Sphonic is an innovative Risk Management business, built for the fast-moving digital commerce world. Through the Workflow Manager solution (WFM) we are able to leverage data from a myriad of 3rd party vendor services as well as applying our own unique significance filtering, enabling for the creation of an authenticated Digital Picture.
What does this mean to you?
WFM can apply in relation to the identification and profiling of Individuals, Businesses and Transactions in order to:
- Reduce Friction
- Improve Conversion
- Aid Onboarding and Account Acquisition
- Reduce Fraud and Risk, and streamline KYC, KYB and AML processes.
Opportunities & Challenges
In the fast-moving digital age consumers are demanding a super-slick experience, given they can now undertake more services and events from anywhere, in a multi-device connected world.
With this comes the potential threats from an increase in fraud as well as the prospect of genuine consumers being declined through traditional systems and strategies. Furthermore, the costs associated with managing fraud and the technology implications from adopting new solutions and innovations can be a major barrier.
Sphonic has considered these factors foremost in the development of its product and services ensuring organisations can benefit from on-going innovation and reduce the associated costs and technology effort.