Did you know that 30% of fraudulent personal loan applications showed signs of first-party fraud in 2022? And that 50% of fraudulent SMB loan applications had first-party fraud signals too? While much attention has been paid to third-party fraud over the past few years, first-party fraud is equally as risky — but notoriously difficult to detect. With the power of AI and big data, however, fraud teams can uncover insights that will help them identify cases of first-party fraud before it hits their bottom line.
Our panel of experts shares ways to increase fraud rigor without adding friction to the customer experience, what a modern fraudstack looks like, and how to determine the tools you need.
Consumers now expect fast approvals and frictionless experiences — meaning teams that still rely heavily on manual reviews for onboarding and underwriting are falling short.
Fraudsters thrive in times of uncertainty, so it’s more important than ever to arm your organization with rigorous KYB checks and fraud detection. Check out this post to see how Inscribe can help.