Abra, a bitcoin-based digital currency wallet app provider was seeing an increase in new account openings with the boom of cyrptocurrency and decided to strengthen their machine learning fraud detection model in order to help guard their business against the risk of chargebacks. They chose Whitepages Pro Identity Check API as a new addition to their fraud model arsenal.
Abra is an app that allows users to manage their Bitcoin and Ethereum investments – users can buy and store Bitcoin as well as exchange Bitcoin for any other fiat currency or cryptocurrency that’s supported in the app. The app also allows users to track the progress of their cryptocurrency and fiat currency investments.
Why look for new sources of identity data?
Ivan Galli, Abra’s VP of Operations, and Ryan Chiu, Senior Business Analyst at Abra, told us “the model relies on a wide set of data provided by various vendors, and before Whitepages Pro, our analysts realized that the signals returned by the various vendors had slightly different values and each service only provided a particular signal in the broader set of details. We wanted to analyze more details of the data, to supplement the information that was being fed into our fraud detection model.”
After researching data vendors, Abra chose Whitepages Pro and integrated the Identity Check API with their model. Whitepages Pro was implemented along with their other vendors giving the company the ability to better identify their users.