GeoFraud adds value at every stage of the customer life cycle, not only influencing lending and credit decisions but also marketing and account management strategies.
Typical uses range from pre-screening mailing lists to determining debt collection policies and refining mailing strategies for high-risk items such as plastic cards and cheque books.
Developed in conjunction with Jaywing, experts in credit fraud and risk modelling, GeoFraud uses a sophisticated blend of geodemographic, lifestyle, credit and actual fraud data to produce a fraud risk score for every postcode in Great Britain.
Jane Crossley from Jaywing adds ‘Fraud is concentrated in certain types of neighbourhood and by overlaying data from a variety of sources we have developed an index which identifies that approximately 80% of fraud comes from 20% of all UK postcodes’.
GeoFraud is easy to implement and doesn’t have to be a bureau-based solution. It can be hosted in the client’s own environment on a simple annual licence fee basis with no transaction charges.
Graham Lund, Callcredit’s product director, said: “The key to GeoFraud is its use of actual fraud data to predict and model frauds. Even though we knew the concept was good, we have been inundated by the feedback from initial client trials on the power these fraud solutions can add.
“Fraud prevention has a significant effect on the bottom line and is therefore high on everybody’s priority list. At Callcredit we are committing considerable resources to developing a range of anti-fraud solutions. GeoFraud is one of a number of projects we are currently working on in partnership with Jaywing.
Further information is available on GeoFraud by contacting Callcredit on 0113 244 1555.
