MARLBOROUGH, MA (July 30, 2020) — Digital Federal Credit Union, better known as DCU, announced today that it has selected SentiLink’s fraud and identity solutions to improve how it identifies risk in membership applications. SentiLink is a San Francisco-based company focused on identity verification and fraud prevention.
These solutions will enhance the member onboarding experience for DCU and streamline the verification process for all members, including those with limited histories.
SentiLink’s synthetic fraud solution analyzes inconsistencies in information provided during the application process and includes access to eCBSV, a new program that allows eligible partners to verify a name, date of birth, and social security number combination against the Social Security Administration’s databases.
“We’re thrilled to partner with the incredibly innovative team at SentiLink. We see tremendous value in their ability to identify fraudulent applications and are excited by the opportunity to be one of the first participants in eCBSV. The Fraud Team at DCU maintains a very proactive mindset when it comes to fraud prevention, and we believe that the best approach to fraud is a layered one. I see eCBSV as a turning point in identity fraud prevention and look forward to further innovation.” — Justin Davis, DCU’s Fraud and BSA Manager
“Synthetic fraud is a significant problem for financial institutions across the United States but remains widely underappreciated and misunderstood. The DCU Fraud Team is among the most forward-thinking and talented in the industry, and we’re incredibly proud to partner with them on identity verification and the historic launch of eCBSV,” said Naftali Harris, co-founder and CEO of SentiLink.
DCU is a not-for-profit financial cooperative serving over 850,000 members across all 50 states by offering a full range of financial services to consumers and businesses. For more information, visit www.dcu.org.
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SentiLink reviews consumer information provided during account opening and credit application processes and returns scores, attributes, and raw data indicating the likelihood that an applicant is synthetic. SentiLink’s unique approach is able to flag both nascent and mature synthetic profiles while decreasing the false positive rate for thin-file applicants. Over 80 million applications have been evaluated by SentiLink’s solutions to date. For more information, visit www.sentilink.com or contact firstname.lastname@example.org.