Enacomm Partners with Boku for Fraud Prevention
Enacomm has partnered with Boku to incorporate the Boku identity verification solutions with its own Fraud Control Module (FCM) to help financial services firms reduce fraud and account takeovers.
The Enacomm Fraud Control Module uses customizable fraud indicators to identify, report, and stop suspected fraudsters with rule-based actions. FCM users will now also be able to deploy Boku as an additional layer of security to verify legitimate users and identify likely fraudsters using signals from mobile service providers.
Through its global network of mobile carriers, Boku provides real-time signals to confirm that consumers are whom they say they are. When inconsistent or likely fraudulent phone behavior is detected, Enacomm's customer servicing applications (web, mobile, IVR, and virtual personal assistants) can automatically require further authentication, remove high-risk application options such as funds transfers or PIN changes, and/or route users to fraud queues. Based on mobile identity signals from Boku, FCM users can also create new fraud rules that, when triggered, will prompt the system to perform one or more actions, such as send an email alert to the fraud team with details on the incident.
"A common tactic used by fraudsters is to hijack an accountholder's phone number and use it as proof of identity to access account information," said David Jackson, Enacomm's executive vice president of strategic products, in a statement. "Ensuring that a consumer has both legitimate ownership and possession of their phone number allows us to eliminate this type of fraud."
"Boku uses mobile identity signals to detect and mitigate fraud, wherever it may originate," said Stuart Neal, chief business officer for identity at Boku, in a statement. "Our partnership with Enacomm ensures that their customers can dramatically reduce if not eliminate mobile device-based fraud, which frequently targets the financial services industry."