The challenge
Fraudsters open accounts with stolen or made-up details, and every extra step at sign-up costs a fintech good customers. This consumer fintech wanted to stop fraud at account opening without slowing down the real customers it works so hard to win.
The solution
Monnai checked each new customer’s phone number and email address, and scored the risk with a model trained on the fintech’s own fraud history, so the score reflects the fraud this business actually sees. Every score comes with its reasons, so the team knows why an account was stopped.
The impact
85% of fraud was stopped at sign-up, and most good customers were approved instantly. The fintech tested Monnai on its own customers first. Then it signed.
