The decision to develop Silent Onboarding was driven by the significant rise in identity fraud, which grew to nearly $23 billion in losses last year. This trend is being fuelled by synthetic identity fraud, necessitating a more robust approach to fraud prevention when onboarding customers.
Trustfull operates industry-leading digital risk management, providing cutting-edge tools to identify and obstruct financial crime and fraud. Trustfull’s solutions help businesses secure their digital and financial transactions through entire customer lifecycles.
Silent Onboarding leverages sophisticated systems of passive identity checks that pre-screen potential customers using a variety of digital signals. This approach seamlessly integrates into account opening processes, ensuring users do not have an obstructed experience whilst also still effectively identifying and blocking fraudulent activities.
Some of Silent Onboarding’s special features include a user-friendly digital risk intelligence platform, an advanced identity graph to track suspicious user connections, and no-code rule engines which allow businesses to customise and explain risk models. These features are designed to provide businesses with in-depth insights which they can harness to adapt their risk strategies.
Some of Trustfull’s major industry players include Nexi, Twilio, Refinitiv, and Banca Sella, among others. These partnerships highlight Trustfull’s credibility and the effectiveness of its solutions in managing digital risk and preventing financial crime.
Marko Maras, (pictured), CEO of Trustfull, commented: “At Trustfull, we’re committed to empowering businesses with robust fraud prevention solutions. Silent Onboarding is our contribution to the fight against synthetic identity fraud, acting as a first line of defence for all digital sign-ups.”
Source: Fintech Finance
