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Regtech Veriff Enhances Landscape of Identity Verification Protection with Fraud Mitigation Packages

Veriff, a leading global provider of identity verification solutions, has recently launched its new “Fraud Protect” and “Fraud Intelligence” packages. These packages are designed to empower organizations with the necessary tools and expertise to effectively combat fraud attempts and verify legitimate users more efficiently.

The two packages are customizable to cater to the specific needs of each customer, taking into consideration the nature of their business, risk requirements, and internal fraud detection capabilities.

Utilizing advanced machine learning models, behavioral insights, and Veriff’s extensive fraud detection expertise, both packages aim to enhance organizations’ ability to combat the ever-changing landscape of fraud attempts.

Veriff’s IDV process involves analyzing various elements, such as the user’s document, face biometrics, device, and network, as well as previous fraud patterns, in order to deliver industry-leading fraud protection.

David Divitt, the Senior Director of Fraud Prevention & Experience at Veriff, emphasizes the importance of regularly updating fraud prevention solutions to stay ahead of fraudsters. He states that Veriff has developed powerful fraud mitigation solutions to combat identity fraud and ensure the security of their customers’ businesses.

The Fraud Protect package helps organizations mitigate various types of fraud, including impersonation, synthetic identities, identity document fraud, velocity or bonus abuse, and multi-accounting during the remote IDV process.

Key features of Fraud Protect include enhanced detection of advanced fraud through the Industry CrossLinks feature, which leverages Veriff’s global network of customers to uncover fraud patterns and block repeat offenders across different organizations. Additionally, organizations gain access to Veriff’s in-house fraud experts, who provide valuable insight and control by identifying global fraud trends and developing effective fraud mitigation strategies.

Fraud Intelligence, on the other hand, builds upon the features of Fraud Protect by incorporating additional signals to further minimize fraud. This package is specifically designed to empower fraud operations teams to stay ahead of the constantly evolving threat landscape.

Veriff’s new Fraud Protect and Fraud Intelligence packages offer organizations the necessary tools and expertise to effectively combat fraud attempts and verify genuine users. With their advanced technology, behavioral insights, and industry expertise, Veriff aims to provide organizations with a reliable and competitive solution to mitigate fraud risks and protect their brand reputation.

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