How S.A.F.E can Help Colleges Reduce Fraudulent Applications

Fraudulent applications have become a sore subject within the higher education industry. As per the latest reports, the total number of fraudulent applications is expected to reach 200,000 this year, leading to a potential loss of $500 million in supporting talented students with financial constraints.

To make things worse, the previous year’s report by California and the highly publicized case from Salt Lake Community College have everyone on edge. Colleges and universities are considering restructuring the application process to minimize future scams.

Restructuring is a reasonable consideration, but it is not the only one. Higher education institutions must leverage modern technology to filter out fraudulent applications accurately. Luckily, they have access to S.A.F.E., a software designed for the purpose.

How S.A.F.E. can Help Colleges Reduce Fraudulent Applications

S.A.F.E. is a fraud detection software that uses A.I. technology and machine learning to detect and remove fraudulent applications from the system. The software has several features that enable it to achieve this goal, and the most important ones are mentioned below.

1.      A.I.-Based Scam Screening

Artificial intelligence is one of the leading technologies driving the shift towards progress and development. Incorporating this technology in S.A.F.E. allows the software to screen submitted applications, compare them to records, and intelligent leverage algorithms to detect similarities with fraudulent applications.

Its results are highly accurate and help colleges avoid approving scam applications.

2.      Machine Learning

Machine learning is an extension of A.I. technology and is responsible for reprograming the system in light of new knowledge. It consistently evaluates data and can detect new patterns, incorporating them into the system for future reference.

This feature allows it to keep up with changes in fraudulent applications, enabling the system to catch them even if they revise their strategy.

3.      International Verification

Most databases have extensive information on national applicants but limited data on international ones. Our software is integrated with relevant national and international databases, leveraging them to verify the identities and backgrounds of foreign applicants.

This authentication is critical for colleges inviting international students because it helps them avoid approving the wrong candidates.

4.      Suspicious Activity Identification

The best part of the software is that it can often detect suspicious activity outside application screening. Its database integration allows it to sense applicant data profile irregularities and highlight them during reporting.

It monitors 24/7, so you can rest assured that it will not miss any detail.

5.      Record Generation and Reporting

S.A.F.E. has a secure database that stores all the information from applications to verify information and track trends. It has an efficient and systematic process for data organization and leverages in-built mechanisms to generate routine reports.

These reports provide information and insights about detecting fraudulent applications, highlighting trends, and presenting predictions. The knowledge can help colleges set up relevant systems in advance to minimize the chances of receiving scams.

6.      Protects Against Financial Loss

Lastly, S.A.F.E. is instrumental in helping higher education institutions avoid losing money to support deserving students. These scams typically target Student Aid, which are government grants for students, so losing them wastes taxpayer money.

Additionally, each approved scam application takes away a real student’s chance of receiving the necessary support for their education and future.

Benefits of Incorporating Fraud Protection Technology

Fraud protection technology is critical for the future of higher education, and the following are its top benefits:

1.      Reliable and Trustworthy Results

Tools like S.A.F.E. have a reputation for their high accuracy, and their results are considered reliable. Therefore, choosing it will give you an automatic certificate of authenticity for application processing. This validation is essential since it will promote an image of reliability and trustworthiness to your stakeholders.

2.      Efficient Application Processing

The increase in fraudulent activity has led colleges to spend more time screening each application causing delays. However, S.A.F.E.’s quick, accurate, and organized application review system helps avoid delays and preserves the institute’s reputation.

3.      Opportunity to Increase Awareness

S.A.F.E. is the only technology of its kind in the market, so using it is a novel experience. You can also take this opportunity to spread more awareness about the rise in fraudulent applications, rallying related industries to find an efficient solution.

Wrapping Up

In short, S.A.F.E. is an A.I.-based advanced software that can use its learning and trend detention to remove bot-driven or fraudulent applications. It will help you keep the application process efficient and effective.

Don’t hesitate to get in touch with us or schedule a demo to learn more about this software and the value it has to offer.

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