## Experian‘s Hunter: A Solution to Combat Sophisticated Fraud
Experian, the world’s leading global information services company, has introduced a new fintech-focused version of their fraud prevention data network, Hunter, to the United States. The move comes at a time when there has been an increase in fraud across the fintech industry. Hunter is a collaborative data network that enables participants to have a line of sight into borrower activity across the fintech industry to match potential fraud risk.
As fintechs establish new customer relationships or verify existing ones, they can inquire against the network and are alerted to suspicious information when matched to other observed fraud events. Fintechs can then take appropriate action based on the type of fraud risk identified. Experian‘s clients will be able to rapidly identify and prevent fraud, leading to improved customer experience, reduced false-positive referrals, and optimized fraud decision strategies.
## Hunter’s Success
Hunter is already used by more than 450 organizations in 24 different countries today across a variety of vertical markets. Across the globe, Hunter saves clients over $6.5 billion annually, which serves as a testament to its effectiveness. On average, clients see a 35% uplift in fraud detection when participating in a Hunter network.
## Protecting Fintechs and Consumers
“Experian is dedicated to the fintech industry and to delivering innovative, data-driven solutions that can help protect them and the consumers they serve from sophisticated fraudsters,” said Robert Boxberger, president at Experian Decision Analytics in North America. The new US fintech data network has participation commitments from nine leading fintech firms. It is designed to bring a new level of protection to businesses and consumers from fraud.
By taking a collaborative approach, fintechs can use this additional data to make more informed decisions that enable smart portfolio growth, improve the customer experience, and mitigate major fraud losses.
## Conclusion
In conclusion, Hunter is a powerful data network that has the potential to revolutionize the way the fintech industry handles fraud detection and prevention. With the rise of sophisticated fraudsters across the industry, it is becoming increasingly vital to have tools like Hunter that are proven to be effective. This new version of the data network is a significant step forward in protecting both fintech firms and consumers and ensuring their safety in an increasingly digital world.
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