Optimus Application Risk

Stop risk at the first stage of customer acquisition - Immediate risk assessment of your new customers

Bad debt and fraud can have a considerable impact on bottom-line profits. The Optimus Application Risk Management (Originations) solution enables you to identify high-risk applicants at the application/subscription stage before they have been provisioned or received services.

Our Application Risk solution provides a secure, rapid and accurate assessment of all new applications for services/products such as credit cards, unsecured loans and subsidised telecommunications products. It interfaces with internal data sources, including historic fraud and bad debt lists and external data sources such as credit bureaus and verification sites, to perform automatic credit/fraud decision making instantaneously, to align directly to your organisation’s appetite for risk.

Optimus Application Risk allows business processes to be configured and adapted to align to your risk objectives as they change or if you introduce new services that may require different risk parameters.  The flexibility ensures that policy rules can also be optimally configured to minimise third party costs from needlessly communicating with external credit bureaus when the application does not necessitate it. The product has its own configurable web application form or, alternatively, Optimus can integrate with your own Point of Sale infrastructure. Other features include capability to deploy traditional and neural analytic models to provide applicants with a risk score and link analysis to identify repeat or similar applicants. As well as automated application processes with configurable business and policy rules deferred cases, there is an inherent full audit trail which provides capability to attach documentation and supporting information to support the investigation process via the graphical user interface where application information is presented with supporting information to allow the analyst to make an informed decision.

Optimus Application Risk is one of the many components that allows for end to end risk management on one platform to provide complete visibility of risk throughout the customer lifecycle.

Key benefits:

  • Fast, accurate application decisions
  • Consistent decisions across all channels and lines of business
  • Supports regulatory compliance such as Basel II, OFAC and the Patriot Act (Know Your Customer)
  • Incorporates champion-challenger or control groups into the decision process
  • Highly scalable to support small to large application throughput

Features:

  • Sets appropriate acceptance criteria e.g. requesting deposit
  • Accessible over the internet or by third party sources, such as machine-to-machine interfaces
  • Flexible rule and workflow process for assessing applications
  • Comprehensive audit trail of user and system actions
  • Can be deployed on-site or as a SaaS solution

Why do you need this?

Stopping fraudulent or potential bad risk applications before they have opportunity to utilise services and erode profitability is crucial.  Having robust, timely risk controls provide confidence that any services offered will have minimal risk exposure as well as provide the capability to improve acceptance rates that may have historically been declined. Having an automated risk management solution in place means that applications from point of sale, telephone and web can be analysed and appropriate decisions can be made quickly without impacting the customer provisioning process. Deferred cases can be directed for manual review, further verification or offered appropriate services and products according to their risk profile, reducing declines and maximising revenue.

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