FraudChex NAF is a real-time new account fraud prevention solution designed to help financial institutions combat current and emerging fraud schemes. It leverages patented scoring and matching technology, analyzing hundreds of data attributes from over 40 million new account applications. This empowers institutions to proactively review alerts and prevent fraudulent accounts from being created and utilized. The solution's alert management system centralizes fraud mitigation activities, significantly improving investigation efficiency. FraudChex NAF continuously adapts to new fraud variations as they emerge, ensuring ongoing protection. The system enables institutions to stop financial crime by combining real-time account inquiry data with their specific business rules, thereby reducing fraud losses, investigative time, and customer friction. By centralizing identity-related fraud mitigation and providing a searchable interface, it streamlines fraud tracking and analysis, allowing institutions to protect customers without disrupting their experience and gain a competitive edge. The service is provided by ChexSystems, an indirect wholly owned subsidiary of FIS.

Features & Benefits

• Real-time New Account Fraud Detection
  • Leverages patented scoring and matching technology to analyze hundreds of data attributes from over 40 million new account applications, identifying suspicious activity and risky behavior patterns.
• Adaptive Threat Intelligence
  • Continuously adapts to combat current and emerging new account fraud schemes and variations as quickly as they are conceived.
• Centralized Alert Management
  • Provides an alert management system that centralizes fraud mitigation activities, empowering institutions to review alerts proactively and streamline investigations.
• Enhanced Operational Efficiency
  • Reduces fraud losses, minimizes investigative time, and centralizes identity-related fraud mitigation activities through a searchable interface.
• Improved Customer Experience & Competitive Edge
  • Protects customers without disrupting their experience, enabling institutions to gain a competitive advantage while fighting financial crime.