diverse industries, including financial services, telecommunications, retail, leasing, automotive, insurance, government agencies and utilities, enabling them to make billions of customer-focused decisions annually.

Contact us to know how you could leverage our global expertise to achieve business growth.

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