Fraud prevention refers to proactive strategies and technologies that are used to stop fraudulent activity before it happens. Fraud prevention techniques include identity verification, document verification, biometric authentication, and transaction monitoring, all of which are capable of detecting anomalies in real time. Mitek’s AI-driven solutions strengthen these fraud prevention defenses, proactively stopping threats to prevent financial losses and preserve customer trust.
Use case / examples for fraud prevention:
Biometric verification: Using biometric authentication during the account creation process to block fraudulent account creation.
Liveness detection: Verifying users with document liveness detection to prevent the submission of fake, scanned, or altered IDs for verification.
Behavioral scoring: Scoring logins and transactions in real time with AI and behavioral biometrics to detect anomalies.
Loan origination: Preventing fraudulent loan origination by analyzing document authenticity, liveness and biometric data during application/onboarding.
Related content
How does machine learning help with fraud detection in banks?
Tyson Goings - Verizon | Fraud prevention & channel protection | Innovator Series
Robin Pugh - DarkTower | Fraud prevention | Innovator Series
Mike Wilkins - Turo | Biometrics & fraud prevention
How to answer questions about behavioral biometrics and fraud prevention
