In addition to being the first to launch a document fraud detection solution, we recently took the next step in our evolution by introducing the Risk Intelligence category to provide you with the best performance and most actionable fraud and credit intelligence. 

We’ve also introduced several new features designed for risk and ops teams. While it was hard to narrow the list, we’ve chosen our top five favorite risk-reducing features introduced in 2023:

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1. Document feedback

2. Transaction parsing 

3. Fraud analytics

4. Device fingerprinting

5. Cashflow insights 

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Keep reading to learn more about how you can benefit from these powerful new Inscribe capabilities.

1. Document feedback

Give feedback, get the best fraud detection performance

All machine learning models rely on feedback to improve. That’s why we added document feedback buttons that allow you to ‘accept’ or ‘reject’ the documents you review — making the Trust Score more intelligent over time. By recording your decisions, you’ll benefit from us continuously improving our ability to detect fraud in documents. 

2. Transaction parsing

Receive a structured list of transactions in seconds

We’ve perfected our bank statement transaction parsing performance! Inscribe now parses transactions from top banks and even local credit unions with incredible accuracy and speed, returning a structured list of bank statement transactions by customer or bank account in seconds. You can also work with Inscribe to parse data from pay stubs, W-2s, and checks. Because Inscribe is 100% built with AI and machine learning, you don’t need to worry about the security risks of offshore human-in-the-loop (HITL) teams. 

3. Fraud analytics

Use custom fraud insights to refine your risk strategy

How do you stay on top of new fraud approaches and tactics? Inscribe’s Analytics page helps you do just that by providing a high-level summary of fraud performance within your workspace. You’ll see a breakdown of the number of flagged documents, % flag rate, flagged documents by document type and file type, and so much more. You can even see behind the numbers and look at example documents behind each chart. Use these custom fraud insights to hone and refine your risk strategy. 

4. Device fingerprinting

Protect your company from repeated fraudulent applications

It's common for fraudsters to submit numerous applications when attempting fraud, and often, these attempts go under the radar. Inscribe's device fingerprinting protects you from repeated fraudulent applications with zero manual input. By combining device, browser, and geographical data, we can assign your customers a unique 'fingerprint,' uncovering repeat applications from the same source. 

5. Cashflow insights

Make smart, fast, and fair lending decisions 

Last but not least, the Credit Insights dashboard takes the burden of tedious and time-consuming transaction data and pay stub analysis off your team. Our easy-to-follow dashboard provides cashflow-based financial health insights that help you understand how much business you should do with a business or consumer borrower. Using data from bank statements, pay stubs, and Plaid, MX, you can see a borrower’s revenue or personal income, loans, expenditures, and much more.

You’ll also see a list of categorized transactions that you can easily search, filter, or recategorize as needed. And because you’re relying on the same rich data for all borrowers, you can reduce bias and ensure fairness.

We hope you enjoyed this month’s list of our favorite features from 2023! Look out for an update on new features next month…

If you’re ready to take your first step to reduce risk and grow revenue with an end-to-end Risk Intelligence solution, speak with a member of our team. Or, test drive Inscribe for yourself with our interactive product tour.