The fraud fighters power Connected Data in unique approach to preventing and reducing debt
SEON, the fraud fighters, today announces it has partnered with data driven technology company, Connected Data, to introduce data and techniques successfully used in fraud detection and prevention, to the debt management process – an industry first.
This strategic partnership is a key step to bringing innovation to the way organisations manage their debt portfolios. SEON’s approach to fraud prevention includes tools that draw on data from across the internet to establish customers’ digital footprints to wean out false accounts and prevent fraudulent transactions from taking place. SEON already supports companies from a wide range of industries, including Patreon, AirFrance, Rivalry, Ladbrokes by having its technology operate in real time, with no stale data and zero false positives, a paradigm shift from previous proprietary databases to true real time fraud prevention.
Connected Data has successfully pivoted this approach to fraud prevention into debt prevention. The partnership will provide a vital new layer to the debt management process and a stronger indication of how likely a person is to engage through the contact details that a business has for them. For example, an email address’ use across multiple social media platforms indicates it is used in day-to-day activity, while data breaches associated with the email indicate that it has been owned for some time and used to register for various services and accounts online.
The result gives a clearer indication of whether the email address is right for engaging and resolving debt issues or if other contacts routes are needed. The process is automated, so it quickly and effectively segments those contact channels that are more likely to be the current primary contact channels details for the customer.
Jimmy Fong, Chief Commercial Officer at SEON, said: “We are thrilled to partner and power Connected Data in such a unique way. Our success in the fraud fighting space has grown rapidly as we knew we could offer a more effective, affordable, flexible, intuitive solution that clearly proves its ROI. Connected Data is a like-minded company that is doing the same with debt prevention and this synergy will work perfectly to help improve the way organisations manage their debt portfolios. Together we know that our partnership will have a strong impact in fighting fraud and reducing debt across the globe.”
Kirk Fletcher, CEO of Connected Data,said: “This is a great example of how Connected Data blends different datasets to achieve fairer and more positive outcomes. Quite rightly the prevention of fraud is a major focus for our customers. Through our partnership with SEON, we are deploying the same impact into debt prevention – a business process that merits equal focus across any organisation. Organisations need to be able to not only reach their customers but engage with them through the most effective contact channels. Having valid, relevant, contact details is essential to this and our unique partnership with SEON is making it possible. It means organisations can maintain good relationships with those customers and focus their resources where they are needed most. It is a simple, but highly effective strategy.”