Trustfull launches silent integration – ThePaypers

Digital risk intelligence company Trustfull has launched Silent Onboarding, a product aimed at defending against synthetic identity fraud.

Trustfull’s Silent Onboarding would leverage digital signals to pre-screen customers without interfering with the user experience. The solution combines phone, email and IP address intelligence from public sources into a real-time digital risk score. According to the official press release, suspicious users are identified and blocked through silent checks.

Silent Onboarding includes a single API for integration into existing account opening processes as well as a digital risk intelligence platform.

Its key features include an advanced identity graph that can help visualize suspicious connections between users based on digital identifiers, a no-code rules engine with customizable risk models, and actionable insights to refine its security strategies. risk over time.

As the official press release highlights, the launch of Trustfull’s Silent Onboarding is part of a broader effort by the company to ensure corporate security and compliance across all digital customer interactions.

The bigger picture

According to Javelin, in 2023 alone, losses from identity fraud totaled nearly $23 billion, a figure influenced by the increase in synthetic identity fraud. This type of fraud involves creating a false identity by combining real contact details obtained through data leaks with ad hoc fabricated information. Synthetic identities are being exploited to commit a range of digital and financial crimes, including money laundering, payment fraud and promotional abuse.

According to the same source, in 2023, fraud has also had a significant impact on consumers’ time. If, in 2022, the average time spent by consumers to resolve problems resulting from identity fraud was six hours, in 2023, the hours spent resolving fraud increased significantly to reach almost 10 hours on average. This change would have caused major disruption for both consumers and financial institutions.

Learn more about Trustfull

Trustfull extends a digital risk intelligence platform that can help businesses reduce risk, protect integrity, and accelerate growth. The company leverages hundreds of digital signals to detect fraud and financial crime attempts throughout the customer journey. With its silent checks of phones, emails, IP addresses, devices and browsers, Trustfall’s ready-to-use models, workflows and data enable teams to make overturned risk decisions without any implication on user experience.

In late 2023, it was announced that the company had partnered with AI-based risk decision software provider Provenir.