We made credit applications frictionless for digital lender Smartney

Smartney is a digital lending company owned by the French Oney Bank Group. Smartney’s clients appreciate fast and frictionless consumer credit applications that can be submitted via desktop and mobile channels. Smartney uses our solution to reduce the number of frauds in two main areas: identity fraud and investment fraud.

Based on constant feedback and fraud reports from the client, we constantly improved the performance of antifraud models on Smartney's traffic. The key metrics - precision and recall, were enhanced by over 10p.p. each in less than a year of cooperation. That resulted in better identification of fraudsters and releasing sales potential with a higher acceptance of high-quality customers, even though a new type of fraud appeared, which had not previously occurred with this client. To answer Smartney's needs, we engineered open port detection, and a dedicated Data Scientist extracted features based on a person's place of residence and postal codes geolocalization.

We proposed a proprietary ML model, which has been extracting over 5,000 attributes about each Smarney customer–fingerprinting their device, using remote desktop protocols, or checking their behavior to spot any repetitive patterns and abnormalities that may imply fraud. The connection graphs in the Nethone panel helped Smartney visualize and understand how fraudsters operate–their habits and behaviors. That resulted in 3 times higher fraud detection for applications marked by us than for apps not verified by our signals.

Models are constantly refined and modified by a dedicated Data Scientist based on the acquired knowledge and close cooperation with the client. And in case of any fraud attack, Nethone can quickly intervene by adapting logic to block fraudulent activity.