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Corporate Solutions
Corporate Solutions
Financial crime costs the UK economy billions of pounds each year. Callcredit has developed a range of leading edge fraud solutions which are invaluable tools in the fight against this costly crime.
GeoFraud is a powerful and unique segmentation tool from Callcredit, which accurately identifies the potential risk of fraud at postcode level.
Developed in conjunction with Jaywing, experts in the development of credit fraud and risk models, GeoFraud uses a sophisticated blend of data to produce a postcode level fraud index that can be used to add value at any stage of the customer lifecycle, from acquiring new business to managing customers.
GeoFraud is not dependent on specific application level data, which enables wider use across all areas of the customer lifecycle for both credit based and non-credit based applications.
GeoFraud for Marketing is an excellent tool for pre-screening direct mail lists to change marketing strategies in areas where the risk of fraud is very high.
Significant customer service issues, and costs, are borne by clients when they target customers who they subsequently decline to do business with.
The use of GeoFraud to drop just 2% of high fraud risk prospects from a mailing would enable clients to significantly cut production and postage costs. A client sending 25 million mailings a year could easily save over £400,000 on production and mailing costs alone, not to mention transactional and staffing cost savings throughout the customer lifecycle.
GeoFraud also enables clients with large existing customer portfolios to vary their up-sell and cross-sell strategies based upon fraud risk. This enables clients to make more informed decisions as to whether to increase limits or offer new facilities to some of these higher risk customers.
GeoFraud for New Business can be used in isolation to add a powerful fraud dimension to existing risk decisions. Alternatively for more sophisticated fraud decisioning, GeoFraud can be combined with application level scores to significantly enhance the overall predictive power of the score.
Where existing Bureau based fraud prevention tools are in use, GeoFraud can be used to assist in intelligently and cost effectively refining their usage strategy. Increasingly organisations are realising that it is not cost effective to continue calling these Bureau based transactional tools where the risk of fraud is very low.
GeoFraud for New Business adds significant value in fraud detection, particularly when a previous address is supplied. It compares the relative risk of the current address with that of the previous address. Unlikely moves can be highly indicative of impersonation fraud.
Conversely at the other end of the spectrum, where the level of fraud is minimal, underwriting processes can be streamlined and different conditions may be applied to the account, for example, cards could be sent out pre-activated in order to reduce operational overheads.
Mailing Strategies
Despatching plastic cards and cheque books is an expensive overhead for organisations. By using GeoFraud for Customer Management to identify postcodes with a high fraud risk and those areas where the risk is negligible, mailing despatch strategies can be adopted to ensure that losses through fraud are minimised. Similarly GeoFraud can also be used to set fraud indicators where retailers experience high levels of goods lost in transit.
Change of Address
Account takeover is an increasingly attractive method by which fraudsters obtain access to funds. This form of impersonation is where the fraudster acting as a genuine customer, advises the lender of a change of address and requests replacement card/new cheque books, etc. Unusual address changes can often highlight cases that require further clarification. GeoFraud can be used in such situations, to compare the relative risk at a current address with that at previous addresses.
Account Management
GeoFraud can be combined with existing datasets to help refine up-sell and cross-sell strategies and to limit exposure to customers in neighbourhoods where the likelihood of fraud may be high.
Online Employee Screening, Enabling Informed, Profitable & Mutually Rewarding Long-Term Recruitment Decisions
Pre-screen & verify potential employees quickly and with confidence using Callcredit's automated online candidate checking service, CallCV.
Developed in partnership with leading industry experts and building upon 5 years of employee screening expertise, Callcredit’s online candidate verification system, CallCV enables automated, fast and effective pre-screening of potential employees
Fight fraud and identity theft by using CallFraud, Callcredit's online fraud check. CallFraud performs a real-time check against SHARE, Deceased, GeoFraud, Non-Standard Address, Fraudulent Passport and Gone-Away datasets. For CIFAS members, CIFAS data is also searched. CallFraud consolidates a wide range of data sets to provide complete protection against fraud.
For further information about any of our Fraud Solutions, please call us on 0113 244 1555, or email us at sales@callcredit.co.uk
