Case Study: Círculo de Crédito achieves 51% higher fraud detection with Featurespace

Círculo de Crédito boosts fraud detection by 51% with Featurespace

Círculo de Crédito, a Mexican credit bureau, faced significant challenges in mitigating application fraud. Their procedures were entirely manual, relying on analysts for assessments, which was both costly and ineffective at verifying applicant intentions. They lacked specialized fraud detection tools and their only automated alternative was a generic score that was not focused on their personal loans market. To address this, they turned to Featurespace and its Application Fraud solution.

By implementing the Featurespace Platform, which uses Adaptive Behavioral Analytics and integrated machine-learning techniques, Círculo de Crédito could automatically detect evolving fraudulent patterns. This solution from Featurespace delivered significant results, including a 51% increase in fraud detection and savings of over one million pesos. The platform also proved highly sensitive to loss amounts, achieving a 62% difference in fraud losses between the lowest and highest scored applications.

Círculo de Crédito