Smart lookups are becoming Risk
Chloe Coleman
TL;DR: The name of our smart lookup product is changing, and you can use them to search the Vouchsafe fraud data sharing network for the first time.
Vouchsafe first launched as an inclusive identity verification platform; specialising in verifying people who are tough to verify.
We did this safely by relying on data points that legacy providers usually ignore.
Several years on, we now handle tens of thousands of verifications and millions of data points every day. This has made us the fastest growing verifier in the UK.
The platform has become the default choice to understand member risk in the cooperatives and mutuals sector (especially for credit unions), so much of our data still sits in that traditionally difficult to understand segment.
We have become experts at spotting fraud indicators in this data, especially signs of impersonation and synthetic identities.
Because it is data that we process end-to-end, we can analyse and act on it in real time, free of the 30-60 day reporting cycles of legacy credit bureaus and fraud databases.
For six months now, our customers have been benefitting from these shared fraud signals whenever they run a verification. The riskiest actors are instantly blocked and suspect cases are flagged for further checks.
Now we’re taking a big step toward turning Vouchsafe into a full-fledged real-time fraud data sharing network for AI era threats.
The key is smart lookups.
Our smart lookup product allows you to run quick, instant checks against authoritative databases and see identity risk.
Send us some details and we’ll tell you how well-represented they are in official data held by credit bureaus and governments, and whether there are any fraud indicators.
From now on, these checks will search our own data first, using the power of the entire Vouchsafe network to spot fraudsters and scammers in real time. It gets smarter with every call.
Customers are currently using it for transaction monitoring, spotting things like authorised push payment (APP) fraud and keeping each other safe.
Once you’ve made one call, we can proactively alert you if the risk level rises later, based on detected anomalies or explicit fraud reports from other businesses in the network.
Because this is such an important change, we’re also giving Smart lookups a new name to match. The name will shortly be changed to Risk.
This is the kind of protection we must all move toward in a world of AI-powered fraud – checking risk over time and doing it in real time.
The new Risk functionality is rolling out team by team right now. To learn how regulated firms are using it to make things easier and safer for them and their customers, book a conversation with us.
