Neuro-ID™ Introduces Prescriptive Analytics Tool for Risk

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Neuro-ID’s Confidence Score Enables Organizations to Gain Valuable, Forward-Looking Insight About Online Applicant Behavior and Potential Risks

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Neuro-ID's ability to assess, verify and segment applicants during the first part of the origination process allows organizations to streamline their operations and identify applicants that align to the organization's risk tolerance.

Neuro-ID™, a leading provider of prescriptive analytics for the risk industry, today announced the Neuro Confidence Score™ (Neuro-CS). While the Neuro-CS has been at the core of the company’s prescriptive analytic solution for years, it is now commercially available. The technology analyzes cognitive changes demonstrated by the applicant during the onboarding process that are indicative of future and ‘risk-relevant’ actions. Neuro-CS provides organizations an out of the box, easy to implement technology toolset and score to access breakthrough insight about online applicant risk. Bringing together a unique combination of behavioral biometrics, advanced analytics and neuro-cognitive research, Neuro-CS provides organizations more assurance in applicant segmentation; ultimately, mitigating overall risk and improving the bottom line.    

Neuro Confidence Score (Neuro-CS)

Neuro-ID’s technology monitors "how" a person answers questions using a computer mouse, touch screen, or other input device to detect high- and low-confidence responses in online forms, questionnaires and applications. For instance, Neuro-ID customers can ask future peering questions, such as “Do you anticipate any changes that will affect your ability to pay back this loan?” When prescriptive analytics are applied to these types of questions, applicants’ behavioral changes are captured in real-time and analyzed for indecision, cognitive conflict, and other indicators of confidence. This process results in a Neuro-CS that allows organizations to have enhanced insight into an individual applicant’s potential future state.

Neuro-CS complements organizations’ existing risk solutions and integrates through a lightweight JavaScript and API integration. The Neuro-CS is based on analytic insights from identifying indecision during the online application process. To generate the Neuro-CS, no Personally Identifiable Information (PII) is needed, thereby scientifically eliminating any biases. The Neuro-CS is generated in real-time as the applicant completes the application questionnaire -- delivering immediate value from day one.

  • Doesn’t require Personally Identifiable Information (PII)
  • Works immediately, no need to train the model or baseline an applicant
  • First applicant, first question, first time

“Neuro-CS is changing the way that online applications are assessed and how an applicant's risk is determined by combining prescriptive analytics, behavioral analytics and neuroscience,” shared Jack Alton, CEO of Neuro-ID. "By empowering our customers with this new ‘future-oriented’ analytic score, they are better equipped to quickly identify those applicants that pose a greater risk or opportunity. Neuro-ID’s technology can scale to the size of any organization and can be quickly changed to support its compliance objectives and underwriting goals.”

The Neuro-ID Story

Neuro-ID is a leading provider of prescriptive analytic solutions for the digital risk industry. Uniquely leveraging patent-pending science and prescriptive analytics to construct and analyze forward-looking, risk-relevant questions, Neuro-ID is quickly disrupting the FinTech space. The technology shows that by understanding “how” an individual responds to a set of questions in real time, can reveal insights into a customers intent, creating an exciting new dimension of risk analysis that was previously undetectable. The demand for Neuro-ID is rising as organizations move toward online applications across a variety of risk-oriented industries.

"Neuro-ID is well positioned to change the way that underwriters and organizations assess risk and opportunity in account onboarding," says David Montague, Founder of The Fraud Practice. "Neuro-ID applies prescriptive analytics to future-looking and risk-relevant questions to help organizations better know their customers and improve operations. Neuro-ID's ability to assess, verify and segment applicants during the first part of the origination process allows organizations to streamline their operations and identify applicants that align to the organization's risk tolerance.”

The Neuro-ID team provides deep expertise and the latest research required to craft the strongest questionnaires and garners the best insight possible for the organization. Neuro-ID technology is versatile, easy to integrate and applicable across a wide range of industries, including mortgage lending, personal loans, auto loans, credit and insurance.

To learn more about Neuro-ID, please visit us at LinkedIn, via twitter @id_neuro, or Neuro-ID website at http://www.neuro-ID.com.

*Neuro-ID technology does not collect any Personal Identifiable Information (PII) and scientifically eliminates any biases during the online process. Neuro-ID is not a decision making tool, but instead sits ahead of an approved third party verification tool and provides actionable insight from the new found application intelligence.*

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Courtney Laabs
Neuro-ID
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Bill Cox
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