Fideo Intelligence has launched Verify, a real-time, AI-powered identity intelligence and fraud prevention service, developed to detect fraudulent activities more effectively.
Following this announcement, Fideo Verify was developed in order to deliver a real-time, dynamic risk score unified by eight categories of verification checks, each designed to be backed by multiple identity signals.
In addition, the single comprehensive API and risk score will learn from Fideo’s Identity Fraud Intelligence (iFIN) Network, in order to offer a comprehensive, 360-degree view of identity risk delivered in a fast and secure manner. The company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Fideo Intelligence’s Verify launch
According to the official press release, Verify was designed to replace siloed point solutions with a single API backed by full-spectrum intelligence. The product’s eight categories of fraud detection include synthetic identity detection and identity graph validation, email risk modeling, phone risk analysis, and IP address checks, as well as digital footprint analysis, location anomaly detection, and breach exposure analysis. At the same time, with each verification point streamlined into one API call, it will also eliminate redundancies and close critical, costly gaps that fraudsters exploit.
In addition, Verify’s full verification suite comes with simple and unprecedented pricing, one flat rate per user session for unlimited verification calls. This process aims to make optimised identity intelligence accessible and scalable for financial institutions of all sizes, including fintechs, credit unions, as well as community banks, and non-traditional lenders.
Potential risks identified during early screening are ranked, allowing fraud and risk teams to quickly and efficiently decide whether to escalate cases to optimised compliance checks or reject users outright, eliminating unnecessary KYC expenses. This proactive approach was developed in order to streamline onboarding for legitimate customers but also ensures resources are focused on the highest-risk cases, maximising both process efficiency and fraud prevention.
Furthermore, financial institutions can access the full suite or take a modular approach, as the platform is configurable for each organisation’s specific needs. This process aims to strengthen identity defenses with a composition-based fraud risk score that optimises the manner in which firms stop bad actors before they gain access, without adding unnecessary friction for trusted users.
