07 Feb, 2022 - 14:20 · 2 min
Bologna (Italy), February 7, 2022 – CRIF - a global company based in Bologna and specializing in credit bureau and business information systems, as well as advanced digital solutions for business development and open banking – and Fido - a leader in digital footprint analysis systems - have jointly developed TrustScore, a new model for assessing the risk of credit fraud in consumers’ online activities.
TrustScore was developed from the combination of CRIF’s 30 years’ experience in financial risk forecasting and monitoring and Fido’s revolutionary platform, which uses digital footprints to assess the digital reliability of users, positioning itself as a complementary service to support traditional assessment methods. At the same time, it will facilitate the secure financial inclusion of retail customers, helping financial intermediaries increase the acceptance rate even for consumers without a credit history.
Specifically, the hundreds of digital signals analyzed by Fido, including e-mail addresses, phone numbers, IP addresses, and browser information, will be applied to the new score developed with CRIF and will optimize and speed up the onboarding experience of financial intermediaries’ customers.
This new tool will be particularly strategic for the increasing number of businesses whose application and acceptance processes for credit or financial products take place entirely online.