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Financial institutions are heavily burdened with fighting financial crime, identifying fraud, and keeping up with the changing landscape that the fraudsters create. The fastest growing fraud impacting financial institutions today is Synthetic Identity fraud. And that is why Coalesce, using Artificial Intelligence, developed SynthID™ Detect. A solution to assist during the application process to identify fraud that your current process is missing.
Synthetic Identities appear to be “Good Actors”, they exist and behave like ‘an account in good standing’, until they “Bust Out”.
Synthetic Identity fraudsters could be in your portfolio today. “Bust Out” could have already happened and they are buried in your charge offs representing bad debt.
Whether you want to investigate your current portfolio of open accounts for potential fraud or examine your portfolio of recent charge offs to determine what percent is bad debt and what percent is fraud, Coalesce’s SynthID Portfolio Analyzer™ will provide those answers.
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