Email Address Analytics and Fraud Prevention

Taking a multi-layered approach to identity verification and fraud prevention helps organizations eliminate fraud and strengthen relationships with customers. Most enterprises require that a customer provide his or her valid email address when signing up for a new account. However, wouldn’t it be great to know more about that email address and be able to employ that information to help with fighting fraud? By implementing a comprehensive ID verification solution that instantly analyzes a submitted email address for patterns indicative of fraud, organizations can take advantage of advanced email address analytics to gain even more insight into an identity during the verification process. Spotting trends and fraud patterns completely shifts the fraud plan for organizations, from dealing with loss after fraud occurs to preventing it from happening in the first place.

What’s in an Email Address?

Businesses and financial institutions may request an email address from a customer for a variety of reasons. When it comes to preventing fraud, an email address can be used to spot, stop and escalate a possible risky transaction to a higher level of verification if needed. Using an email address that does not exist, comes from a high-risk originating country or if that address has been associated with previous fraudulent transactions are indicators that a fraudster could be trying to gain access to products, services and accounts illegally. By employing more robust email analytics into a fraud prevention program, businesses can gain better insights into a transaction and ultimately make better decisions and reduce fraud.

Email Addresses, Identities and Fraud

By getting an expanded view and verifying an email address in real-time, organizations are able to see red flags and determine whether or not an email is fraudulent. ExpectID Email, a new solution available from IDology, uses a combination of predictive analytics and information on fraud trends to assist businesses with the verification process.

Email address analytics are important for building a comprehensive identity verification system because they can confirm, in real time, the legitimacy of the address. When combined with additional identity factors, organizations are able to gain more decisioning power during the verification process.

How Does the Process Work?

Leveraging email address data and analytics starts by knowing what you are looking for. This is where the rest of your identity verification solution and a collaborative fraud platform come into play. By defining fraud and risk indicators, organizations are able to quickly identify an account or transaction that needs escalation to a higher level of verification. ExpectID Email instantly completes this analysis, which results in a higher rate of validation and onboarding of new accounts, while also reduces friction for legitimate customers.

A customer’s email address can be a predictor of fraud, but it’s also one part of the larger fraud landscape. This is why combining email address analysis with an existing platform complements your fraud prevention plan. The result is a more robust system that automatically works to ensure that John Smith really is John Smith and not a fraudster.

Learn more about enhancing your fraud prevention plan with email address analytics through ExpectID Email by contacting an IDology representative today at (866) 520-1234.

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