Fraud losses are unavoidable by financial institutions, but can be mitigated with proper fraud protection, banks can free up capital by shifting fraud loss liability, maintaining compliance with Basel III, all the while improving topline growth.
Instnt enabled a bank to fully shift potential fraud losses off of their balance sheet, saving the bank $150,000 in fraud loss. Previously the bank also experienced a high rejection rate, disproportionately rejecting 60% of applicants. After leveraging Instnt AcceptTM, this rejection rate dropped to 5%, allowing the bank to accept 55% of the applicants it was previously rejecting.
By indemnifying financial institutions against fraud, Instnt AcceptTM assumes fraud loss liability, so banks can focus on top-line growth without the risk of turning away good customers. Read our whitepaper to learn more.