Onboard Advisor

Overview

With financial crime increasing across the enterprise, organizations need to be able to quickly and efficiently assess risk when establishing and servicing their customers. Onboard Advisor from Fiserv offers a fully integrated, reliable solution to streamline the onboarding process and protect against potential fraudulent activity.

Powered by LexisNexis^®, ID Insight^SM and Early Warning Services^®, LLC, Onboard Advisor allows your tellers to perform a range of fraud and risk detection screening processes against billions of records to pinpoint possible identity and account fraud – resulting in annual loss avoidance savings. Onboard Advisor helps you meet the latest financial crime regulatory requirements by providing:

• The most advanced technologies available for eliminating identity theft
• Greater consistency in fraud detection processes across the organization
• Increased control and ownership of risk management and compliance strategies
• A highly reliable, stable, cost-effective and easy-to-use solution
• Consolidated final account opening advice

Features

Individuals who commit fraud often manipulate their personal information to mask prior financial offenses. The Onboard Advisor fraud and risk solution protects your institution by comparing each applicant's personal identifying information against records of known fraudsters and account abusers contained in the National Shared Database^SM, which is maintained and safeguarded by Early Warning Services, LLC. This solution runs inquiries against the following data:

• Fraud records: Matches to these incident records identify applicants who had an account closed due to fraud, attempted fraud or fraud-like behavior. Fraud matches are often more serious and may indicate higher risk to your institution
• Account abuse records: Matches to these records identify applicants who have caused a loss or had an account closed due to financial mismanagement. A detailed response accompanies any match and shows the age of the record, contributor, paid status, and a breakdown of principal losses and fee reversal amounts
• Predetermined best practice strategies: Help your organization determine the level of risk you are willing to assume and tailor a decision strategy accordingly

Once screening is completed, final account advice, a risk score and details of any matches are presented so you can make decisions using up-to-date, accurate information contributed by participating financial services organizations. This helps prevent offenses that are often copied or repeated at institutions across the country.