Touch Bank is used by FraudNet for protection of electronic services against fraud

Touch Bank, digital-bank of the European financial group OTP, started at the end of 2016 a pilot project on protection of users of electronic services against fraud – the solution FraudNet of Experian company.

FraudNet from Experian is a scalable solution for prevention fraud online. The complex FraudNet platform identifies malefactors who open counterfeit accounts, crack accounts of the acting clients or carry out fraudulent online transactions. FraudNet helps to minimize a fraud risk and losses through recognition of users of electronic services and tracking of their actions. Thus, FraudNet allows to increase seriously safety of process of submission of online statements and service of transactions.

Touch Bank uses FraudNet for the analysis of the new credit requests completed online.

Guseev Konstantin, the Director of risks of Touch Bank noted: "All services and the products Touch Bank work online in real time and are available remotely. It is important to us to use the best of existing solutions for protection of our clients against fraud. The Russian market of banking services has a number of features, in particular, we are famous for domestic hackers and hi-tech fraud. It is one of the reasons of implementation of a pilot project with Experian, now we roll the solution FraudNet, using it for processing of all online requests for opening of credit lines. The technology allows us to identify the device which was used when filling the questionnaire with high probability, to compare it to "black list" and to estimate as far as this device corresponds to a profile of the potential client".

Butychin Alexey, the Director of the Operational Center Experian in Russia and the CIS countries, said: 'Online fraud grows all at the accelerating rates. The FraudNet service is urged to identify swindlers who aim to forge increasing number of the transactions made via the Internet, beginning from submission of the credit request, before capture of account management and theft of personal data. A task of FraudNet is collecting and information analysis about the electronic device from which the client, and about characteristics of communication session works. The solution FraudNet is used by the leading industry giants around the world, such as JD.com, company of direct Internet sales, the owner of the market share, largest in China, on the volume of transactions, and Alitalia, the largest Italian airline. Cooperation with Touch Bank is very important for Experian, and we are glad that the bank putting a priority work in the field of digital customer service became interested in our solution".