Andera Unveils FortiFI Fraud Solution
PROVIDENCE, R.I. – Andera Inc., a provider of online consumer acquisition solutions for retail financial institutions, has launched FortiFI, its hosted software solution that it says flags suspicious consumer data patterns in real time to stop online account opening fraud before it is too late.
“Andera’s development of FortiFI marks a new era in fraud prevention, which has historically focused on detecting fraud from existing customer accounts instead of new customer activity,” the company said.
“Sixty-three percent of financial institutions that we surveyed reported one or more instances of fraud, averaging $20,000 and ranging over $100,000,” said Andrea Hunter, product manager. “Early on, FortiFI is preventing 99.5% of online account opening fraud.”