About Banco PAN
Banco PAN acts as a complete digital platform focused on individuals, offering a wide range of products through technology. Its main lines of business involve banking, credit, means of payment, insurance, investments and marketplace.
The Challenge
In order to ensure that the security of customers occurs in all its operations, Banco PAN has implemented, through Fingerprint, a technology that reduces fraud attempts in its systems. Banco PAN makes several credit offers digitally, either through loans, financing or credit cards. These proposals are carried out via the app and commercial partners. For each transaction, clients enter their personal data for authentication and eligibility verification, and thus their transactions are approved or denied.
Why Fingerprint?
The technology offered by Fingerprint prevents fraudsters from making duplicate contracts using the same device as previous frauds. With the incorporation of Fingerprint in the decision engines, Banco PAN started to generate a unique identification code for each customer (either via application or website), reducing its number of losses and image risks. PAN's Specialist, reinforces the importance of using Fingerprint to ensure the success of the bank's credit operations.
"Since we started using the solution [Fingerprint], we've implemented ID extraction across all possible channels and seen a huge impact, refusing fraudsters and assertively approving ideal customers."
Conclusion
In addition to the reduction in losses, Banco PAN was able to positively impact customers who were victims of this type of scam, especially the elderly and people with low knowledge of technology. The result was a reduction of 1.9% per year in losses due to fraud or non-recognition of payroll loans.
FAQ
Banco PAN acts as a complete digital platform focused on individuals, offering a wide range of products through technology. Its main lines of business involve banking, credit, means of payment, insurance, investments and marketplace.
