How Qube Money proactively blocks fraud before it happens
公司规模
SME
地区
- America
国家
- United States
产品
- Qube Money
- Sift Payment Protection
技术栈
- Sift Console
- Stripe
实施规模
- Enterprise-wide Deployment
影响指标
- Cost Savings
- Customer Satisfaction
技术
- 应用基础设施与中间件 - API 集成与管理
适用行业
- 金融与保险
适用功能
- 商业运营
用例
- 欺诈识别
服务
- 网络安全服务
关于客户
Qube Money is a banking and budgeting app that utilizes digital versions of paper envelopes used in the popular cash-envelope budgeting method. Users can create an envelope or “qube” for various spending categories with their budget, and the funds are transferred to their linked Qube Card through Choice Financial Group, Qube’s sponsor bank. Having budgeting and banking all in one place eliminates the need for an additional service or apps, simplifying customers’ lives and creating a seamless experience. The app provides two points of friction to help customers get control of their spending—users must assign all of the money they put into Qube to a specific category in order to spend it, and when they want to make a purchase, they can only do so by opening and deducting from a qube. This is Qube Money’s Default Zero technology, which makes it so that users can’t spend money unless they open a qube. And this modern take on banking and budgeting works— on average, customers save about $400 a month using Qube just by using it. Qube Money was even recently named the #1 budgeting app of 2021 by Real Simple’s Smart Money Awards.
挑战
Qube Money, a banking and budgeting app, was facing issues with identity theft and account takeover fraud. Fraudsters were stealing identities and setting up accounts on Qube. International transactions also posed a risk due to more complicated chargeback processes. In the early stages of the startup, the app experienced a fraudulent attack by a fraud ring, costing the company tens of thousands of dollars. As an early-stage startup, they knew they couldn’t afford to have more fraud like this happen on their app.
解决方案
Qube Money uses the Sift Payment Protection product to combat fraud at the new account creation level. Accounts are assigned a Sift Score when they’re created and are either accepted or rejected based on the risk of the account. Sift provides Qube with a network view to connect accounts through IP addresses, phone numbers, emails, and over 16,000 other signals to not only stop the fraudster at hand, but pinpoint affiliated accounts that could exhibit fraudulent activity in the future. Qube is able to isolate accounts that have been blocked by Sift and monitor the associated IP address to easily hop on other connected accounts. For international transactions, Qube uses Sift to connect suspicious transactions through IP addresses, marking transactions as fraudulent so that repeated transactions can be easily tracked and blocked. Qube has also had success blocking accounts by evaluating email address names and identifying patterns, looking for strings of emails with only slight variations. The Qube team even utilizes Sift to monitor the age of email accounts, easily identifying fraudulent emails that may have been just created, and flagging them as potential fraud. Additionally, Qube uses Sift alongside Stripe to crossreference users and identify account takeover situations on Stripe, protecting their business from end to end.
运营影响
数量效益
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