“I see dozens of companies a week and only with ForMotiv have I seen true industry-defining technology. The underlying platform of DBI applies to a myriad of use cases in the fraud and security space.”
Managing Director, DreamIt Ventures
Problem
This global financial service company was suffering from millions of dollars of fraud losses as a result of fake account opening. Stolen personal information was used to create synthetic IDs and the cards were approved. Their existing fraud detection models were based on traditional means of verifying personal data, device ID, etc.
Solution
After integrating ForMotiv’s Behavioral Intelligence solution, they were able to capture users micro-interactions, digital body language, and leverage real-time risk scores and machine learning behavioral analysis models. With this new level of visibility, they were able to distinguish between legitimate and fraudulent applications, saving them millions of dollars and countless hours chasing false positives.
