How a Ground-Breaking Digital Lender Uses Pre-Submit Behavior Signals to Detect Fraud Rings & Save Millions
Fraud rings have been leveraging increasingly complex tactics to outsmart single-layer security systems and other defenses. These attacks were overwhelming Elevate’s traditional fraud prevention systems.
Behavioral Expert Series
The Power of Pre-Submit
To both provide even greater security to their customers and improve ease of access to financial products for genuine applicants, Elevate upgraded the front of their fraud detection stack with pre-submit behavioral signals.
This visibility into crowd-level behavior gives Elevate the ability to see, segment, and be alerted to spikes in fraud ring applicants, bot applicants, and other bad actors, simply by understanding how familiar an applicant is with the information they provide on any form.
This approach has saved Elevate money on fraud losses, while also reducing the pressure on their fraud stack and manual review teams by weeding out fraudsters, faster.