Global data analytics company Experian, launched its ‘Hunter Fraud Score’, a new scoring mechanism that measures the probability of fraud in a credit application across banking and insurance industries.
The new score will help retail finance providers and insurance companies in India significantly increase their efficiency in fraud detection. Businesses will be able to identify applications that should be screened for potential fraud, and prioritise those that have a high probability of being fraudulent. This will enable them to potentially lower their fraud losses and focus on approving applications from genuine customers. Mohan Jayaraman, Country Manager, Experian India, said: “The Hunter Fraud Score is the latest addition to our wide gamut of analytical solutions. With its advanced analytical approach, we hope to work in unison with our clients to set higher benchmarks in the industry whilst lowering their losses.”