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THE STATE OF FRAUD DETECTION

Big Spending. Limited Results.

The rush to offer digital services in the wake of the pandemic left financial institutions vulnerable, and fraud attempts skyrocketed. Despite spending billions on defense, banks lost over $720 billion to identity theft alone in 2021.

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Even as the adoption of anti-fraud solutions increases, nearly half of fraud goes undetected. Costly single-point solutions, multiple fraud scores, and disparate data sets simply can’t keep up with the innovative scams and attacks launched by global criminal organizations.

An Evolving Threat

Requires a New Approach

Sophisticated criminals don’t limit themselves to a single type of fraud, and neither should anti-fraud defenses. To identify these evolving threats, FiVerity brings a holistic platform that integrates and enhances existing rule-based verification systems.  

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Integration

Simple, sensible interpretation of existing data and fraud scores

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Intelligence

Deep AI analysis augmented by human expertise 

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Info-Sharing

Secure threat intelligence sharing between institutions

DIGITAL BANKING

Grow Safely

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Traditional banks entering the digital space, digital banks, and digital asset companies can feel confident with FiVerity. Our solutions are designed to support digital banking’s growth with a comprehensive approach to fraud that verifies legitimate customers while detecting the latest fraudulent schemes. 

NEWS & UPDATES

The Latest from FiVerity

Press Coverage

Protection Throughout Your Business

FiVerity helps financial institutions strengthen a range of consumer-facing business processes. See the industries FiVerity supports and the specific processes we can help you improve.

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Account

Opening

Quickly confirm identities to increase throughput for new applications 

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Consumer

Lending

Review your existing loan portfolio to quickly identify fraudulent accounts

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Commercial Deposits

Identify unrecoverable fraudulent profiles to focus resources on legitimate accounts 

Digital Fraud Defense via Industry Collaboration

FiVerity’s Digital Fraud Network facilitates the secure exchange of fraud intelligence between consumer lending institutions, while preserving the privacy of personally identifiable consumer information. See how FiVerity enables collaboration among financial institutions in the fight against digital fraud.

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Collaboration

among banks, credit unions and credit card processors

partnership

Partnerships

with federal regulators and law enforcement agencies

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Protection

of personally identifiable consumer information

Michael Butler - Grasshopper B2

“FiVerity helps us take an aggressive approach to fraud detection. The platform’s flexibility is critical to meet the needs of our expanding product lines, and working together with innovative fintechs like FiVerity helps keep us on the leading edge."

Michael Butler
CEO
Grasshopper Bank

Mike Blalock - Intel B2

“We're proud that Intel SGX has become a crucial component for so many Fortune 500 companies, and are excited to work with FiVerity to bring this capability to the fight against digital fraud in the financial services industry."

Mike Blalock
General Manager, Financial Services Industry
Intel

Gregg Stephens - DCU B2

“DCU was initially impressed with the adaptability of FiVerity's AI-based models and ease of deployment. Now that it's been in production with daily use by our Fraud Investigation team, we've only grown more impressed."

Gregg Stephens
Fraud & BSA Manager
Digital Federal Credit Union

A Community of Experts

FiVerity partners with an expert community of analysts and investigators to identify and implement best practices for digital fraud detection and information sharing.

Awards & Recognition

"Fraudster tactics continually evolve to stay a step ahead of detection – and the most sophisticated fraudsters can operate at scale in organized crime rings, generating significant losses for the payments industry. It is imperative that payments industry stakeholders work together, share information and keep up with the threat.”

The Federal Reserve
"Payments Fraud Insights", July 2020