Fraud Detection (Zest Protect)

Zest AI’s Fraud Detection solution, known as Zest Protect, is an advanced AI-powered platform designed to identify and prevent application fraud during the loan origination process. It enables financial institutions to detect first-party, third-party, synthetic identity, and income misrepresentation fraud with high accuracy, while maintaining a seamless borrower experience. The system integrates directly into lending workflows, offering real-time decisioning and customizable risk controls.

Features

• Real-Time Fraud Detection: Instantly flags fraudulent applications during loan decisioning.
• Customizable Risk Thresholds: Adjust detection sensitivity based on fraud type and business objectives.
• Granular Risk Ranking: Prioritize cases with detailed fraud scoring and reason codes.
• Identity Verification: Cross-checks applicant PII and behavioral data to confirm authenticity.
• Income Validation: Detects inconsistencies between reported and actual income data.
• Seamless Integration: Embedded into loan origination systems for frictionless automation.
• Consortium Data Access: Leverages shared intelligence across institutions to improve detection.

Capabilities

• First-Party Fraud Detection: Identifies borrowers with malicious intent, such as bust-out or straight-roller schemes.
• Third-Party & Synthetic Fraud Detection: Flags stolen or fabricated identities used in applications.
• Behavioral Analysis: Uses AI to detect patterns indicative of fraud across multiple data points.
• Automated Decisioning: Enables instant loan decisions with fraud checks built into the workflow.
• Portfolio-Level Insights: Monitors fraud trends across regions, products, and borrower segments.
• Scalable Configuration: Tailors fraud detection to institution size, risk appetite, and operational needs.

Benefits

• Reduced Fraud Losses: Minimizes financial impact through early and accurate detection.
• Improved Efficiency: Automates fraud review without slowing down the application process.
• Enhanced Borrower Experience: Maintains fast, frictionless lending while protecting against fraud.
• Operational Control: Gives institutions full visibility and control over fraud detection parameters.
• Future-Proof Security: Adapts to emerging fraud tactics, including AI-generated threats.
• Compliance Support: Helps meet regulatory standards for fraud prevention and identity verification.