Sumsub releases fraud prevention starter kit

Sumsub has launched a new Fraud Prevention Starter Kit designed for fast-growing businesses that need to scale their security measures quickly. This is particularly important for retailers and service providers who offer their own financing or handle high-volume digital payments. As you expand your customer base, your risk of exposure to synthetic identities and fraudulent credit applications increases. This new tool uses AI to automate risk decisioning, helping you verify that the person applying for credit is who they say they are without slowing down the checkout process. For operators, this means fewer manual reviews for your back-office team and a lower risk of chargebacks or defaulted loans due to identity theft. The kit is built for companies that might not have a massive dedicated fraud department but need robust protection to satisfy their lending partners or internal compliance requirements. By implementing AI-driven verification, you can maintain a friction-free experience for legitimate customers while blocking bad actors in real-time. This is a critical infrastructure upgrade for any business looking to protect its margins while scaling its consumer financing volume.

Source: Finextra — Lending

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