Use Cases
Banking and Payments
Fight APP fraud with the next generation of payee verification technology
Detect and prevent APP scams before payments are made
Lucra delivers a unique verification process that arms banks, EMIs, PSPs and BaaS providers with verifiable and enhanced payee data to detect and warn customers of potential APP scams and mitigate loss risks
Move beyond Confirmation of Payee. Achieve real APP fraud detection and deterrence with an API solution that delivers real protection to you and your customers.
Unmasking fraudsters
Lucra unlocks previously inaccessible payee data to build account activity profiles in real-time. This lifts the veil on account usage and age, enabling detection of key APP fraud indicators with rapid precision.
How It Works
Request details
Payor sends payee request to share bank account details via open banking
Perform analysis
Transaction and account profile analysis performed by Lucra and delivered back to payor Bank/PSP
Issue warnings
Bank/PSP uses profile analysis data to issue automated specific and tailored warnings to payor in real-time
Take action
Payor reviews warning and decides to proceed with or cancel payment
High quality, individual specific data
Access to payee transaction and account data enables delivery of tailored and specific warnings to customers that help meet obligations under new reimbursement regulations
+ Higher quality payee data obtained
+ Greater ability to assess likelihood of fraud
+ Customers empowered and protected
+ Pay out risk greatly mitigated
