Who is Financo?
Backed by Crédit Mutuel Arkéa, Financo supports the cooperative model of the banking group and has put its credit know-how at the service of its members for more than 35 years.
“With our headquarters based in Guipavas, near Brest, we are also very anchored in our territories and are keen to play an active role there ,” explains Jean-Yves Kaiser.
The recent status of a mission-driven company, desired by Financo , demonstrates its commitment to supporting environmental and societal transitions . Commitment that shines through in a concrete way among employees and partners , but also on its customers. “ Financo wants to follow a responsible approach. Also, it is important for us to involve our stakeholders in sustainable governance that respects all . ”
How did the collaboration with Meelo begin?
Financo has chosen to use Meelo to combat credit fraud as part of its split payment service.
“I already knew Laurent Kocinski personally in the past and Meelo had already provided consulting services at Financo. So they weren't completely unknown to us ” explains Jean-Yves Kaiser.
“When we launched our split payment service, we looked around the market. We tested Meelo, among other solutions, as part of a POC on our own data. Meelo was identified as the most efficient solution and best suited to our needs. ”
However, the collaboration between Financo and Meelo goes beyond the simple search for fraud security solutions. “We have several points in common, including the desire to be players with a positive on our respective ecosystems ” explains Jean-Yves Kaiser. “What brings us together, in addition to our common and mutualizable , is this parallelism of values.”
Why want to fight against split payment fraud?
Split payment is , by its nature, very exposed to the risk of fraud . In fact, it is more of a means of spreading an expense than a consumer credit strictly speaking, leading to a need to deal with the flow in bulk with, for the moment, few regulatory requirements (which should nevertheless strengthen in the future). Also, when requesting split payment, the data collected and verifiable is minimal. This makes it easier for fraudsters to falsify information or use a stolen bank card. “We have very little information on the buyers, unlike a credit application where we retrieve pay slips, detailed identity information, proof of address,” confirms Jean-Yves Kaiser.
The difficulty therefore consists of cross-referencing a little information in a minimum of time. “ The flexibility that we wish to grant to consumers and merchants requires maximum responsiveness. The granting decision must be made almost instantly with the greatest possible reliability. ”
The partnership with Meelo aims to strengthen the security of the system and identify the most extreme cases of suspected fraud. Which reassures the entire value chain. “ Implementing risk monitoring for split payments allows us to give confidence to our customers and partners. ”
Fraud Score
How does the Meelo solution work?
The Meelo scoring solution Financo 's electronic payment and decision-making system . It works automatically and allows two results to be reported:
- fraud scoring which ensures that the applicant is indeed the person they claim to be;
- risk scoring which predicts the risk of non-payment.
“ It is a decision support tool for Financo. The alerts are raised and the scores are used in real time,” explains Jean-Yves Kaiser. “The information is brief, but sufficiently important and reliable to detect suspected fraud . ”
The solution is innovative and works in self-learning. The model is constantly evolving. Fraudsters are inventive and they move quickly. Financo therefore expects increased vigilance and great responsiveness. This is what Meelo offers. Alerts help remove doubt. The customer can even be redirected to another payment method if necessary. Jean-Yves Kaiser confirms: “ Meelo effectively supports common sense and vigilance with regard to inconsistency, the number one factor in fraud. This is real added value for Financo . ”
How is the collaboration between Financo and Meelo going?
The availability and expertise of the Meelo teams are particularly appreciated at Financo. There is a synergy of skills and mindset: “we speak the same language. ”
The quality of the relationship is excellent. For Jean-Yves Kaiser, Meelo employees are responsive and receptive. “We are dealing with professionals. There are great skills among all our interlocutors. ”
The size of the company is a real plus for Financo, who feels listened to and considered as a client. Finally, Meelo's agility is decisive: “the global solutions offered are innovative and scalable, but Meelo was also able to do tailor-made work with us and co-build the tools on our own data. ”
What are the benefits provided by the Meelo solution?
“ With a hindsight of only a few months, these tools have already brought tangible benefits , but beyond that, what also for us is that Meelo allows us to support our commitments towards a more great responsibility. ” , specifies Jean-Yves Kaiser.
The two companies are committed to consumer protection through innovation and modern anti-fraud solutions which “must not taint the experience of customers who have nothing to reproach themselves for. ”
If the split payment system is intended to be sustainable, it must then be protected and secure. With the Meelo solution, Financo reduces the cost of risk and the burden of fraud, but also preserves the model as a whole so that it is fair and accessible for all. If the security of split payment is guaranteed, then Financo will be able to continue to offer this service to as many people as possible. “By tracking down scammers, we protect other consumers. ”
A great way to endorse the vision of a fairer financing world advocated by Meelo.
