Fraud Prevention

Eltropy Fraud Prevention is a comprehensive solution tailored for Credit Unions and Community Banks to proactively detect, prevent, and respond to fraud across all digital channels. It combines multi-factor authentication, secure video verification, real-time alerts, and encrypted communication to protect members while maintaining a seamless user experience. The platform integrates with existing systems and empowers institutions to act swiftly and confidently against fraud threats.

Features

• Multi-Factor Authentication (MFA): Combines OTP via text and Video Verify with KBA and ID checks.
• Video Banking Integration: Enables secure, face-to-face digital interactions without software downloads.
• Real-Time Authentication: Verifies identities instantly, reducing friction and delays.
• Secure Communication Channels: Encrypts all interactions across text, video, chat, and co-browsing.
• Document Exchange: Collect and share sensitive documents securely via texting and e-signature integrations.
• Fraud Alerts & Notifications: Send immediate alerts to members during fraud incidents.
• Audit & Compliance Recording: Record video verification sessions for regulatory and legal purposes.
• Skill-Based Routing (SBR): Connect affected members with the most qualified fraud resolution experts.
• Educational Campaigns: Launch mass texting campaigns to raise fraud awareness among members.

Capabilities

• Remote Identity Verification: Authenticate users without requiring branch visits.
• Real-Time Risk Detection: Integrated APIs identify and mitigate fraud risks instantly.
• Cross-Channel Protection: Secure all member interactions regardless of channel.
• Incident Management: Respond quickly to fraud attempts with proof and escalation workflows.
• Member Guidance: Assist vulnerable members (e.g., elderly) through secure co-browsing.
• Partner Integrations: Connect with Core, CRM, LOS, AOS, and other financial systems.
• Scalable Deployment: Implement across branches, departments, and service channels.

Benefits

• Zero Fraud Incidents: Institutions report complete elimination of impersonation fraud with video verification.
• Faster Authentication: Member verification reduced to 45 seconds.
• Improved Lending Efficiency: Loan approval times cut by up to 95%.
• Higher Engagement: Text-based communication yields 40x higher response rates.
• Increased Account Openings: 60% rise in new accounts via in-branch video.
• Reduced Delinquency: $3.7M drop in delinquency over three months.
• Enhanced Member Trust: Secure, transparent interactions build long-term loyalty.
• Operational Agility: Teams respond faster and more effectively to fraud threats.