98%
Of applicant form
information pre-filled
For almost 20 years, fiVISION’s mission has been to make the fully customizable account opening process effortless for credit unions, banks, their members, and customers.
However, the rise in fraudulent activity, around account openings, posed a threat to fiVISION’s clients. They needed a solution that could successfully and efficiently filter out bad actors while still allowing legitimate individuals to quickly and accurately open accounts.
Driving efficiencies to the onboarding process
That’s when fiVISION turned to Prove as a fraud mitigation tool that could also bring efficiencies to the onboarding process for its clients. After integrating Prove Pre-Fill®, a large fiVISION client was able to deter an onslaught of fraud in its account opening process within just a few short days. Other fiVISION clients also experienced a similar reduction in fraudulent applications, leading to improved processing efficiencies with a decrease in the need for human intervention to manually review those applications.
“Prove demonstrated a higher percentage rate for pre-filled application data. We were looking for a fraud tool that would also bring efficiencies and Prove had the best metrics,”
Heather Stoner,
Fraud SME at fiVISION.
Embracing genuine customers while minimizing fraudulent activity
By leveraging Prove Pre-Fill®, fiVISION has supported its clients by minimizing fraudulent account opening activity while still allowing desired customers to open accounts rapidly and without added friction. Using Prove Pre-Fill® to pre-populate forms with verified identity information made the digital onboarding process fast and seamless, resulting in reduced form abandonment. Prove's robust identity verification and fraud detection features allow fiVISION to continue its mission of delivering secure, efficient, and seamless experiences for credit unions, banks and their customers and members, while simultaneously safeguarding them from the constant threat of fraudulent attacks and activities.
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