CLEARWATER, Fla.--(BUSINESS WIRE)--Clarity Services introduces its newest solution specially designed to predict “intent not to pay” fraud for customer-not-present transactions, Clear Fraud for Online Installment. Available now, the new product offers a powerful score whose performance has shown to more accurately assess online loan application risk.
“The online installment market faces unique challenges because consumers can literally be located anywhere,” said Tim Ranney, CEO and President of Clarity Services. “We’ve augmented the fraud score with specialized attributes that take a fresh approach to detecting deceptive online applicant activity.”
Developed with more up-to-date online installment data, this FCRA-actionable product and score closer relate to the present-day online installment and single payment lending environment.
“After testing, the new Clear Fraud score for online installment lending outperforms the original Clear Fraud score when it comes to online transactions,” said Christine Leddy, Clarity’s Vice President of Analytics.
First introduced four years ago, its predecessor, Clear Fraud, has proven extremely effective for a variety of lenders such as storefront, rent-to-own companies and other organizations. Clear Fraud for Online Installment intends to be an equally trusted solution for the customer-not-present environment.
For more information about the new fraud score and how it can protect your profits, contact Cheryl Brennan at 727-400-4637.
About Clarity Services, Inc.:
Clarity Services, Inc. provides powerful real-time fraud detection and credit risk management solutions for lenders serving the non-prime and thin/no file consumer segment. By leveraging unique data assets and scores, Clarity Services’ suite of FCRA-regulated reports and scores empower providers with visibility into critical consumer information not available on traditional bureau reports. For more information about Clarity Services, visit our website.