Money2020: Hello Soda’s Round-up

Earlier this week we had the pleasure of exhibiting our ID and personalised data solutions at the 3rd Money2020 Europe in Amsterdam. Taking place over the course of 3 jam-packed days, starting first thing Monday 4th June and running until Wednesday afternoon, the event saw the largest tech organisations showcasing their new user-friendly technology for the financial market. The trade show exhibited over 2000 industry leaders as well as various keynotes from the likes of Apple, Visa and ING Group. Money2020 also provided 2 after-hour networking events; ‘Taste of Amsterdam’ in Amstelpark and the Money2020 Street Takeover in the famous Canal District.

This year’s Money2020 saw a focus shift towards themes such as AI, blockchain applications, diverse payments and open banking. It also spotlighted how trustworthy digital identities can or can’t be. Not only are there many inadequacies of paper document verification processes (just because a document is official, does not mean to say the customer is the rightful owner), there are an abundance of forged or stolen identity documents readily available on the dark web. Improvements in this area, such as the use of digital footprints verification and facial recognition for example, can help to corroborate identity details including name, age and location.

Open banking and innovations in the payment industry are vital in the digitalisation of the consumer market. Money2020 provided us the opportunity to look to how consumers and business will go about their monetary interactions in the future with new technologies. The finance industry has seen a dramatic rise in new innovations in recent years such as digital mobile-only banking services such as  Monzo and Revolut cards and Biometric payments through Apple and Android Pay. These revolutionary advancements have demonstrated how the industry has adapted and improved over the past few years in accordance to the ever increasing consumer demand for convenience and easy access. Proving incredibly popular with millennials, these advancements also provide somewhat of a prediction of the future of the market, with consistent and continued growth in easy to use products such as the aforementioned payment systems.

Taking part in the event provided us with the perfect opportunity to showcase how we can create full, 360-degree pictures of their consumers to reduce the risk of fraudulent transactions. Our solutions provide companies to verify the identity of consumers during the transaction or application process using a multi-pronged approach to ensure effective and efficient verification.

To find out more about how to improve your identification verification processes or chat about any of our other products, check out our product page or get in touch to speak to one of our experts today.   

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Hello Soda joins TruNarrative

Hello Soda’s advanced data analytics platform will now be available through TruNarrative – a financial crime platform and decision engine used by banks, alternative finance, lenders, and gaming companies

The valuable addition of Hello Soda via the TruNarrative App Store will increase the availability of solutions for TruNarrative users all through a single integration.

Using advanced machine learning and natural language processing, Hello Soda provides businesses with real-time additional insights to verify consumers and improve accept rates and fraud detection.

“We are excited to be supporting TruNarrative’s mission to make safe commerce simpler for businesses across various sectors. The amazing thing about TruNarrative is that they enable businesses to access multiple solutions through just a single integration and we truly believe that our platform will complement TruNarrative’s existing services.” – James Blake, CEO Hello Soda

“The inclusion of Hello Soda within our offering really opens up a whole new world of possibilities for our customers. The additional level of insight that Hello Soda provide will be revolutionary in improving verification rates and fraud detection – we are excited to promote it.” – Mark Courtney, TruNarrative

About TruNarrative

TruNarrative was founded in 2016 with a single mission: to make safe commerce simpler. With a head office in Leeds, TruNarrative also has offices in London, New York and Singapore

TruNarrative aims to transform the financial crime process for identity, KYC, fraud detection and AML by continually providing products built on state-of-the-art technology, bringing the best of data science to ambitious companies of all sizes.

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Who won the Hello Soda pool tournament?

We like to keep things exciting in the Hello Soda office, so what better way to bring out everyone’s competitive side than a pool tournament? But who were the winners?

The Hello Soda pool tournament winners are… our Business Development Director, Phil, and our Director of NLP & Data Science, Iustin!

Get in touch with Phil today to congratulate his winning status (or to find out how you could benefit from our solutions).

Keep your eye out next quarter to find out which Hello Soda tournaments are coming up.

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4 key insights to increase propensity to collect by 250%

How to increase collections success

Imagine being able to increase the probability of collecting by 250%. A great frustration in the collections industry is not being able to reach your consumers, not just that but not knowing which to contact first. Perhaps this is due to the contact details you hold being out of date or incorrect, perhaps this is due to a lack of knowledge surrounding their affordability or perhaps you can just never catch them at the right time on the right day. Here we discuss how to increase collections success.

These issues are even more of a problem now with regulations limiting the number of times that collectors can contact an individual as well as when they can contact them.

So how can you priotise your contact list for the maximum chance of success?

With Discovery, you can turn the limited amount of contact information that you have into a plethora of detail.

Verify:

  • active contact points
  • up-to-date location data
  • whether an individual is employed – and therefore more likely to repay on time (by up to 2.5x)

…toto increase collections success by prioritising based on highest propensity to collect.

Additionally, Discovery can be used to price entire collections books in the bidding and acquisition process to help you to determine whether it is worth bidding on.

This all works through you inputting a single unique identifier per individual (such as an email address) which can be done in batch. This acts as a jumping off point from which Discovery traverses from one piece of publicly available piece of data to another. It then returns a detailed and applicable report which can be easily integrated into your CRM to help segment and prioritise collections.

So there you have it, how to increase collections success by verifying whether your customers have active contact points, whether they are employed, and other insights into their online activity.

Find out more

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Cutting chargebacks with big data verification

A massive 51% of purchases are now made online, with that statistic being much higher in younger populations. We are at a stage where consumer behaviour is in limbo between the online world and the offline world, and the increasing demand for convenience and efficiency means that it is essential for businesses to implement more efficient and innovative verification systems – soon.

Many young consumers, including millennials, and even more so Generation Z, have grown up with technology at their fingertips, and the ability to get whatever they want with a click of a button

Read the full article

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