Finovox x Meelo: a partnership in the fight against fraud

Finovox is a French start-up specialized in the detection of false documents. The Finovox solution reduces the risk of document fraud by 6 by analyzing and instantly verifying the authenticity of any type of document, whether standardized or not. It is therefore quite natural that Meelo and Finovox have found effective synergies to fight against fraud and the risk of non-payments. Explanations through the joint interview with Marc de Beaucorps, CEO of Finovox, and Maxence Pruvost, Head Of Sales at Meelo.  

‍Why try to fight document fraud?

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Document fraud is everywhere

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Identity papers, pay slips, employment contracts, bank statements, tax notices... the document fraud is everywhere. It seems to have become a real national sport, and “even international”, says Marc de Beaucorps. It costs no less than 40 billion euros per year to businesses and communities.

All business sectors are concerned: banking, insurance, mobile telephony, mobile telephony, real estate, real estate, recruitment, social organizations, customs services... The figures speak for themselves and are constantly increasing. In rental real estate files,” one file out of two would contain at least one falsified document ”, explains Maxence Pruvost. In the insurance field, nearly 20% of respondents to a study commissioned jointly by Yougov and Le Lynx in 2021, said they had modified documents to defraud their insurer. ” They were only 11% in 2020, which proves the marked increase in this practice ” according to Marc de Beaucorps.

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Businesses and communities looking for solutions

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In this context, more and more companies are looking for reliable solutions that save them time. The document control is a time-consuming activity and one that requires training. Both partners are unanimous:” it takes up a lot of time for the audit services. ”

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The hyper-digitalization of organizations makes the task even more complicated. The number of documents exchanged by email or digitally is increasing every day. Businesses are not always staffed accordingly and, paradoxically, most processes still require a lot of documentary verification. As a result, even structured services cannot control everything and, due to lack of time, allow falsified documents to pass.

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” Document fraud is a constant stress that many institutions cannot absorb. ”, specifies Marc de Beaucorps. Not to mention the real risks of leaving feathers there. It is a major threat that ranges from simple financial damage to the disorganization of internal processes and can lead, in some serious cases, to bankruptcy. ” This was the case with Urica, a British factoring company based in France. A massive fraud involving the false invoice of several million euros, perpetrated by a farmer, forced the firm to suspend its activities overnight and file for bankruptcy. ”

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If the cases of document fraud are multiplying, explains Maxence Pruvost, it is also because” falsifying documents in a file has never been easier. ” Between intuitive software and online tutorials, counterfeiters are spoiled for choice. There are even sites that sell fake documents online: fake pay slips, fake diplomas, fake employment contracts... Everything can be bought today for a few euros. Detecting forged documents can be difficult. The document may appear to be compliant, but it is not.

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The final difficulty, adds Marc de Beaucorps, is that, even when fraud is detected,” In the end, the sanctions are quite limited ”, opening the door to a certain feeling of impunity.

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Why partner with Finovox to offer an efficient and turnkey solution?

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Finovox is a solution of detection of false documents. It makes it possible to analyze a large volume of parts in less than 5 seconds, without language or format constraints. It replaces tedious visual checks and speeds up the process of detecting anomalies.

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The advantage of Finovox, It is because it not only alerts on the presence of errors, but is able to generate a complete report that details:

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• the specific location where the document was amended;
• the date of the change;
• the software that carried out the forgery.

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It is therefore an innovative solution that allows Meelo to maximize its performance and to deploy its solution in an optimal manner to all its users.

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It is offered to customers in two forms:

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• a SaaS platform: Finovox Investigation, on which users upload their elements in order to detect those on which there is an alert and to obtain an evidence report;
• an API: Finovox Detection which is integrated directly into information systems to continuously and automatically analyze all the documents that pass through companies.

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Meelo, for his part, decided to integrate it into his own solution and to offer it systematically to his customers

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What are the fundamentals of the collaboration between Finovox and Meelo?

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An alliance based on shared values

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3 values characterize the Finovox/Meelo alliance:

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✔ ︎ The first is the transparency and the desire to be 100% committed to collaboration. ” You either believe it or you don't believe it.”, explains Marc de Beaucorps. ” There is a real desire to share and succeed in our two companies..”

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✔ ︎ The second is theexcellency. ” At Meelo, it's about offering the best solution and the best service ”, details Maxence Pruvost. ” We are demanding both with ourselves and with others. Everyone should be committed to doing their job well.”

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✔ ︎ The third, finally, is that the combination of our skills serves numerical goals which are clearly shared by all. ” Again, our vision is shared. The aim is to reduce fraud globally and for this reduction to be virtuous and profitable for all.”

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An effective partnership at the service of the performance of organizations

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” Our solutions are complementary ”, explains Marc de Beaucorps.

” Meelo is based on data. This is a real plus and a reliable and innovative analytical response to the problems posed by financial fraud. Our tool specialized in the detection of false documents makes it possible to reinforce the effectiveness of Meelo on this particular aspect of fraud..”

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The two companies therefore logically set up an exclusive partnership, considering that they were, for each other, the most relevant partners.

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To maximize the beneficial effects of collaboration, the Finovox and Meelo teams work together on a daily basis and keep up to date with updates to their respective products, the development of new functionalities or even feedback from their customers.

A fruitful collaboration at the service of users in order to save them both time and money.

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