Synectics partners with Kount for fraud detection with even less friction

Synectics Solutions has partnered with Kount, an Equifax Company, to bolster its identity and fraud prevention solutions - helping financial service providers consolidate unnecessary data silos, drive cost-savings and optimize end-customer experience (CX). 

Synectics’ National SIRA, a syndicated database of cross sector customer risk intelligence, is utilised by leading banks and insurers as the digital basis of their fraud prevention protocols. Using more than a third of a billion records that relate to potential fraud and financial crime, it has helped its members to identify and prevent over £5bn of potential fraud and error.

The new partnership means SIRA users will now also be able to benefit from Kount’s ‘trust score’ verification technology as part of their platform.

Kount’s technology collects end-customer data such as email information, location and device ID, at the point of online interaction e.g., account set up, login, or when entering payment information. AI and machine learning is then used to compare this info in real time to billions of data points across a global network, in order to produce an interaction a risk score.

Consolidating the benefits of Kount’s solutions with National SIRA’s capabilities will deliver a streamlined solution for fast, accurate fraud checks and rapid decision making. Reducing unnecessary admin time and associated costs, risk of financial loss, while also improving end-customer journeys.

Ali Johnson, Synectics Solutions Head of Partnerships, said: “Our focus as a business is on providing powerful and innovative solutions that get straight to the point. It’s also on seeking out partnerships that help us do that. Giving our customers the ability to access Kount technology via SIRA and integrate it as part of a consolidated fraud prevention platform, is therefore a hugely exciting prospect for us. As we believe it will be for our customers.”

To learn more about how SIRA and Kount, get in touch.