The collaboration will provide Kompliant with access to Kount Payment Fraud solutions that use AI. These solutions integrate supervised and unsupervised machine learning to analyse data from online purchases or transactions.
Kount Payment Fraud solutions offer merchants a transaction overview and use machine learning to establish rules and streamline approval and rejection processes. This not only reduces operational expenses but also upgrades the efficiency and scalability of their fraud prevention teams.
Kompliant officials stated that integrating Equifax's AI-powered fraud detection features into their workflow provides financial institutions with a comprehensive solution. This not only protects against fraud, but also aids with risk management procedures, boosts operational efficiency, and facilitates data-informed decision-making.
In March 2024, Equifax UK revealed a partnership with the free-to-use platform Homely to support first-time homebuyers in preparing for mortgages.
In this collaboration, Equifax provides Homely with Open Banking data and credit insights, such as consumer scores, affordability details, and credit report information. This initiative aims to help potential buyers by ensuring that their rental payments contribute positively to their credit and affordability scores. Equifax will further assist in the user registration process by using its Open Banking ID solution for precise customer identity verification.
Homely, is dedicated to simplifying and digitalising the home-buying journey for UK residents. Its platform will connect users with various lenders and home-buying programs, and it will also be accessible through white-labelling options for lenders and mortgage brokers.
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