Smart Verification^TM Solution

How many default and fraud risks pass through your business every hour? Imagine making predictions up front that would keep these risks at bay. Based on 13 years of operational experience and millions of customer transactions, Enova Decisions’ Smart Verification solution can be utilized to protect against fraud and optimize operations using real-time, automated identity, account and document verification for customers in the near- and sub-prime spaces.

Our Smart Verification solution utilizes Enova Decisions’ history of analytics expertise as well as our advanced real-time decisioning platform, Colussus^TM, to make better decisions, at scale and in an instant.

With the Smart Verification solution, Enova Decisions uses data from a number of sources, including device data, to verify identity and reduce fraud. For instance, IP address device data is pulled from the customer transaction and matched with customer location data for real-time, automated identity verification. If the IP address shows a foreign or different location from the city or ZIP code provided, the customer’s identity cannot be verified and is flagged as fraud.

Account velocity is another example of Smart Verification; fraud can be identified when there is a velocity spike for a characteristic that’s typically low-volume in a client’s customer portfolio. These characteristics could include a state of residence, application device or the number of inbound calls with the same phone number. These are just a few of the examples of the types of data that can be used to make real-time decisions about identity to optimize operations and reduce fraud.

Talk with one of our experts on how you can begin using the Colossus^TM digital decisioning platform.