Experian reveals Hunter network to address the rising incidence of fraud in the fintech industry.
FREMONT, CA: These digitally native companies, which range from digital banks, payment processors, and cryptocurrency exchanges to financial institutions and wealth managers, are revolutionizing the financial sector by utilizing reliable data and cutting-edge technology to do more with less.
In addition to using the same technology, cyber criminals promote illegal operations, including fraud, identity theft, money laundering, and more. These thieves use cutting-edge technology, such as machine learning and artificial intelligence, to build elaborate frauds and take advantage of weaknesses in digital systems.
They can also leverage the anonymity of the internet to quickly move money around and hide their tracks.
"Experian is dedicated to the fintech industry and to delivering innovative, data-driven solutions that can help protect them and the consumers they serve from sophisticated fraudsters, said Robert Boxberger, president at Experian Decision Analytics in North America. Our new U.S. Hunter network will harness the power of data and analytics to address real pain points that fintech experiences in combatting fraud. By taking a collaborative approach, fintech can use this additional data to make more informed decisions that enable smart portfolio growth, improve the customer experience, and mitigate major fraud losses."
Experian revealed a fintech-focused version of Experian Hunter, its industry-leading fraud prevention data network. Nine major fintechs have already committed to participating in the new US fintech data network, which will provide businesses and consumers with new levels of fraud protection. With over 450 organizations in 24 countries using Hunter across a wide range of vertical markets, Experian has built a legacy of success in bringing fraud prevention data networks to the market globally. Hunter saves clients over USD 6.5 billion a year across the globe.
