Real time and adaptive risk detection for digital payments.
Overview of technical briefing on October 14,2020.
0:00-1:00 Introduction of Solution
Overview: Nivelo’s risk management solution is embedded into the payment flow. Nivelo does not process ACH payments but does partner with clients who are ACH processors, large originations, and third party senders. Their unique solution focuses on real-time risk detection helping clients solve ACH risk issues in real time rather than waiting for 3-5 days.
1:00-2:30 Continued explanation of solution and benefits
This allows Nivelo’s clients to carry on with their business and not wait for the bank to notify them if a payment has cleared or not. Risk scores are generated without interaction with the bank.
2:30-8:00 Client View Demonstration & Continued Overview
The solution is used by payroll providers to help identity account takeover or identity theft. It can recognize if the account holder is who they represent themselves to be ensuring funds don’t go into accounts owned by third parties. When issues are found with the transactions reported to Nivelo, the client is instantly notified to review the transaction in question.
8:00-9:00 Nivelo Admin Dashboard Review
A unique Nivelo score associated with each transaction indicating the probability of a returned transaction and is available in the admin panel. The dashboard also allows a client to see historical transactions and other attributes which indicate higher return risks. The risk indicators are demonstrated in a weighted view giving an analyst the ability to understand why a Nivelo score may be higher. Indicators of increased risk or decreased risk include, but may not be limited to last change of location, a Phixius check, employer information, employee account number, and other transaction related information.
10:00 – 12:00 Postman Demo of API & Other Company Information
Sending transaction information occurs the ACH transaction is created rather than when the batch file is created at the bank. This allows Nivelo to look at wider dataset beyond routing number and account number. The additional details can be used to generate a more accurate Nivelo score. Nivelo focuses on transparency in their ML model so clients are able to develop the best end user experience.
Additional Briefing Information
This briefing was held at V-Sum_One on October 14, 2020. V-Sum_One was financially supported and made possible by Finix, Routable, and The Kauffman Foundation.