Fraud Management Services for Credit Unions

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Manage Risk Limits and Prevent Loss

Determining the value of each member can be difficult but using behavioral trends can allow for more accurate estimates of members credit spending and their limits.  Redefining your credit union’s approach to decisioning against risk can help maximize the growth and make processes more cost effective.  Experian allows you to get ahead of and counter potential risks ensuring the continued growth of your credit union.

 

 

Situation

What will limit risks, prevent fraud, and give predictive data to improve member satisfaction for credit unions?

Resolution

  • Create consistency to support your credit, fraud and compliance policies using Precise ID
  • Automate the underwriting process and improve data management for measuring credit risk and better decisioning with Baker Hill Origination® Suite
  • Launching a comprehensive series of checks, searches and counters to screen every application through Fraud ShieldSM
  • Create sophisticated challenge-response questions with  Knowledge IQSM
  • TrueInsight for VantageScore® is a complete scoring, consulting and reporting package created specifically to guide credit unions through every step of the transition to VantageScore. Utilizes advanced analytics to provide the industry's most predictive and accurate scoring model, to reduce risk and achieve greater consistency in decisioning with VantageScore.
  • Accurately pinpoint risk associated with individual accounts and reveal trends in your portfolio with QuestSM
  • Maintain quality address information and prevent losses with  Address Update
  • Identify members developing credit problems, capitalize on opportunities to extend additional credit or products, and protect members against risk using Risk and Retention TriggersSM
  • Reduces risk by prescreening applicants and improves efficiency by automating the credit decisioning process using Decision InsightSM
 

 

 

Situation

How can credit unions keep a competitive advantage when creating pricing?

Resolution

  • Risk-based Pricing Rule can determine the ideal credit tier breaks and interest rates to maximize portfolio quality and create a competitive advantage
 

 

 

Situation

What can credit unions do to meeting compliance requirements?

Resolution

  • Moving beyond simple questions, to a more complex out-of-wallet identity verification procedure to incorporates broad data assets and analytics using the Federal Financial Institutions Examination Council (FFIEC) Guideline Compliance
  • Precise ID for Fraud Compliance allows for identity authentication procedures and fraud detection services to help accommodate Customer Identification Programs, Know Your Customer initiatives and mandates such as the FACTA Red Flags Rule and the USA PATRIOT Act
  • A list of customizable products and services that meet Red Flag Rules along with a list of when they apply
  • Experian can review and assess a credit union’s portfolio(s) and provide a gap analysis and project design that meets Basel II and III requirements, followed by data prep, development, integration, and validation of loss projections using the a number of models
 

 

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