Let's play a game. You are in charge of a large pile of cash and want to make it grow by giving loans. Each day, two people apply, and you can give out one loan (you will have to rank the applicants). When people de-fraud you, you lose all of the loan. When people don't or can't pay you back, you lose all of the loan. When people pay back the loan, you make a little money.
Day1: User Agent: iPhone latest vs. Windows XP
Day2: Referral: Facebook friend vs. search "cheapest loans"
Day3: Time of interaction: 21:30 vs. 04:30
Day4: Email: [email protected] vs. [email protected]
Day5: Funnel: Someone who spend 10 seconds vs. someone who spend 10 minutes, made a mistake in the name, entered an email address, then deleted it, and entered another email address at a different provider.
Now if your feeling does not point you to the first applicant every day, you look at the data for guidance. You find that the number of fraudsters and non-pay's is statistically significantly higher for people with the second set of characteristics.
The alternative is to use third-party data providers. That's another can of worms. Or flip a coin and start gambling proper.
Day1: User Agent: iPhone latest vs. Windows XP Day2: Referral: Facebook friend vs. search "cheapest loans" Day3: Time of interaction: 21:30 vs. 04:30 Day4: Email: [email protected] vs. [email protected] Day5: Funnel: Someone who spend 10 seconds vs. someone who spend 10 minutes, made a mistake in the name, entered an email address, then deleted it, and entered another email address at a different provider.
Now if your feeling does not point you to the first applicant every day, you look at the data for guidance. You find that the number of fraudsters and non-pay's is statistically significantly higher for people with the second set of characteristics.
The alternative is to use third-party data providers. That's another can of worms. Or flip a coin and start gambling proper.