Manual document review was no match for sophisticated fraud.

Logix Federal Credit Union, with a team of 12 investigators handling everything from check fraud to electronic crime, faced increasing challenges in document fraud detection and verification. As a credit union processing several hundred loan fraud cases annually, they needed a more efficient way to detect fraudulent documents.

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"Way back when, when I was working in the branches as a frontline employee doing new accounts and loans, we always used to ask for a couple of pay stubs and a W-2, and we would eyeball it," explains Matt Overin, who leads Fraud Risk Management at Logix. "But today, with the internet and sophisticated tools to create any document you want, we really need something we can trust to look beyond what my investigators can see with the naked eye."

The manual verification process was particularly time-consuming. Investigators had to maintain files of specimen images for common documents, pull them up for comparison, and contact other financial institutions to verify account information. With manufactured or altered income documents becoming increasingly commonplace over the past six years, the team needed a more robust solution.

Automated document fraud detection transformed the investigation process.

Logix's search for a document fraud detection solution led them to Inscribe. The platform offered a comprehensive approach to document fraud detection that would streamline their investigation process.

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"Today, instead of my investigators having to keep specimen images of common documents in a file and pull them up every time we find one, all the different bank statements and utility bills and things, or call other financial institutions to try to get information about the balances and the names on the accounts, we use Inscribe," says Matt. "Inscribe alerts us to document fraud. My investigators no longer have to do additional research to find the existence of the employer or any kind of cross-reference for the employer and the employee."

$3 million in potential fraud loan saved in just eight months.

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"We started using Inscribe in late April last year. And in just eight months, we saw potential loan fraud savings of over $3 million and countless ID theft saves," says Matt.

The impact was immediate and substantial. By eliminating manual document fraud detection processes, investigators also gained significant time savings, allowing them to focus on actual investigations rather than backend research.

The success has made Matt an advocate for the platform among his peers. "I talk to my peers on a conference call once a month with about 50 different credit unions across Southern California. I let them know if you're not using Inscribe, you might think you have a document fraud problem, but you don't know the extent of it until you start running your documents through it and how much money you could be saving."

As document fraud continues to evolve, Logix Federal Credit Union remains vigilant. "It's like whack-a-mole," Matt notes. "You think you might have it taken care of, and something new comes up." With Inscribe as part of their fraud-fighting toolkit, the team is better equipped to handle these emerging challenges.