Robocash’s Fraud Challenges
We are proud to provide loans to unbanked and underbanked markets, however, it usually means extra vigilance and costly manual reviews as we cannot always access valid credit information.
Robocash is no stranger to fraudsters who use synthetic IDs to open borrower accounts. But their latest challenge was in creating an efficient digital credit check. The company operates in notoriously risky markets, and the lack of valid data often makes it difficult to trust borrowers.
“We are proud to provide loans to unbanked and underbanked markets,” says Alexey Pogrebnyak, Robocash’s Chief Risk Officer for the APAC region. “However, it usually means extra vigilance and costly manual reviews as we cannot always access valid credit information”.
This was particularly true of phone numbers and email addresses, which required manual validation by the risk team. “We had to check telephone numbers directly with the telecom operators,” Alexey says. “Or we had to ring customers ourselves, and use other services, none of which were fast or automated enough for our large scale operations.”
SEON Integrates Smoothly, Provides Valuable ROI
Our company is always looking for solutions to optimize costs, and using SEON was more economically feasible in comparison with other services.
Alexey and his team clearly needed a solution to automate manual reviews dealing with phone numbers and email addresses. But it also had to be cost-effective, which is why they settled on SEON’s lightweight email and phone analysis modules.
“Our company is always looking for solutions to optimize costs,” says Alexey. “We are constantly testing new services, and in this regard, SEON was more economically feasible in comparison with other services.”
After calculating their potential ROI, it was time to deploy the tools on top of their current fraud detection systems, via API. “Negotiations and implementation were extremely successful,” Alexey says. “The API documentation is clear, and the SEON team quickly answered all our questions, providing excellent support with any of our issues.”