In beta for the past few months, Fraud.net is proud to announce the Banking Marketplace API has been published and available for production use!

Many of our fintech and banking clients support multiple partners and have high levels of complexity in managing them. This API allows our clients to send transactions from each of their partners to the same API endpoint for risk assessment. Also, there are new ways to evaluate risk including at the intermediary bank level, the counterparty account and routing (or other bank codes) level, the partner level and changes made at both the account and customer level.

You can view the documentation here!

Sayari: Clients can now utilize Sayari's data to further enrich their investigations. Sayari offers data intelligence solutions for financial crime compliance, risk management, and corporate due diligence. By leveraging open-source and public records, Sayari helps organizations investigate risks, uncover connections, and make informed decisions.

Bug Fixes: Includes updated calculations for distance comparisons in rules as well as a few usability updates that make for a more seamless experience.

We are excited to announce that Events 2.0 is now available in both the Sandbox and Production environments. Features include customizing the layout of event pages, customizing the details within each card and even customizing what the field names are called. Also, this includes a big upgrade in features clients already use like Network History, Rule Results, Document Manager and so much more. Not to mention, we upgraded the design all around!

Events 2.0 would not have been possible without the input of all of our clients. We thank them for helping us through a series of workshops to improve the user experience and overall product.

Talk to your Customer Success Manager today to begin testing!

As mentioned in previous posts, Fraud.net is gearing up to release a new and improved case management portal. This past week we added some new features to make the user experience even better. This includes design improvements to the Rule Alerts and Network History cards as well as some minor tweaks and bug fixes.

The Fraud.net AppStore continues to fill up as we added two new apps to it this week. 

We are pleased to announce that our clients can now utilize AtData and Ekata to help in their workflows and decision-making processes.

Ekata's Account Opening App elevates the customer onboarding experience for ecommerce companies, marketplaces, and financial institutions. Allowing our clients to onboard more customers with higher confidence and lower friction while reducing account opening Fraud.

AtData is a lookup app that can provide additional insights into the email address used in an event. This includes email verification and email activity. AtData specialized in Fraud Prevention and has this to say: 

40% of fraudsters use a newly created email. 10% of Fraud is attempted using addresses that are fake or invalid. Companies worldwide power their fraud prevention with AtData’s massive historical database of email addresses and the billions of real-time signals we receive every month. We've been compiling email-centric identity data for over 20 years, and we have the most comprehensive and accurate email data available to enhance your fraud discovery models.

Fraud.net's data science team has a new and improved way to detect if a custom model has drifted in performance. Usually, models drift when a new demographic or product has been introduced by a client. As the behaviours of our client's customers change, we want to make sure our models adjust accordingly as well. With our new method of Drift Detection, our models stay up to date and continue to perform well, even as the data received changes.

New fields have been added to the Fraud.net Loan Application API. These fields make it easier to send updates regarding the repayment of the loan. With this information, users can better track the ROI on each loan. Check it out here!

As Fraud.net prepares to launch Events 2.0, features are being built to allow for our clients to have deeper levels of customization than ever before. 

In collaboration with your Customer Success Manager, users can now choose the features they want to include when reviewing an event. Select from all sorts of new cards including the Document Manager, Comments card, AppStore Results, the newest Network History card or make your own card from scratch!

Not only can the layout be customized, now users can add the data points they find most relevant to each card. This includes custom fields!

New Apps!

Introducing two new apps now integrated with Fraud.net: Valida by Gradiant for document verification and Veriff's Identity Validation.

Valida by Gradiant

Upon uploading a document to the Document Manager, a user will have the option to run the Gradiant App to detect if the document has been forged. The user will then be able to review the success of the upload, and the outcome of the app. The user will also be able to view document with Gradiant's evidence of forgery. 

Veriff's Identity Verification

A Fraud.net user can now call upon Veriff's Identity Verification app to match the image of their end users live selfie with the image on their driver's license or passport. With over 11K covered IDs, in over 230 countries and territories, and in 45 languages, It’s as simple as taking a selfie and snapping a photo of an ID for end users to get verified in a matter of seconds. 

AppStore 2.0 Released!

What was formerly known as Marketplace, has now been updated in the Case Management Portal. AppStore 2.0 includes an overview of each available app, including a sample of what results can be expected. Activativated apps now show with a green checkmark, so you can easily browse the entire store and find new apps to reduce risk, cost or simplify compliance. Fraud.net includes two types of apps: lookups (which are passive and provide additional data points on an entity element) and verification (which prompt the end user to further verify a piece of information such as a driver's license or bank statement. Access the AppStore under the Settings tab. To learn more about using a specific app, contact your Customer Success Manager!