In 2020, the FTC reported 2.2 million fraud reports from consumers.
Consumers reported to losing $3.3 billion to fraud in 2020.
34% of all consumers who filed a fraud report with the FTC reported losing money, up from 23% in 2019.
Acuant’s platform provides the tools to quickly prove the identity of good customers at the onboarding stage while continuously validating identities as users transact and progress through the customer journey.
eDNA®, Acuant’s digital identity engine, securely builds, analyzes, and verifies digital identities. With machine learning and graph intelligence, eDNA can discover patterns and signals that indicate fraud with a high degree of accuracy, triggering a step-up verification process only when warranted.
Account activities like a high-value transfer that are deemed suspicious and require step-up authentication come with little friction. Instead of contacting a call center, users go through a convenient yet secure biometric authentication process that quickly confirms valid users and stops fraudsters.
With the intelligence to pinpoint fraudulent transactions with certainty, the step-up authentication process is applied wisely so customers gain peace of mind knowing accounts and identities remain secure, without negatively impacting their experience.
Preventing financial crime requires a coordinated yet nimble strategy along with the resources to execute. Acuant’s Trusted Identity Platform brings together market-tested solutions and 3rd party data for complete identity proofing, compliance and fraud prevention. Get the Forrester report to see how advances in AI are reshaping the fraud management landscape.