SecondLook 2

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  Storyboard: User involved in a romance fraud becomes aware of the risks associated with their P2P payment

Has your close family member ever told you they are in a relationship with Ryan Gosling through social media? And that Ryan Gosling is asking them for hundreds of thousands, of dollars? Well, I have. Especially in my case, 750 grand vanished in the air. These Ryan Goslings know how to find and target vulnerable people, and I was frustrated with the lack of preventative methods which empower users to make an informed decision. It made me realize the importance of awareness in prevention, and that is why we present SecondLook.

We found that this awareness can make a significant impact for P2P transactions. By asking our mentors, we have identified that there is a risk analysis system in the backend which outputs a score and, based on a threshold, schedules, declines, or adds the transaction to a review queue. There is a gap in user understanding regarding transactions that are queued to be manually reviewed by employees, because this information, including risk factors, are not shared. Members will think that their payment is properly scheduled based on the mobile interface they see, causing confusion when employees call them about their transaction. Some may even think that the employee call is fraudulent. In the case that the member did not receive a call due to employees being at capacity, members do not receive any information about the risk of their transaction at all.

We want to bridge this gap. By providing an API that will present a confidence score based on concrete facts, users are empowered with information that allows them to acknowledge the possible risk associated with their transaction to make better, informed decisions. This will not only protect our members’ safety, it will mitigate confusion between Sound Credit Union and our members, ultimately building trust.

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