Solution Sheet

Account Opening Fraud

Download Now

Digitization and the ability to open a new account from anywhere creates opportunities for consumers and fraudsters alike. Consumers benefit from the convenience of a digital account opening process. Still, the combination of pandemic-driven fraud schemes, data breaches, and stolen identities makes it difficult for financial institutions to differentiate a potential customer from a fraudster. If they make the wrong call and decline the consumer, they lose potential lifelong customers and damage their reputation. In the same vein, if they unintentionally allow a fraudster through the door, there is an unlimited amount of financial damage to be reconciled. This indefinite chase exhausts investigators and chips away at the bottom line. 

Download our solution sheet to learn how Feedzai’s Account Opening solution:

  • Enriches account opening assessments with device, network, email, and behavioral data to create a comprehensive view of risk
  • Automates the account opening process for low-risk customers while creating layered controls for higher-risk customers
  • Keeps customer friction low and fraud detection rates high through a machine learning platform

Download Now
Sign up for our newsletter

Stay up-to-date on Risk Management