Case Study: Jet Surety achieves faster, more accurate bond vetting with Finicity’s Mastercard Open Banking solutions

Jet Surety is powering accurate bond vetting and reduced fraud with data from Mastercard Open Banking

Jet Surety, a surety and fidelity bond provider, faced challenges with a time-consuming and inefficient bond vetting process that was vulnerable to fraud, particularly in its freight broker bond segment. To combat this, they partnered with Finicity, a Mastercard company, and implemented its Verification of Assets product through Mastercard Open Banking.

The solution from Finicity provided Jet Surety with instant, reliable access to applicants' financial data. This integration allowed for faster, more accurate underwriting, drastically reducing fraud and claims. As a result, Jet Surety was able to offer lower rates, gain hundreds of thousands of dollars in monthly premiums for its freight broker unit, and confidently grow its business while competitors exited the market.

Jet Surety

David Gonsalves

Chief Underwriter Officer