iDenfy, Manu partner to evaluate customer behaviour and prevent fraud

Wednesday 20 January 2021 15:28 CET | News

iDenfy has partnered with Manu, a Lithuania-based organisation specialising in behavioural analytics, to list its behavioural AI as iDenfy’s additional product.

According to the press release, the partnership will mark the beginning of a new journey between the two tech companies. Manu designed their product to assist finance companies in differentiating possible deception from genuine clients.

According to Manu, every person filling an online form leaves behind some traces. The company worked on an accurate behavioural process using real data on credit scoring, frauds, and more broadly customer performance, which enables it to predict the risk of potential customers solely from behavioural patterns. It helps companies eliminate potential fraud and credit losses.

Manu addresses that companies face two difficulties with personal data about customers online. First, due to a lack of customer data, a business cannot predict fraud. Second, companies that even have quality data spend unnecessary amounts of money by rejecting customers. Manu states that this can be done with fewer data and has developed 60 different behaviour metrics to collect 4000 data points during a single form-filling process. It then profiles each customer depending on their behaviour during onboarding.

Furthermore, with Manu’s behavioural AI, iDenfy wants to enhance its identity check algorithm. iDenfy will also offer Manu’s AI model that evaluates customer behaviour during an application process. Once the product is on offer, iDenfy’s customers can effectively use it to identify potential fraud.

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Keywords: iDenfy, Manu, business partnership, behavioural analytics, risk management, fraud prevention, consumer onboarding
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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