Visual

RiskShield: Application scoring and credit risk

On-boarding a new customer? Like every financial institution and insurance company, you want to ensure you have a proper customer acceptance process in place to define the business risk of every new relationship. What are the customer’s intentions, creditworthiness, money laundering risks, and other relevant factors? There are many risk factors to assess before taking a new applicant on-board. Our tool set provides you with a single solution to analyze a multitude of internal and external risks and protects your business from credit risk, application fraud and non-compliance with AML regulations. 

 

Credit Scoring

accurate and consistent credit scoring

 

Credit scoring reveals an individual’s financial status, as well as the individual’s background such as the assumed identity, address details and social network. RiskShield delivers you a tool set that offers a wide range of scorecard mechanisms using advanced techniques like Fuzzy Logic decision-making and intelligent scoring algorithms. For every new application request, for example to open an account, request a new card, loan or insurance policy, RiskShield will calculate a total risk score within milliseconds based on multiple criteria using various data feeds from internal and external sources. RiskShield enables accurate and consistent credit scoring and finds matches in data that you would have never thought would have been uncovered. 

 

application fraud

identifying first party and third party application fraud

 

RiskShield can help identify first-party and third-party application fraud in real-time before completing the on-boarding process. With our intelligence decision logic technology, RiskShield can monitor and match any used identification, contact information and historical in-house data to detect any known red flags, suspicious combination of data or any inconsistent or forge information. The flexible architecture allows you easily to connect with any data sources such as address registers, stolen ID document lists and crime list records in order to verify the legitimacy of the application request.

 

Knowing Your Customer

risk based customer due diligence and ongoing monitoring

 

Customer identity or truly know the customer makes it the basic foundation of every risk scoring strategy.  In recent years, increased regulatory requirements have forced financial institutions to expend significant resources to address CDD (Customer Due Diligence) controls. RiskShield is using the same smart technology for risk scoring to increase efficiency among compliance teams and determine the right due diligence process for accepting new customers. Based on the scoring results and our PEP (Politically Exposed Person) and sanction screening capabilities, RiskShield can quickly and accurately identify customers depending on their risk factors and then automatically segment them. This facilitates compliance by delivering an enhanced due diligence or simplify due diligence process. 

 


Learn more about our fraud prevention capabilities for banking, payment service provider and insurance companies by downloading our brochure.