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Enhancing Fraud Prevention in Payments with Alternative Datasets

Enhancing Fraud Prevention in Payments with Alternative Datasets

Alternate data has emerged as valuable assets in fraud prevention. They provide unique insights and predictive capabilities that traditional data sources may lack. The challenge is when to use which source and what value it adds to the decision-making process. Here is a look at some alternate datasets that we work with:

·   Device Fingerprinting: Analyzing device characteristics such as screen size, browser, platform, font count etc. helps identify devices.

·   Geospatial Data: Geospatial data in the form of customer address, pin code, onboarding city, transaction geocode are all useful indicators of risk.

·   IP Address: IP address also reveal insights on location, ISP, country, dark web which provide insights on risk.

·   Email: Email provider type (corporate vs free service), age of mailbox, age of provider, usage in social media provide insights.

·   Mobile Number: Network / Provider, usage in social media, age of number help gauge authenticity.

·   User Behavior Analytics: Analyzing user behavior, such as keystrokes and mouse movements, can distinguish genuine users from bots.

Alternative datasets increase accuracy of risk assessment, reduce false positives, and enhance ability to detect emerging threats.

By harnessing such diverse datasets, Drona Pay helps enhance risk infrastructure for banks, payment processors, card issuers and neo banks.

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