Banking & FinTech

Last year, the big banks lost over $15 billion because of fraudulent activity, with an additional $16.3 billion if you add in debit/credit card activity.  That number is only going to rise as losses are slated to surpass $35 billion by 2020. While fraud is escalating, the good news is so is our ability to identify suspicious behavior in real-time.  

Precognitive provides a first line of defense, addressing emerging fraud tactics while providing a smooth journey for consumers interacting with your online presence.

How it Works:

Account Takeover Detection

Precognitive combines an intricate set of techniques with device, behavior, and biometric data collection and analysis to produce a virtual window of user activity in real-time. Precognitive can identify and stop account takeover activity dead in its tracks by analyzing current activity against a user’s prior device and behavioral profile. 

Learn more >>

Fraudulent Account Openings

By capitalizing on real-time device assessment, deep data aggregation and analysis, in combination with machine learning capabilities, Precognitive understands the true context of user activity. Our technology follows each user interacting with your application process and sees how often they repeat the process, and even how they enter data. This allows us to detect problematic users and prevent them from opening new accounts. Our integration with existing ID verification services allows us to go a step further. We perform identity verification as part of the account opening screening so that we can ensure not only that the user is activating in a legitimate manner but also that their identity is valid and cross checked against data obtained through our device intelligence and behavioral analytics solutions.

Learn more >>

Fraudulent Account Openings

By capitalizing on real-time device assessment, deep data aggregation and analysis, in combination with machine learning capabilities, Precognitive understands the true context of user activity. Our technology follows each user interacting with your application process and sees how often they repeat the process, and even how they enter data. This allows us to detect problematic users and prevent them from opening new accounts. Our integration with existing ID verification services allows us to go a step further. We perform identity verification as part of the account opening screening so that we can ensure not only that the user is activating in a legitimate manner but also that their identity is valid and cross checked against data obtained through our device intelligence and behavioral analytics solutions.

Learn more >>

Fraudulent Transactions and Funds Movement

Existing user accounts in the financial space are under constant attack by fraudsters. Financial services companies need to know that the activity taking place is authorized by their customers. Our hybrid decision engine is able to assess transactional activity in real-time, rejecting fraudulent transactions and movement of funds before they take place. We do this by using your supplied event data, coupled with our device intelligence and behavioral data. Get a real-time allow or reject decision with every event that exposes your company to financial liability and stay a step ahead of fraud.

Learn more >>