Protect your organization from document fraud

Mitigate risks, improve compliance, and avoid financial losses with AI-powered document fraud detection.

The financial impact of document fraud

Digitizing your business operations brings numerous improvements, including increased efficiency and improved data management. But it also comes with significant risks: the low barrier to document forgery and fraudulent transactions. These transactions cost organizations across the world an estimated 5% of their annual revenues, amounting to $5 trillion. The banking and financial services sectors are the most attractive industries to criminals and fraudsters, closely followed by insurance, healthcare, and government organizations. To protect their profits, reputation, and customers, organizations are tasked with increasing their investments in preventative resources to meticulously review and check incoming documents.

Organizations face significant challenges with fraud detection

Inefficient and expensive manual verification Manually reviewing incoming documents is a slow and error-prone process. It requires significant employee resources, but delivers relatively low detection rates due to the sophisticated tampering methods criminals use. AI-based solutions provide instant results with higher accuracy and lower cost. Mix of document types, formats, and quality Business documents often come in a range of file formats, document types, and levels of quality (including PDFs, scans and photos). Sorting through unclassified documents often proves challenging for fraud detection solutions. Organizing and normalizing incoming documents and data prior to feeding them into a specialized fraud detection solution increases success rates. Incomplete fraud detection solutions Implementing simplistic fraud detection solutions that focus only on detecting image manipulation misses the enormous opportunity that the data contained in the document provides. Combining checks for image manipulation with rule-based data cross-checks is a more powerful and accurate way to detect fraudulent documents. Constantly evolving fraud landscape It’s easier than ever for criminals to access fraudulent document templates. As modern technologies and AI mature, it’s becoming more challenging for organizations to differentiate these templates from genuine documents. Purpose-built AI solutions intelligently learn and detect the latest fraudulent techniques, making them the only feasible and future-proof approach for successful fraud detection.

Safeguard your critical business processes with best-in-class fraud detection technologies

Account registration and onboarding

Prevent fraudulent access to bank services by identifying identity theft, invalid identity documents, and altered proof of address or utility bills.

Mortgage and consumer lending

Protect and secure your lending approval process by spotting false statements, misrepresentations, forged identity documents, or modified content.

Insurance claim processing

Identify and prevent fraudulent claims by detecting falsified vendors, altered invoices, untrustworthy sources, or duplicated documents.

Benefits enrollment

Ensure benefits are only given to those who are eligible by avoiding duplicate proof of income, falsified eligibility documents, or altered proof of identity, address, and residency.

Payments

Secure the transfer of funds by catching duplicate invoices, modified payment terms, edited payment requests, or non-compliant vendors.

Prevent fraud with best-in-class, AI-based intelligent document processing and fraud detection

Risk mitigation and compliance

Reduced risk of financial losses and confidence in compliance with imposed regulations.

Protection from financial losses

Minimize the risk of financial burden and penalties due to falsified documents.

Preserved reputation and customer trust

Avoid negative exposure and reputational damage to preserve your customers’ trust.

Streamlined operations

Full coverage of incoming documents in real time with fewer resources and investment required.