Eliminate and Control Fraud with PDL Data on AWS Data Exchange | Webinar Recap
August 23, 2022
As a rapidly increasing amount of economic activities shift to digital platforms, from banking and lending to healthcare and public services, the ability to verify, understand, and contextualize identity is crucial.
That’s why People Data Labs and Amazon Web Services (AWS)came together to host thisexploring some of the ways our data within the AWS Data Exchange powers critical use cases and accelerates products and processes fintech providers need to solve the identity challenge and manage customer risk.
Just consider the meteoric rise of digital financial services in recent years; a trajectory that was only accelerated by the COVID-19 pandemic. Financial products, from payments and cash advances to mortgage lending and investment products, are all available to any consumer without ever setting foot in a bank. That’s a major boon to customer convenience and accessibility, but also a major challenge for fintech providers who need to concretely establish their customers’ identity.
For retail banks, identity verification used to be as simple as collecting a driver’s license and ensuring the photo matched the person sitting in front of you. For next-gen fintechs, the risks (and rewards) are greater, so the solutions need to be more creative.
If fintech is going to continue on its upward growth trajectory both in scale and variety of services, then there’s one big thing that matters: speed to verification. Confidently verified identities established with ease and speed will enable whole ecosystems of providers to deliver critical services in an efficient, compliant, low-risk way that protects institutions and end-users.
Now, PDL and AWS are equipped and dedicated to help fintech innovators eliminate risk and control fraud to bring about the next generation of digital financial services for individual consumers and businesses.
If you’d like to explore topics from our first webinar covering talent acquisition and HRTech with AWS,.
During this webinar, we received many questions asking about the refresh rate of our data. (The answer is!) This is not surprising because the best way to stay ahead of fraudsters is to have accurate, up-to-date data. We are happy to be in a position to easily help and improve the functionality of the fintech industry at large.
We were also pleasantly engaged with conversation around PDL’s various attributes for use in fraud and risk mitigation. As PDL customers know, there are a multitude of attributes to pick and choose from within our huge repertoire of professional data. It all depends on the use case.
What’s top of mind for many professionals in the fraud space are, i.e., composite identities created by merging various stolen data points with inauthentic contact information to build a fraudulent person record.
Let’s say a banking institution wants to catch more fraudulent signups. They can use our PII attributes, i.e., data such as phone numbers, emails, and other contact information. This information can be combined with context-adding values, like how many sources certain data points appeared and/or the last time those data points were added to an active profile to help spot and investigate suspicious claims and applicants. They can also use ourto investigate if it even makes sense for various data points to be tied together
Almost all of our B2B data fields can be applied in a fraud mitigation context. Person fields such as inferred salary or company fields such as inferred revenue or headcount growth are simple pieces of information that have a huge impact on fintech products aimed at business transactions.
Discover more byof the webinar if this piques your interest!
How B2B data enrichment can help fintech providers to mitigate risk and detect fraud
How to accelerate manual review & investigations using PDL’s Identify API
How alternative data sources can reduce credit risk by guiding product recommendations and informing ability to repay
How next-generation fintech providers can easily access and combine alternative data sources through the AWS Data Exchange
Also, we encourage you toand to try it out for yourself.
You can find us on the AWS Data Exchange marketplace.
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