Application AI by Fraud.net is a real-time application authentication and risk assessment system designed to verify and authenticate various types of digital applications during identity verification and onboarding processes. The system evaluates applications in real-time using AI, machine learning, and deep learning algorithms to authenticate legitimate customers and vendors while detecting fraudulent attempts. It combines proprietary data, third-party vendor data, and artificial intelligence to analyze applications, separating them into high-risk versus high-trust categories. The platform integrates customer data with external data sources to perform risk decisioning and fraud detection, employing device fingerprinting, behavioral fingerprinting, anomaly detection, and network analyses to identify high-risk applications early in the process. The system supports various application types including account openings, loan applications, bank account openings, credit card applications, and merchant/supplier onboarding processes.
