Venture: Coins.ph
Coins.ph provides customers with direct access to basic financial services such as remittances, bill payments, and mobile airtime.

Expert: Alok Bhanot
• CTO of VeriFone
• CEO of Inkiru
• VP Risk of PayPal
• VP Corporate Architecture of eBay

 

Coins.ph partnered with a leading payments technology executive to better use data to combat fraud

Coins.ph’s mobile-first, branchless, blockchain-based platform provides customers with direct access to basic financial services such as remittances, bill payments, and mobile airtime. Through its partnerships, Coins has created a network of last-mile retail outlets, consisting of over 22,000 cash disbursement and collection locations in the Philippines, and has signed up over 500,000 customers.

Coins.ph’s top priority was better using data to protect against fraud as it scaled its business to reach more end users. Coins.ph partnered with Rippleworks to structure a customer scoring system that fully utilizes its data, including social data, customer behavior data, and customer submitted data.

Through its partnerships, Coins has created a network of last-mile retail outlets, consisting of over 22,000 cash disbursement and collection locations in the Philippines, and has signed up over 500,000 customers.

Coins.ph teamed with Rippleworks Expert Alok Bhanot, who has built robust data-driven fraud detection platforms as the CTO of VeriFone, CEO of Inkiru, VP Risk of PayPal, and VP Corporate Architecture of eBay. Together, they:

• Defined technical capabilities for an end date fraud platform, including the architecture and predictive models for decisioning

• Defined framework for how Coins.ph should approach fraud detection: technology capabilities, product features, and business processes & metrics

• Reviewed fraud cases to grow sample data sets to improve accuracy and prediction

• Applied 68 variables through a logistic regression algorithm

• Defined and created first order and second order reports based on probability defined from prior cases

• Began applying the new fraud detection approach to evaluate and take action against fraudulent cases

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