Fraud Prevention for Banks & the Financial Sector

Is the customer’s data correct? This is a critical question during application reviews, because true creditworthiness can only be calculated with true data. Fraud prevention for banks works in a fundamentally different way than traditional credit checks, with every check detecting incorrect entries and fraud attempts. Employees need different systems and supplementary data sources. We deliver both. Our FRIDA software offers the best in comprehensive protection. And our DEVICE IDENT service offers you a reliable data source for all online routes.

Facts about the Financial Sector

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2 – 3% of all credit applications show signs of fraud.

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25% of losses in retail business have characteristics that indicate fraud.

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A German bank account with a credit card costs €500 on the Darknet.

Fraud Prevention for Banks with RISK IDENT

Your partner in fraud prevention

We do not see ourselves as a pure technology provider. We are your partner in the fight against online fraud. Our consultant team will be happy to advise you. We look at your processes and help you find the best way to prevent fraud.


The best user interfaces for your specialists

Our prevention software FRIDA can be operated intuitively. The user interface is designed for processing by financial service providers. Every employee can use the work interfaces for efficient customized usage.

Sharing Experiences and Pooling Data

Cross-industry pooling of information about fraud

DEVICE IDENT supports the exchange of device information across different industries, financial service providers, online retailers and telecommunications and makes them a part of the community.

Effective Fraud Prevention for Banks & Financial Service Providers

Fully Automated Lending

Fully Automated Lending

Customers expect online transactions to be completed quickly, and their banking needs are no exception. In order to keep customer waiting times as short as possible, the banking sector introduced full automation. However, this fully automated granting of credit is a particular challenge in fraud prevention for banks & financial service providers: If perpetrators find a gap in the process, they can automate their attacks to match. This results in the risk of a large number of losses, especially when discovery of the fraud happens many months later, which so often happens.

When it comes to fraud management, it’s important to have a stable defense strategy that includes all available data sources; this gives customers a reliable service while also blocking fraud. Therefore, in addition to analyzing classic application and credit agency information, other sources like device data (which can be determined via our software DEVICE IDENT), origin data and, if necessary, non-personal biometric information, should be examined.

Payment Service Provider

Payment Service Provider

You’ve just received a new customer from your partner dealer that you don’t know yet. Which payment method do you allow? PayPal? Instant bank transfer? Credit card? Whoops — you were too slow! The customer gave up on waiting for you to decide and has already moved on to another shop. Payment service providers have to make decisions such as the one above in a very short amount of time with very little information. This provides an attractive breeding ground for fraudsters who are constantly looking for weak points in the buying process and who are constantly changing their attack patterns. The short process time also provides a challenge for your fraud management: Online services have to make decisions in real time, which doesn’t allow for lengthy manual processing. Therefore, automatic examination of as much information as possible is imperative. The ability to analyze devices and the exchange of information about compromised devices are the keys to meaningful fraud prevention for banks and the financial sector.

Prevention of Fraud in Motor Vehicle Financing

Prevention of Fraud in Motor Vehicle Financing

An automobile is almost as good as cash, and once a fraudster is able to get a car off the lot, there is little chance of getting it back undamaged. The typically short processing time of motor vehicle financing presents a challenge. Only in exceptional cases is document review available prior to a final decision being determined. Meanwhile, the process is made all the more difficult by the presence of traitorous sellers who work with fraudsters — which is sadly a common occurrence.

An Overview of Our Products

FRIDA is the intelligent all in one solution in the prevention of online fraud

It delivers reliable results in real time by using modern machine learning algorithms to establish connections between transaction data and recognize patterns. Man and machine — the dream team for online fraud prevention.

Fraud detection through the most used form of fraud prevention: device fingerprinting

Every device leaves digital traces on the internet, similar to a fingerprint in the real world. Device Ident recognizes fraudulent devices and prevents impending damage.

Your contact for Finance

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Dirk Mayer

Head of Anti-Fraud Consultants

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Fraud prevention in real time

Risk of each transaction assessed in real time while speed of transactions remains high

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Customizeable and scalable

Individual customization of rules and reliable with high transaction volumes

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Efficient pattern recognition

Recognition of connections between fraudulent transactions identifies fraudsters

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Coming from abroad?
Contact our international sales team!

Jürgen Brandt - VP of Business Development

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