Publicly Traded FinTech Reduces Charge-Offs 12.7% Using Behavioral Intelligence

Problem:

ForMotiv engaged with fraud analytics leaders at a publicly-traded FinTech company that issues personal loans in Q2 2021. The VP of Fraud Analytics and Director of Scoring and Analytics were looking to reduce fraud and delinquency rates by adding alternative datasets to their existing fraud and scoring models as they approached their busy holiday season.

Solution:

The FinTech deployed ForMotiv Behavioral Intelligence to identify applicants in real-time that had a high propensity to become delinquent or cases of outright fraud. Using ForMotiv’s proprietary digital body language data, they were able to identify 7 highly-predictive high-risk behavioral signals that were then integrated into their automated decisioning algorithm.

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