Instinct is a valuable tool for any organisation in the business of credit, financial services, insurance, telecommunication services, and government departments - in fact anyone who is open to any kind of application fraud risk.

Put simply, Instinct provides your organisation with a competitive advantage by reducing the possibility of being exposed to application fraud.

Instinct can identify fraudulent applications from both professional syndicates and small-time fraudsters alike. It uses a combination of historical data, intelligent rules-based logic, data validation and fraud scoring to identify any suspicious applications or customers. All applications and customers are assessed for their "fraud potential" and assigned a fraud risk grade - those cases which are highly suspicious are highlighted for further analysis by a fraud analyst. This is done using an advanced queuing system and several key "alert strategies".

Instinct can also identify fraud arising from collusion and it is a highly effective tool for assisting internal audit and fraud risk investigations.

At the same time Instinct is accurate at identifying actual fraud, with fewer "false positives".

Business benefits

• Prevent losses by reducing syndicate, small-time, third party and internal application fraud, and first payment default;
• Automatically run all credit applications through a fraud check prior to credit decision/fund release;
• Enable the fraud reviewer to carry out fast investigation and database interrogation;
• Fraud rules and strategies can be changed instantly;
• Enable the fraud analyst to focus on the high fraud potential applications first;
• Prevent repeat offenders by utilising and maintaining a detailed database of known frauds;
• Ensure that your organisation is not an easy target for fraud - fraudsters target organisations where they know they can easily get credit approved fraudulently. If your organisation has strict fraud control in place, then fraudsters will instead target other banks;
• Document fraud cases centrally and thoroughly - Instinct can be used as the central database for all types of fraud. Fraud cases can be stored electronically so that if some application details match the fraud case in the future, it is easy for the fraud reviewer to review the details of the previous fraud case;
• Continually improve your application fraud prevention strategies - Instinct can be used to test fraud rules in a production environment, and experiment with new fraud rules to detect new types of application fraud. All the reporting is built into Instinct so that rules can be continually improved.

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