Refine Intelligence has launched its Digital Buyer Outreach for Verify Fraud Prevention answer.
The expertise robotically contacts clients whose checks have been flagged as suspicious, and offers a user-friendly digital inquiry course of to assist clients resolve points in seconds.
Refine Intelligence made its Finovate debut at FinovateEurope 2023 in London.
Refine Intelligence launched its Digital Buyer Outreach for Verify Fraud Prevention answer this week. The expertise, which works with all present examine fraud detection methods, will assist banks and different monetary establishments cope with a rise in examine fraud on account of each mail theft and the event of superior counterfeiting methods.
Digital Buyer Outreach for Verify Fraud Prevention robotically contacts clients whose checks have been deemed suspicious. A user-friendly digital inquiry course of that takes a number of seconds to finish permits clients to assessment the flagged examine and instantly confirm key points similar to the quantity and the payeee.
“Fraud groups are beneath time strain to cope with a tidal wave of alerts about doubtlessly fraudulent checks,” Refine Intelligence CEO and co-founder Uri Rivner stated. “In a really perfect world, they’d ask the client about every alerted examine, however chasing clients over the cellphone is pricey and worsening for everybody concerned. This new answer closes the hole between detection and prevention by enabling clients to resolve alerts themselves. It really works with any detection system, maximizing the present workflow and decreasing fraud losses and operational prices for coping with fraud claims.”
Refine Intelligence’s Digital Buyer Outreach platform helps monetary crime and compliance groups deal with a variety of fraud and monetary crime points. The platform provides banks the flexibility to robotically contact clients to resolve each AML and examine fraud alerts, in addition to to automate enhanced due diligence (EDD). The expertise leverages proprietary AI to glean insights into anomalous transactions, enabling fraud and compliance groups to be taught the context by which the anomaly occurred and to find out whether or not the transaction is reputable or not.
Refine Intelligence made its Finovate debut at FinovateEurope 2023. With headquarters in each Israel and New York, the corporate this yr has been named to the FinCrimeTech 50 for 2024 by AML & FinCrime TechForum, and Chartis Analysis’s Monetary Crime and Compliance 50 for 2024. Refine Intelligence has raised $13 million in funding courtesy of an funding from Glilot Capital Companions and Fin Capital.
Study extra about Refine Intelligence in our spring 2023 Finovate World interview with Uri Rivner!
Photograph by cottonbro studio
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