Zoot’s fraud detection platform

Lenders face a complex problem when it comes to effective fraud detection – agile fraudsters, fragmented detection solutions, and high costs of losses and operational staff. Zoot simplifies the problem with its SaaS fraud detection solution built into origination or customer management.

It is unlikely that a single fraud service or data source will deal with all of the potential occurrences of fraud, particularly with fast moving criminals always looking for new schemes. By combatting these with a fraud detection solution capable of accessing multiple fraud services, with the agility to integrate new services quickly as new threats arise, Zoot will provide comprehensive coverage with the ability to manage cost in line with risk and revenue.

The right solution can deliver huge benefits across the business. Zoot has transformed the industry standard – basic stand-alone detection – to one of enterprise predictive risk assessment through the integration of multiple fraud data sources, AI fraud detection and real-time functionality.

Solution Brochure
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Our anti-fraud solution helps you:

  • Integrate fraud detection tools and methods quickly
  • Access all the latest technologies such as AI fraud detection
  • Use your own data to spot fraudulent activity
  • Optimise costs of a fraud detection system
  • Obtain an integrated view of all fraud activity to exploit hidden trends and relationships
  • Identify fraud events and prevent losses through real-time monitoring

We can identify red flags fairly easily and spit those applications out for a second look, a harder look, to help us in our effort to reduce losses.

Product Manager
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    Use fraud detection service to outsmart fraudsters

    As fraudsters adapt to escape detection systems, fraud tactics continue to evolve. To overcome the limits of traditional monitoring systems and investigative teams in the battle against fraud, you’ll need a situational perspective. You will obtain a larger picture of fraud detection with our solution, allowing you to configure your systems to differentiate between legal and fraudulent activity more efficiently.

    Dealing with multiple fraud threats

    Fraud encompasses different types of threat, each of which needs a specific fraud detection tool to deal with it. The threats range from unsophisticated individuals trying to game the lending process to organised crime systematically testing lenders’ defences.

    At the level of the individual lender, checking for duplicate applications by implementing velocity rules will filter out cases that should not proceed and incur further costs from manual intervention or unnecessary bureau searches. Beyond that data and services which aggregate experience across the lending community need to be integrated into your processes as efficiently as possible. Anti-fraud solutions on offer include alerts against the individual applicant, identity theft notification, device compromise, transaction analysis and more. As new threats develop, the speed with which you are able to build in countermeasures determines how quickly you can reduce your fraud losses.

    Improve fraud detection and prevention

    With sophisticated fraud techniques, companies need to detect fraud faster and more efficiently. Fraud detection platforms must be able to scale to handle increasing transaction volumes, detect advanced fraud patterns, and eliminate false positives.

    A robust and cost-effective service for detecting fraud is created by combining services employing predictive analytics, and business process management. It ensures a better user journey and customer satisfaction. Investigators can work on more cases with better efficiency and focus on higher-value networks and high-risk alerts with the time saved.

    Detect fraud with high precision and avoid losses

    Reduce fraud losses, improve operational efficiency, and increase income using our financial fraud detection solution. To reduce fraud losses, it automatically detects suspicious activities. You get a comprehensive perspective of fraud risk after receiving all associated data and information. As a result, you can avoid significant losses. With our fraud detection solution, you can continuously improve your access to data and models and adjust the system to keep up with fraud trends.

    Zoot’s anti-fraud service advantages

    • More fraud cases will be identified, and losses will be reduced.
    • False positives will be minimised to allow investigators to focus on high-risk concerns.
    • Eliminate non-fraudulent events to reduce investigation time.
    • Using numerous databases and real-time information ensures a faster incident resolution.
    • Ensure real-time transaction scoring, which raises fraud flags and speeds up the inquiry.

    Our financial fraud detection services cover personal fraud, anti-money laundering, transaction monitoring and more. Our solution allows you to counter new fraud techniques and stay ahead of criminal strategies. With this modern scalable solution that adapts to your company’s specific business demands, you can future-proof your whole fraud detection and prevention approach.

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