March 27, 2019
Kabbage is an innovative online lender that leverages a one-of-a-kind data platform to finance small and medium-sized businesses in minutes. Since 2011, Kabbage has extended over $1.6 billion in short-term working capital. Kabbage’s financial technology reviews real-time business data to inform robust underwriting and credit risk decisions rather than relying on traditional credit attributes.
Kabbage offers customers flexible access to up to $150,000 of continuous credit rather than traditional installment loans – an extremely compelling proposition to a growing business.
Kabbage deployed the ThreatMetrix solution to accurately identify fraudsters using stolen credentials during the application process. The advanced solution reduces Kabbage’s fraud losses, safeguards long-term revenue and ensures Kabbage upholds its rapid approval process.
“ThreatMetrix provided immediate peace of mind. We also know that the tool is continuously evolving to mitigate against new types of fraud.”
– Kathryn Petralia, COO, Kabbage
Kabbage’s seamless application and review process uniquely supports the fast pace of small businesses and contributes to high customer satisfaction. Kabbage required a solution that would accurately identify fraudulent digital identities while preserving the simplicity of the application process.
ThreatMetrix allows Kabbage to maximize speed and ease of use while mitigating the risk of fraud as customer volume continues to grow. ThreatMetrix provides a two-fold value proposition:
- The ThreatMetrix Digital Identity Network enhances Kabbage’s ability to confidently identify “good” or “bad” device IDs and IP addresses. ThreatMetrix immediately removes confirmed fraudsters from the applicant pool, freeing the Kabbage Platform to review legitimate small business applicants.
- ThreatMetrix device-based solution allows Kabbage to more systematically map digital identities to real-world businesses with industry-leading accuracy and security.
Reducing Fraudulent Applications
Kabbage needed an effective fraud solution to passively authenticate fraudulent loan applicants who passed static identity assessments. The ThreatMetrix Digital Identity Network helps Kabbage cross-reference existing customer information with the proprietary global intelligence network to accurately determine an applicant’s true identity.
Identifying Bad Applicants:
ThreatMetrix integrates with Kabbage’s technology to identify, record and reject potentially fraudulent applicants. The solution links the fraudsters’ accounts with associated devices and identities to prevent future fraud across the global network. ThreatMetrix enables Kabbage to identify device-based patterns, behaviors and attributes associated with fraudulent accounts.
Good Applicant Recognition:
ThreatMetrix complements Kabbage’s existing fraud countermeasures to passively verify legitimate applicants while maintaining industry-leading underwriting speeds.