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August 11, 2023
Chicago — Bectran, Inc., a global leader in innovative, comprehensive B2B credit management solutions, proudly announces the launch of its revolutionary Advanced Fraud Prevention Suite. This groundbreaking suite of risk mitigation services is designed to empower businesses with robust fraud detection capabilities through comprehensive, adaptable risk models for enhanced decision making, online presence evaluation and customizable risk thresholds for unparalleled risk management and credit decision making.
With the increasing sophistication of fraudulent activities and bad actors, businesses face mounting challenges in safeguarding their companies against malicious attacks, particularly within the B2B credit sector. Bectran’s Advanced Fraud Prevention Suite was uniquely designed to address these concerns by offering an array of powerful features and services, including credit application data verification, internet provider (IP) network scoring and blacklisting, location verification, pattern matching capabilities and more.
In a world filled with ever-advancing technology, the security processes to protect your business must keep up — and they need to be comprehensive and complementary to your current credit, collections and accounts receivables procedures. It’s that philosophy that drove the creation of Bectran’s Advanced Fraud Prevention Suite. Customers are increasingly requesting more enhanced fraud protection and, while there are many disparate services on the market offering risk mitigation, Bectran aims to be a one-stop-shop for our clients and user, an extensive, end-to-end solution for every aspect of the order-to-cash cycle.
Bectran’s Advanced Fraud Prevention Suite contains key features, including the following, to create a comprehensive, overall risk score that better predicts the risk an applicant presents.
- Location, Phone and Company Name Matching — Advanced algorithms match an applicant’s physical machine location with pertinent business information, such as phone number, website creation and business address to ensure that your applicants are where they claim to be in the application.
- Credit Application Data Verification — The Bectran system validates and cross-references critical data points, safeguarding your business against erroneous or misleading information and ensuring the authenticity of applicant information.
- Consolidation of Data Sources — Consolidate data from various channels to gain a holistic view of your customer’s creditworthiness effortlessly while maintaining thorough scrutiny and oversight of applicant information.
- IP Network Scoring and Analysis — Enhance your decision-making process with Bectran’s robust analyses, specifically designed to identify suspicious patterns in network performance and business locations to recognize potential risks earlier.
- Online Presence Evaluation and Verification — Bectran’s system audits your applicant’s online presence through a variety of reputable sources to provide additional insights and risk assessment profiles that traditional methods could overlook.
- Customizable Risk Thresholds and Pattern Matching Capabilities — Tailor risk thresholds to match your business’s unique risk appetite and implement custom pattern matching models to identify recurring trends in your account portfolios.
- Automatic Identification of High-Risk and Suspicious Applications — Bectran’s Advanced Fraud Prevention Suite automatically detects and disqualifies high-risk and suspicious applications, minimizing potential losses and helping credit professionals better identify risky behavior.
“I am proud of the hard work our team have put in to creating such a groundbreaking, all-inclusive fraud prevention framework, reinforcing the Bectran commitment to put our clients’ needs first,” says Louis Ifeguni, CEO of Bectran. “Fraudulent activity is the nightmare that haunts all businesses, especially in our industry of B2B credit, and if we at Bectran can provide anything to help detect those malicious activities early and prevent fraud and risk, we are going to do it. The Bectran Advanced Fraud Prevention Suite is one way we can help our clients more confidently navigate the complex landscape of credit risk and better ensure their secure, successful growth and development.”
Bectran’s unparalleled risk mitigation services and expansive, adaptable credit management platform elevate and fortify credit decisioning for businesses of all sizes in various industries. The Advanced Fraud Prevention Suite is one of many service offerings from Bectran and can be implemented into any business profile immediately. Visit our website or speak to a Platform Support Representative today to upgrade your fraud prevention processes and move your credit, collections and AR departments forward.
About Bectran
Bectran, the industry leading SaaS platform, has grown rapidly over the years to become the companion toolkit for the Credit Department just as CRM is for the Sales Department. From simple to complex organizations and SMEs to Fortune 500 companies, Bectran has helped companies cut down the time to process and approve credit by over 90% while significantly lowering the risk of credit defaults and the cost of collections.
A growing number of companies are depending on Bectran to manage their Accounts Receivable and Collections. With significant process and task automation, companies are able to cut down the cost of collections by as much as 60-90% while accelerating the cash receipts cycle with complete and accurate cash applications.
Bectran’s clients enjoy the ease, speed and cost-effectiveness of adopting the Bectran platform. New clients are onboarded in a matter of days or weeks. Credit professionals in various industries have described the Bectran platform as the future of the Credit Department.
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