Angeion Group has officially announced the launch of AngeionAffirm 2.0, which is expected to mark a whole new era in fraud prevention for class action settlement administration. According to certain reports, the stated solution works by integrating bank-level fraud detection with the company’s unique data insights, thus forming a by-product capable of beating any fraud prevention solution on the market. Furthermore, alongside the given utility, AngeionAffirm 2.0 will also make a point to provide users with a more enjoyable and just claimant experience. More on the same would reveal how the technology in question during the stage of claimant submission, is able to make a real-time determination as to whether the filer is a real person or an electronic fraud attempt. If it happens to be the latter, a communication is issued to the claimant immediately. Hence, by applying advanced fraud detection at the beginning of the claim process, AngeionAffirm 2.0 reduces the possibility of unfairly rejecting real class members, a frequent occurrence with other services on the market. Instead, the ideology in question makes a point to ensure that claim volume reporting is accurate and that it reflects the flow of legitimate filings, providing increased transparency and better budget management throughout the administration process. Such a setup not only feeds into the prospect of an enhanced user experience, but it should also come in handy for staying ahead of increasingly sophisticated fraudsters.
But how will the whole arrangement look from a practical standpoint? Well, AngeionAffirm 2.0 will basically begin by reviewing multiple aspects of the claim submission to identify if the information is being submitted programmatically. The stated review is going to be based, quite substantially, upon signatures Angeion has identified through the analysis of over 100 million unique claims. Anyway, next up, the solution will verify the veracity of all information provided by the claimant, and it will do so through a bespoke combination made up with refined services. This, in turn, will greatly minimize the likeliness of false positives. Having referred to its workings, we now must go back and expand upon what makes AngeionAffirm 2.0 different from anything we had seen before. Here, we must acknowledge how legacy approaches to fraud detection have long relied on a varied system to identify unusual patterns in the submission data, a system which would be comprised of sophisticated machine learning techniques, and basic IP address groupings. The problem with an approach of this sort, though, is that it analogous to profiling a person based merely on their facial appearance. Hence, it would birth a set of instances where real honest claimants get marked as fraud under a legacy approach because the claimant unwittingly filed on a mobile network tower or used a standard VPN. However, by corroborating at the time of filing the validity of information being provided, Angeion’s latest brainchild allows genuine claimants to be notified of potential issues with their filing instantly.
