Behavior Secures Growth for Top Banks
Why premier banks and global financial institutions use behavior to catch fraud, convert more genuine customers, and reduce fraud operations costs.
Behavioral Expert Series
Behavior Drives Results
NeuroID’s behavioral analytics helped Addi to:
CATCH FRAUD FASTER
of verified fraud was correctly classified as risky using digital behavior.
STOP WASTING MONEY
more efficient on identity costs. This bank reduced unnecessary credit inquiries.
CATCH MORE FRAUD
Behavior caught 57% of verified fraud cases that were previously approved at manual review.
Human Digital Behavior
Human digital behavior—how an online user navigates a form when entering personal information they should know—yields insight into whether or not someone is who they claim to be. Human digital behavior is untapped knowledge for banks and financial institutions. With behavior, they can assess the actual human being in real-time,and not just assess the applicant’s data.
This same behavior knowledge dramatically improves the account opening processes, which are more efficient, yield greater conversion, and are more profitable as a result.
Behavioral analytics from NeuroID are a key part of account opening at the premier financial institutions of the world.”
Using Behavior Unites Three Different Teams Across the Bank
Risk Officers at the top banks use behavior to see fraud faster, detecting fraud with 90% precision early, even before an applicant presses submit.
Also, behavior is a unique lens that often catches the fraud that slides through a traditional fraud stack.
Behavior decreases false declines by triggering a better experience for truthful applicants. This improves abandonment rate, conversion and new account acquisition.
No previous information on the applicant is necessary to realize conversion benefits.
The earlier that applicants can be identified, the more money a business saves. Be precise with your identity checks. Don’t spend on a credit data call for a fraudster. Send fewer applicants to manual review.
Read the Customer Story
Learn why premier banks and global financial institutions use behavior to catch fraud, convert more genuine customers, and reduce fraud operations costs.