Predict New Account Risk

Predict New Account Risk

Maximize growth, minimize losses

Predict New Account Risk provides a transparent view into an applicant’s deposit account history and behavior to protect against losses related to new account openings. Allowing your financial institution to make knowledgeable decisions that align with your business objectives and threshold for risk.

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Understanding risk where it occurs

When you incorporate Predict New Account Risk into your account opening strategy, you can make more knowledgeable approval and privileging decisions using risk scores with summarized attributes to predict the likelihood that an individual’s account will be closed due to first-party fraud or account mismanagement within the first nine months.

Based on an Early Warning® production study in 2021, six financial institutions using Predict New Account Risk were alerted to over $171 million in potential first-party fraud during the year.

All the capabilities you need to protect against losses related to new account openings.

Tools to help you Predict New Account Risk:

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FIRST-PARTY FRAUD SCORE

Predicts the likelihood that a consumer will default due to first-party fraud within the first nine months after account opening

 

✓ Data provided:
Predictive score

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ACCOUNT DEFAULT SCORE

Predicts the likelihood that a consumer will default due to account mismanagement within the first nine months after account opening

 

✓ Data provided:
Predictive score

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KEY FACTORS AND SUMMARIZED ATTRIBUTES

Summarized attributes add context to new account scores
 

 

✓ Data provided:
Summarized attributes

Prevent fraud losses with confidence

Application fraud has ballooned over the past two years and expected to increase, even as growth trends for other types of fraud are beginning to plateau.1

1. Market trends in Fraud for 2022 and Beyond: New Fraudsters, New Era Aite-Novarica, Feb. 2022

Predict New Account Risk use cases

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NEW ACCOUNT
OPENING FOR DDAS

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CREDIT
USE CASES

What it solves

Predict New Account Risk allows you to expand your customer base with confidence. It provides deep predictive intelligence that moves beyond binary “yes” or “no” decisions to make more nuanced risk assessments. So, you can open more accounts while protecting against fraud losses.

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GROW
YOUR CUSTOMER BASE

Approve more accounts by tailoring privileges to align with your risk threshold using our deposit account intelligence.

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PROTECT AGAINST
NEW ACCOUNT LOSSES

Predict the likelihood of first-party fraud or account default within the first nine months of account opening using holistic scores and summarized attributes.

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BALANCE RISK,
EFFICIENCY AND COMPLIANCE

Use insights in a manner that align with your account opening strategy—allowing you to reduce risk, while maintaining compliance and operational efficiency.

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IMPROVE FINANCIAL INCLUSION

Gain insights and perspective required to confidently open your doors to a wider population of consumers.

Discover More

Fraud Threats Facing Banks and Credit Unions

The Case for Predictive Intelligence: Protecting Banks Against New Account Losses

6 New Nacha Operating Rules RDFIs Should Know

The Early Warning® Advantage

Leverage 30 years of experience to enhance your new accounting opening strategy.

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Robust data

Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource which contains a rich set of data, ensuring our information is always up-to-date.

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Scalable technology

Grow at your own pace! Access our capability bundles through a simple API. Implement once – and quickly deploy additional capabilities in a snap.

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Rich analytics

Our risk assessment algorithms incorporate comprehensive, cross-institution data sets, adding depth and perspective to insights.

Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource – which contains a rich set of deposit performance data contributed by more than 2,500 financial institutions including banks like:

Bank of America, Capital One, Chase, PNC, Truist, US Bank and Wells Fargo

Let's talk about how we can grow your financial institution

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