$12.5 billion in 2020: This is the loss suffered by banks due to fake documents. Identity theft, the creation of fraudulent bank accounts, loan or credit applications, illegal financial transactions… all these fraud methods continue to evolve with the development of tools and techniques.
Let’s introduce Anytime
Anytime, founded in 2014, a subsidiary of the Orange Bank group, is a French neo-bank specialized in meeting the needs of professionals and businesses. Fraud within Anytime takes various forms but is mainly focused on combating money laundering and studying both standardized and non-standardized documents during subscription.
What is the goal of integrating Finovox?
As an online bank using standardized and non-standardized documents, which are factors likely to lead to increased fraud, it is essential to verify the authenticity of the documents submitted by clients when opening accounts or applying for credit, especially within the framework of the AML-CTF (Anti-Money Laundering and Counter-Terrorism Financing) efforts. The analysis is primarily focused on non-standardized documents.
Non-standardized documents, what are they?
Non-standardized documents are those that do not adhere to legal formatting rules, etc. This includes invoices, pay slips, proofs of address, bank account details (RIB), and more.
How was Finovox integrated into Anytime?
The Finovox solution was deployed in two phases: a pilot phase followed by an extension to the overall document scope. The first integration was done through our Finovox Investigation solution, which provides evidence of document falsifications. Subsequently, Anytime sought to enhance its offering with Finovox Detection, which integrates as an API directly into the client’s IT infrastructure, enabling automatic, real-time analysis of incoming documents.
Since the end of 2022, information analysis and receipt via API, along with decision-making through investigation via the platform, have been in place.
What if we asked for your feedback on Finovox?
Marine Monneret, Head of Risks, Controls & Compliance at Anytime, highlighted that Finovox actively contributes to detecting fake documents through a series of consistent indicators, making this solution indispensable for the online bank.
“Finovox participates in detecting fake documents through a series of consistent indicators. The solution has become an essential component for Anytime.”
Marine Monneret, Head of Risks, Controls & Compliance at ANYTIME