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Kevari Introduces the Kevari Data Network: Truly Unique Data that Supercharges Financial Services Companies' Existing Fraud Controls and Verification Systems
News provided byKevari
Sep 18, 2023, 1:20 PM ET
- The Kevari Data Network has been proven to bolster identity verification and unveil telltale signs of identity fraud.
- Financial services companies can seamlessly integrate precise data and scores into their existing fraud-prevention processes and procedures for pennies per transaction.
MINNEAPOLIS, Sept. 18, 2023 /PRNewswire/ -- Today Kevari, a national leader in helping financial services companies prevent account takeover and new-account fraud, announced the Kevari Data Network, which provides unprecedented access to one-of-a-kind fraud-defense data from the Kevari Fraud Intelligence Platform.
With the development of the Kevari Data Network, financial services companies can now integrate precise data and machine-learning-based scores to elevate the effectiveness of their existing fraud controls and identity verification systems. Fraud-detection rates can be improved by 350% or more in the riskiest 1% of new-account applications, when compared to companies' existing solutions.
"Our customers and prospects asked us to develop a solution that leverages our unique identity data with high fraud signal at an affordable price," said Adam Elliott, CEO, Kevari. "Companies that screen millions of transactions for fraud are always looking for efficiencies in their waterfall, and we want the Kevari Data Network to be their Lake Itasca."
The Kevari Data Network includes:
- Fraud Signals – Highly predictive indicators that allow companies to stop fraudulent activities before they can escalate.
- Velocity Network – Real-time aggregation of new-account inquiries and profile changes from more than 6,500 financial institutions, offering unparalleled insight into the repeated use of credentials.
- Fraud Investigation NetworkSM – Instant access to real-time information from financial institution fraud investigators, focusing on emails, phone numbers, and addresses linked to fraud cases.
- Identity Elements – Comprehensive identity attributes, including addresses, phone numbers, emails, and IP addresses, to create new avenues to establish identity.
- Advanced Machine Learning – Dynamic, precision-driven fraud-scoring system that adjusts to accommodate available inputs, ensuring accuracy and adaptability.
"The right data gives financial services companies added horsepower to stay ahead of evolving fraud schemes," Elliott said. "The Kevari Data Network catches more fraud, cuts losses, and preserves customer relationships – while paying for itself."
New Product Offering. New Board Members.
In addition to its new product offering, the Kevari Data Network, Kevari today announced the addition of two new board members, Gary Walter and Jack Sundstrom.
Walter is well-known in the fraud-fighting industry as the former CEO of Infutor, a prominent identity and behavioral data company that is now part of Verisk. Today he serves as CEO for Skyline Accelerators, LLC., where he focuses on executive accelerations and total business consulting. Sundstrom is an industry veteran in fraud solutions, data strategy, and advanced analytics. In addition to his position on the Kevari Board of Directors, Sundstrom is the company's Chief Product & Marketing Officer.
Kevari is fighting to win the battle against account takeover and new-account fraud. Through its AI-enabled Fraud Intelligence Platform, Kevari gives financial services companies access to identity, velocity, and consortium networks that verify identity-related attributes and assess the likelihood of first-party, third-party, and synthetic identity fraud. For more information, visit www.kevari.com.
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