Onboard Advisor  image

Onboard Advisor

With Early Warning

Fiserv leverages Early Warning’s Shared Fraud & Account Abuse services within the Onboard Advisor solution.

Meta information

Requirements

Abiliti, Aperio, Business Process Manager, Connected Teller, Deposit Essentials, Deposit Director Flex, New Accounts for Cleartouch, Retail Online or SecureNow

Category

Risk

Highlights

  • Improve account opening decisions

    Use bank-contributed intelligence to inform account opening decisions and protect against fraud.

  • Tailor account privileges

    Understand past banking behavior like account mismanagement to help foster financial inclusion while managing risk threshold.

  • Confirm account status and owner

    Identify open/valid accounts and high-risk deposits at the point of transaction. Validate who can transact on an account.

  • Expedite funds availability

    Reduce unnecessary holds to provide a positive customer experience.

Overview

Fiserv leverages two solutions from Early Warning – Shared Fraud & Account Abuse services and Account Owner Authentication (AOA) – as part of Onboard Advisor.

Shared Fraud & Account Abuse

Shared Fraud & Account Abuse services allow financial institution to expand their customer base with confidence. They can determine if the person applying for an account has a history of fraud or account mismanagement at any of the thousands of financial institutions that contribute data to Early Warning.

Early Warning has over thirty years of experience and leverages the deepest set of deposit performance data available in the industry – not credit performance data – so financial institutions can make informed account opening decisions or tailor privileges to manage their institution’s risk thresholds.

Shared Fraud & Account Abuse services allow users of Onboard Advisor to make informed decisions by answering the following questions:
• Has the person committed fraud in the past?*
• Has the person mismanaged their account in the past?*
(*As contributed to Early Warning by over 2,500 financial institution customers per Early Warning's Operating Rules)

Account Owner Authentication (AOA)

As new accounts are opened online and funded with funds from an external account, AOA validates that the external account is owned by the customer requesting this payment or deposit transaction. Identity-to-account matching is performed via AOA functionality.

The Payment or Deposit Chek® Service with AOA answers the following questions:
• Does the account exist?
• What is the account’s associated risk?
• What is the likelihood of the item being returned?
• Is the person authorized to transact on this account?

AOA enables financial institutions to confirm the account owner or authorized user(s) by inquiring against identity elements contributed by other financial institutions. Identity elements include account owner identity and authorized user identity.