PHILADELPHIA, July 9, 2024
/PRNewswire/ -- Angeion Group is excited to announce the launch of
AngeionAffirm 2.0, marking a new era in fraud
prevention for class action settlement administration. By
integrating bank-level fraud detection with our unique
data insights, AngeionAffirm 2.0 surpasses the capabilities of any
single fraud prevention solution on the market and
creates a more enjoyable and just claimant experience.
The launch of AngeionAffirm 2.0 marks a new
era in fraud prevention for class action settlement
administration.
Remarkably, during claim submission, AngeionAffirm 2.0 is able
to make a real-time determination as to whether the filer is a real
person or an electronic fraud which is communicated to
the claimant immediately. By utilizing advanced fraud
detection at the beginning of the claim process, AngeionAffirm 2.0
also reduces the possibility of unfairly rejecting real class
members, which occurs too frequently with other services on the
market. Our approach ensures that claim volume reporting is
accurate and reflects the flow of legitimate filings, providing
increased transparency and better budget management throughout the
administration process. It also cuts down on false positives
that invariably irritate legitimate
claimants.
Angeion Group is not only keeping pace with but winning the arms
race against increasingly sophisticated fraudsters. By minimizing
fraud and keeping the focus squarely on the claimants'
user experience, Angeion Affirm 2.0 sets the new standard in
fraud prevention.
How AngeionAffirm 2.0 Works
AngeionAffirm 2.0 incorporates an entirely new and novel
approach to fraud prevention while avoiding legacy
fraud detection methodologies that have proven
problematic in large cases, such as relying on IP address
analysis.
At a high level, AngeionAffirm 2.0 works by:
- Reviewing multiple aspects of the claim submission to identify
if the information is being submitted programmatically. This
analysis is largely based on signatures Angeion has identified
through the analysis of over 100M
claims.
- Verifying the veracity of all information provided by the
claimant using a bespoke combination of sophisticated services to
minimize the likeliness of false positives.
How AngeionAffirm 2.0 is Different
Legacy approaches to fraud detection rely on
identifying unusual patterns in the submission data. These can vary
from sophisticated machine learning techniques to basic IP address
groupings. The inherent challenge with these approaches is that it
is analogous to profiling a person based merely on their facial
appearance. Real, honest claimants may unfairly get marked as
fraud under a legacy approach because the claimant
unwittingly filed on a mobile network tower or used a standard VPN.
We are unwilling to accept that risk.
Angeion's approach is to corroborate the validity of the
information being provided at the time of filing. If,
and only if, we cannot corroborate identity immediately, do we
require claimants to submit additional information. This approach
is an industry first because it allows genuine claimants to be
notified of potential issues with their filing instantly, whereas,
in a legacy analysis, they may have been incorrectly identified as
fraudulent and would only be provided the opportunity to cure their
claim many months later, if at all.
To truly appreciate this momentous leap forward in both
fraud protection and client service that AngeionAffirm
2.0 represents, we invite you to experience it firsthand. Contact
Angeion Group to attempt to challenge the robust fraud
prevention features, yourself.
For more information, email marketingteam@angeiongroup.com.
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SOURCE Angeion Group