Digital risk intelligence company Trustfull has launched Silent Onboarding, a product aimed to defend against synthetic identity fraud. Trustfull’s Silent Onboarding reportedly leverages digital signals to pre-screen customers without interfering with the user experience.

The solution combines phone, email, and IP address intelligence from public sources into a real-time digital risk score. According to the official press release, suspicious users are identified and blocked by using silent checks. The Silent Onboarding features a single API for integration into existing account opening processes as well as a digital risk intelligence platform. Its main functionalities include an advanced identity graph that can help visualise suspicious connections between users based on digital identifiers, a no-code rule engine with customisable risk models, and actionable insights to refine one’s risk strategies over time.

As emphasised in the official press release, the launch of Trustfull's Silent Onboarding is part of a larger effort from the company to ensure business safety and compliance across all digital customer interactions. The wider picture According to Javelin, in 2023 alone, identity fraud losses amounted to nearly USD 23 billion, a figure influenced by the rise in synthetic identity fraud. This type of fraud involves creating a fake identity by combining real contact details obtained from data leaks with ad hoc fabricated information.

Synthetic identities are leveraged to commit a range of digital and financial crimes including money laundering, payment fraud, and promo abuse. As per the same source, in 2023, fraud also had an important impact on consumers’ time. If, in 2022, the average amount of time spent by consumers to resolve issues resulting from identity fraud amounted to six hours, in 2023, fraud resolution hours saw a significant rise to a nearly 10-hour average.

This change reportedly caused a major disruption for consumers and financial institutions alike. More about Trustfull Trustfull extends a digital risk intelligence platform that can help businesses reduce risks, protect their integrity, and accelerate their growth. The company leverages hundreds of digital signals to detect fraud and fincrime attempts across the entire customer journey.

Via its silent phone, email, IP, device, and browser checks, Trustfall’s ready-to-use models, workflows, and data enable teams to make infirmed risk decisions with no user experience implications. In late 2023, it was announced that the company partnered with AI-powered risk decisioning software provider Provenir. .