Case Study: College Ave reduces fraud and speeds lending decisions with Prove

College Ave reduces document requests by 90% with Prove

College Ave, a leading private student loan provider, faced a complex fraud challenge due to their young applicant base with thin credit files and evolving threats like identity theft and synthetic identities. Their existing manual review process was slow and ineffective. To address this, they partnered with identity verification vendor Prove to build a more precise and less restrictive fraud prevention system.

By implementing Prove's solutions, including Prove Verify and Trust Score for identity and risk scoring, College Ave created a layered, real-time decisioning system. This partnership with Prove resulted in a 90% reduction in document requests, enabled real-time decisions on 90% of applications, and eliminated multi-week manual reviews. The vendor's technology allowed College Ave to stop fraud more accurately while significantly improving the customer experience for legitimate borrowers.

College Ave