Preventing synthetic identity fraud: The need for a new toolset in the fight against synthetic identities

First-party fraud and credit risk are often indiscernible at origination, resulting in misclassified losses. Learn how to separate the two — and why the easiest way to do so may be hiding in plain sight. 

Key insights:

• Why first-party fraud and credit risk are so difficult to differentiate
• The financial and strategic costs of misclassified losses
• How first-payment default can unveil fraud early

Behavioral analytics enables Terrace Finance to stop advanced fraud threats and prevent losses from reaching their partners.

Hear directly from Andy Hopkins, CEO of Terrace Finance:

• Why fraud prevention is a crucial investment area for Terrace Finance
• How behavioral analytics helps Terrace protect its lending partners from evolving fraud attacks
• Hopkins’ advice for other leaders looking to invest in fraud prevention

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Terrace Finance sought out a solution to stay ahead of evolving fraud attacks. They landed on NeuroID’s behavioral analytics — and gained immediate, pre-submit visibility that upgraded their fraud prevention strategy.

Key Results:

• 50+ reduction in manual reviews
• Reduced fraud for lending partners by over 50%
• $250K in potential losses prevented in a single attack