Case Study - Financial Institution

About Them

This leading consumer finance company provides personal loans for debt consolidation, home repairs, medical expenses, and more. With over a thousand branches across the United States and annual revenue over $2 billion, the lending company is committed to serving individuals who might not qualify for traditional bank loans.

Their mission is to empower customers with fair or poor credit by offering accessible financial solutions.

“Integrating AtData’s API allowed us to detect risky behavior much more quickly to better decision on escalations or more costly reviews. Ultimately, it’s helping us reduce fraud and unnecessary expenses to protect our customers.”

— VP of Risk Management

The Challenge

This company recognized that staying ahead of fraud meant ensuring every transaction and interaction built confidence in their brand. They needed to dig deeper into their detection processes and refine their approach.

• Proactive Fraud Protection: Fraud poses a growing threat to their financial products, with the potential to harm customers, strain resources, and damage their reputation. They wanted a solution to catch issues before they became bigger problems.
• Pinpointing Risk Sources: The company needed clearer visibility into where irregular activity was originating — whether from in-branch transactions, digital channels, or third-party affiliates.
• Reinforcing Customer Trust: Customers expect lending companies to protect their personal and financial information. The company aimed to safeguard these relationships with robust fraud prevention tools that minimize risk.
• Operational Efficiency: The company required seamless integration with their existing systems to prevent any disruptions to workflows or customer experiences.

The Solution

The company initially partnered with AtData to leverage email activity insights. As fraud grew more sophisticated, they upgraded to AtData’s Fraud Prevention, which was fine-tuned to their use case for greater precision.

• Spot Risky Behavior Early: They could detect red flags before fraud became a bigger problem, saving time and money.
• Customize Their Approach: The system could be adjusted to fit their specific needs, instead of being a one-size-fits-all solution.
• Stop Fraud in Real-Time: Even though they only serve U.S. customers, the API helped them block suspicious activity from overseas, closing a key loophole for fraudsters.

Results & Benefits

The company achieved improvements in their fraud prevention efforts, showcasing the power of AtData’s Fraud API and email validation solutions. These improvements included:

• Confident, Data-Driven Decisions: With actionable insights from the Fraud API and validation tools, the team gained greater confidence in detecting and responding to high-risk behaviors, enabling smarter, faster decisions to mitigate fraud.
• Stronger Fraud Safeguards: By validating email addresses and intercepting fake account sign-ups during registration, the company stopped bad actors from exploiting promotional offers or gaining access to financial products, reducing losses and ensuring better protection for their customers.
• Targeted Fraud Insights: The Fraud API revealed specific sources of fraudulent activity, such as affiliate channels or in-branch transactions, helping the company fine-tune their prevention strategies to tackle fraud at its root causes more effectively.

Conclusion

Partnering with AtData showed just how strong a proactive approach to fraud prevention can be.
By tackling vulnerabilities early and using tailored solutions, the company not only strengthened their security but also earned greater customer trust. It’s a great example of how consumer finance companies can use advanced fraud prevention tools to safeguard both their business and their customers.