Reducing Fraud In Digital Banking
One of the leading mobile-based financial services targeted at millennials approached Simility to help fight fraud. Simility provided an end-to-end solution which included customized models for their specific needs.
Fraudsters were using the company's customer accounts to funnel money via stolen identities. But with Simility's advanced device fingerprint technology, the company could detect multiple accounts created from the same device and suspend them before a single stolen payment was processed.
Download this case study to learn:
- Why the company turned to Simility's fraud prevention solution with machine learning;
- How they reduced fraud by 70 percent while increasing business sevenfold;
- How they improved efficiency and reduced chargebacks.