To accelerate the onboarding process via mobile app and disbursement of pre-approved line of credit, the financial service provider collaborated with TruSense.
Seamless Onboarding Process Ensured
Accelerated Disbursement of Pre-Approved Line of Credit
Risk of Fraudulent Activities Averted
This financial service provider is the perfect financial ally through banking as a service, which offers profitable and sustainable solutions that alter the value proposition of the consumers.
To provide financial aid to clients who submit credit requests for a pre-approved line of credit.
This financial service provider needed complete visibility of its customers who are applying for a pre-approved line of credit. These requests were initiated by the customers using a mobile banking app. It was difficult for the company to identify the risk involved with the credibility of its customers. The goal was to create ample amount of opportunities in the marketplace where businesses can grow and flourish without incurring losses due to fraudulent activities.
Due to the recent increase in digital fraud, it was challenging for this enterprise to differentiate between an actual customer and a fraudster. This was made possible and hassle-free with the help of TruScore.
The financial service provider raises a query to TruScore by providing details of the mobile number carrying out the enrolment process. This query is raised via API. If TruScore detects that the SIM card was replaced or the number was ported, the company contacts the customer at an alternative number if one was provided during enrollment process. If there was no alternate number provided the enrollment process is cancelled. If the SIM card was not changed and the number was not ported the OTP is sent.
The onboarding process was accelerated with the disbursement of credit to the customer’s account without any further enquiries after collaborating with TruSense to create a seamless onboarding process. The following findings were observed by the institution during the TruSense interaction.
Seamless Onboarding Process Ensured
Accelerated Disbursement of Pre-Approved Line of Credit
Risk of Fraudulent Activities Averted
