Intelligent Solutions For Cyber Fraud Detection For Financial Institutions

FiVerity develops and markets AI and Machine Learning solutions that detect sophisticated forms of cyber fraud, delivering actionable, proactive threat intelligence. The company’s solutions meet the unique requirements for financial institutions with consumer offerings, including banks, credit unions, credit card providers and online lenders.

FiVerity is featured in a Federal Reserve Bank White Paper on Synthetic Identity Fraud (SIF), the fastest growing type of fraud. FiVerity’s AI and machine learning-powered solutions prevent both existing and new types of fraud more effectively than existing alternatives.  Blacklist databases are outdated the minute they are published, and rules-based systems lack flexibility to adapt to the ever-changing nature of cyber fraud. Only FiVerity offers ‘zero day’ capabilities to proactively predict and identify new threats.

What Is Synthetic Identity Fraud?

In Synthetic Identity Fraud (SIF) criminals combine real and fake information to create entirely new, fraudulent identities to infiltrate financial institutions.

After opening accounts, SIF fraudsters behave like legitimate customers while building up their creditworthiness, buying small items and making all payments on time. But it is all a façade designed to get them more credit to set up bigger scores.

To learn more about SIF, Click here.