Clarity Services introduces its newest solution specially designed to predict “intent not to pay” fraud for customer-not-present transactions, Clear Fraud for Online Installment. Available now, the new product offers a powerful score whose performance has shown to more accurately assess online loan application risk.
“The online installment market faces unique challenges because consumers can literally be located anywhere,” said Tim Ranney, CEO and President of Clarity Services. “We’ve augmented the fraud score with specialized attributes that take a fresh approach to detecting deceptive online applicant activity.”
Developed with more up-to-date online installment data, this FCRA-actionable product and score closer relation to the present-day online installment and single payment lending environment.
“After testing, the new Clear Fraud score for online installment lending outperforms the original Clear Fraud score when it comes to online transactions,” said Christine Leddy, Clarity’s Vice President of Analytics.
First introduced four years ago, its predecessor, Clear Fraud, has proven extremely effective for a variety of lenders such as storefront, rent-to-own companies, and other organizations. Clear Fraud for Online Installment intends to be an equally trusted solution for the customer-not-present environment.
For more information about the new fraud score and how it can protect your profits, contact us at 727-400-4637.
