Combating fraud and unpaid payments is the target of Meelo, a fintech firm based mostly in Lille and based by three entrepreneurs: Laurent Kocinski, Mohamed Hadiri and Jérôme Lascombe. The primary spent 15 years in client credit score corporations, the second is an knowledgeable in preventive dangers and the third is the co-founder of the Hopscotch company and Wiztopic. “The creation of Meelo was born out of a two-fold observation,” defined Laurent Kocinski in a preamble. “In France, fraud and irregularities, such as unpaid bills or identity theft, cost $6.74 billion (€6 billion) a year. Yet only 1% of customers turn out to be bad payers.”
This statement results in one other one. In response to Laurent Kocinski, all of the instruments at present utilized by corporations are based mostly on these dangerous payers. In different phrases, the combat in opposition to fraud and the chance of non-payment tends to exclude atypical profiles or these wrongly thought of as much less reassuring, even when they pay their payments properly. This discriminatory method additionally represents an actual lack of enterprise for professionals. “Our core business is to identify good payers,” insisted Laurent Kocinski. “It’s all a question of balance: we have to make commitments more responsible in order to combat excessive debt without closing access to young people and workers who are not on permanent contracts.”
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Synthetic intelligence used to determine a buyer’s profile in actual time
Meelo has, subsequently, developed a device to safe transactions, establish potential fraudsters and predict the chance of non-payment. Its expertise relies on synthetic intelligence methods to determine a buyer profile in real-time. It takes under consideration knowledge collected from the corporate – corresponding to buy, shopping, and fee historical past, declarative knowledge supplied by the shopper or exterior knowledge, corresponding to public info accessible on-line.
“That’s 300 pieces of information per customer, both private individuals and companies, which allow us to establish a scoring.” Laurent continued: “Take the case of property rental. The first criterion is to earn three times the amount of rent. However, just because you earn (€10,000) every month doesn’t mean you’re a good payer. The model is based on a combination of criteria that makes it possible to determine in real-time the good payers, the bad payers… but also those who require additional research.”
Fraud administration is predictive and makes it potential “to divide the risk of fraud by three,” in accordance with the startup. A picture and character recognition device, related to a web site’s interface, additionally makes it potential to research supporting paperwork routinely and in real-time. “Meelo processes the documents and then provides a decision,” mentioned Laurent Kocinski. And when the training machine suggests further checks, for instance, to confirm the existence of a buyer by calling him, the human takes over.
Saving time for groups and prospects
This method appealed to Boulanger Location, a subsidiary of the distributor Boulanger specializing within the rental of digital merchandise or family home equipment. The subsidiary had formalized a partnership a little bit over a yr in the past, however manufacturing was delayed because of the COVID-19. Operational since June, it has been applied inside the buyer journey, on the buying cart and fee phases. “The tool was co-developed with us, we were its first users and we spent a lot of time on it,” defined Guillaume Caron, the supervisor of Boulanger Location.
Meelo permits the groups “to evaluate the ability of customers to use rental quickly and fairly,” continued Guillaume Caron. The model gives 1,300 references for hire, from a washer to a smartphone and tv, for intervals starting from 1 to three years. An eco-responsible positioning, which can be to be linked with the granting of merchandise for hire. “Refusing to rent to a customer who cannot pay is also proof of responsibility.” Certainly, the legislator asks corporations to strengthen the solvency research (mortgage, hire, subscriptions…) whereas limiting using private knowledge.
80,000 merchandise are at present leased. By processing supporting paperwork in an automatic means, the device additionally improves the productiveness of groups who can spend extra time on value-added duties. “It also saves time for the customer,” mentioned Guillaume Caron. Nonetheless, not at any price. Every request is supervised by a member of workers, who defined why the acceptance of a file is just not fast. “It is above all a tool to help, which does not replace the human eye,” he insisted. “We have professionalized their preventive risk chain,” added Laurent Kocinski.
The lodging on French territory
At the moment, the fintech firm’s shoppers embody banks, insurance coverage corporations, e-merchants and has attracted Apple, Decathlon, LeroyMerlin, Cardif, Cleodis and Sofinco. “We establish a diagnosis for each client, with a turnkey solution or modules interrogated through APIs,” Laurent Kocinski defined. It additionally hopes that its RGPD-compliant resolution, with internet hosting and storage in France, can be a robust argument in opposition to worldwide opponents.
In a post-Covid context, Meelo’s device is all of the extra related. Corporations have seen on-line gross sales improve and are extra involved about it. Fraud can be on the rise, whereas on the buyer facet, the deterioration of buying energy ought to lead professionals to not “close the floodgates”, continued the founding father of Meelo. The younger firm employs a dozen individuals and doesn’t rule out elevating funds to strengthen its place in France.
(Featured picture by StockSnap by way of Pixabay)
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