Using Machine Learning to Predict Fraud

The Vestigo team recently worked with an ambitious lender looking to harness the power of machine learning to help predict potential fraud.

Building an innovative fraud model and developing a bespoke strategy off the back of it allowed the client to continue to scale up application volumes without placing their underwriting and fraud teams under excessive pressure.

The new fraud model successfully reduced the number of applications being referred due to possible fraud, making use of advanced modelling methods and a wide range of data sources. The robust model will help our client to leverage the full value of multiple new data sources and the latest modelling techniques. As well as demonstrating the business’ continued innovation in their acquisition processes, the new model and strategy will ensure the lender can continue to grow rapidly without overwhelming their underwriting teams.

For more information on this project, read our case study.