Manual document review was causing operational inefficiencies and allowing fraudsters to slip through 

Crédito Real was targeting double-digit annual growth in its leasing business. To do that, it needed to be sure new applicants were legitimate, and fraudsters were detected as quickly as possible. 

Unfortunately, their process for verifying supplied documents was causing friction and inefficiency. As things stood, every document was manually reviewed by analysts for consistency and accuracy of ID, income, addresses, tax declarations, and more.

With every document taking half an hour to review, it was eating up hundreds of hours a week. Inevitable human errors, combined with the fact more sophisticated fraud was hard for even the best analysts to spot, meant bad applications were slipping through. 

When fraud was eventually found much further down the line, the business faced additional costs, such as legal fees and recouping goods back from fraudsters.

New Director of Projects in Operational Efficiency, Mike Mulrooney, was eager to transform the process. If Crédito Real could automate and improve fraud detection, they’d be more efficient, free up staff to focus on trustworthy clients, and scale without scaling their operational costs. 

Detecting more fraud faster with Inscribe’s automated and easy-to-use technology

Mike scouted the marketplace for a solution and one vendor stood out—Inscribe. 

At the outset, Mike supplied Inscribe with relevant data sets to ensure their systems recognized all the common traits of Mexican document fraud. Once complete, Crédito Real began uploading documents to Inscribe’s fraud investigation tool. This examined every detail, including file forensics and metadata analysis, returning a response in superhuman time. 

Next, they integrated Inscribe’s API flagging tool into their own systems. This allowed them to upload a high volume of documents at once, create custom rules and verifications, and then sit back as the API acted as an instant fraud filter. This meant Mike’s analysis team no longer had to sift through documents themselves. 

Crédito Real drew powerful insights from the newly generated data. Not least that bank and tax statements were the optimum place to find instant signs of fraud. This was a game-changer, because it meant they no longer had to check every document to see whether an applicant was trying to defraud them.

Suddenly, a process that had been taking hundreds of hours of manual work a week, was done in seconds. 

Documents are now reviewed over 10x faster, improving operational efficiency and saving $100k+ 

Inscribe saves Crédito Real hundreds of analyst hours every week. Before, every document took 30 minutes of human resources to review. Now, with Inscribe’s automated processes, it takes 8 seconds!

Where previously analysts had to check as many as 50 documents to find one fraud, they can now focus on the one that’s flagged by Inscribe’s automation. As a result, they easily process tens of documents in the time it previously took to do one. 

This brings a huge leap in efficiency and enables analysts to spend more time on tasks that directly support business growth. It means, too, that as they scale, they won’t need to hire additional analysts to stay fraud-safe.

Crédito Real saves even more time because Inscribe’s automation has proven to be so exact. Where previously a flagged document required deeper investigation, now they can decide if applications are legitimate or fraudulent without that extra step in the process. 

ROI has been incredible. Inscribe only has to catch one or two instances of fraud before Crédito Real’s annual spend on Inscribe is covered. After that, every discovery adds up to more time and money saved.

Even better, because they now reject bad clients faster—and are losing less money to fraud as a result—they can take a chance at the other end and lend to trustworthy and well-intentioned customers they might have ordinarily considered too great a risk.

Evaluating the true level of risk yields a clearer picture when they don’t need to add in a buffer to protect against the chance that the documents may have been manipulated. So Inscribe enables them to help more of the people who need it. 

Crédito Real receives fewer fraudulent applications now, too, because Inscribe is such a strong deterrent. 

Fraudsters are learning fast that it’s not worth their time to try to pass manipulated documents. For Mike’s team, it’s like the carrot and the stick. The carrot is that his sales team can spend their time searching for good clients and see the results in their paychecks. The stick is seeing that all their work cultivating a risky client was for nothing when they quickly get a rejection. Fraudsters will always find an easy target when there are weaknesses in processes. With Inscribe, Crédito Real’s leasing business isn’t seen as that target.

Inscribe has brought huge benefits to Crédito Real, saving thousands of hours of human resources and $100k+ in fraud that would have previously gone undetected.