Seon, an anti-fraud software firm used by peer-to-peer lenders such as Robocash, has partnered with Connected Data to improve fraud detection and prevention within debt management.
Budapest-based Seon said the partnership with the data-driven technology firm is a key step to bringing innovation to the way organisations manage their debt portfolios, calling it an “industry first” for debt management.
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Seon, which supports firms across a wide range of industries including AirFrance and Ladbrokes, uses tools that draw on data from across the internet to establish customers’ digital footprints to wean out false accounts and prevent fraudulent transactions from taking place.
By partnering with Connected Data, this real-time technology can now be used for debt prevention.
“The partnership will provide a vital new layer to the debt management process and a stronger indication of how likely a person is to engage through the contact details that a business has for them,” Seon said.
For example, the technology can be used to analyse whether an email address is used across multiple social media platforms, indicating if it is used in day-to-day activity.
And data breaches associated with the email can show that it has been owned for some time and used to register for various services and accounts online.
“The result gives a clearer indication of whether the email address is right for engaging and resolving debt issues or if other contacts routes are needed,” Seon said. “The process is automated, so it quickly and effectively segments those contact channels that are more likely to be the current primary contact channels details for the customer.”
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Kirk Fletcher, chief executive of Connected Data, said that the partnership would enable organisations to engage with their customers better.
“It means organisations can maintain good relationships with those customers and focus their resources where they are needed most,” he added. “It is a simple, but highly effective strategy.”