AI-Powered Fraud Elimination
Educational institutions are inundated with applications each year, often making it challenging to process them promptly for the start of the school year. Many are unaware that a significant portion of these applications could be fraudulent, creating a strain on resources as staff work to discern legitimate from fraudulent submissions—a time-consuming and costly process. This inefficiency not only leads to financial losses but also allows fraudsters to misappropriate funds and take seats from deserving students, thereby impacting the institution’s mission to serve qualified applicants.
The LightLeapAI™ Fraud Elimination Module offers a robust solution, purpose-built to identify and prevent fraudulent activity with accuracy and speed. By leveraging advanced machine learning algorithms, this module continually monitors applications and behavioral patterns in real-time, detecting anomalies and suspicious actions before they escalate. Customizable to the unique needs of educational institutions, it minimizes false positives, enhancing operational efficiency and ensuring a seamless experience. Equipped with tailored alerts and in-depth analytics, the module empowers institutions to uphold their integrity and secure their resources effectively.
By adopting the LightLeapAI™ Fraud Elimination Module, institutions take a proactive stance on financial protection and reputation management. The module offers powerful safeguards against financial fraud, including FAFSA-related scams, by identifying unusual patterns swiftly and accurately. With configurable options specific to the educational sector, it allows administrators to focus on real threats, thus optimizing their efforts. Moreover, it reinforces compliance with regulatory standards, supporting transparency and trust. Through this advanced fraud detection technology, universities can provide a secure environment for students and staff, protect their assets, and foster a culture of accountability.
Safe and Secure Fraud Elimination
LightLeapAI™ comes with proven leadership and commitment of executives and staff at N2N Services Inc.
Founded in 2010, N2N Services Inc. is committed to transforming higher education through the power of innovation, technology, and end-to-end transformation. Launched in 2016 – N2N’s Flagship product, Illuminate (https://www.illuminateapp.com/), is now used by over 450 educational institutions worldwide and processes about 3,000,000 transactions per day.
N2N has been a SOC2 Level 2 Organization since 2019, and we take the security of our customer data extremely seriously. While we innovate at the speed of light, we do so with a focus on customer data security and absolute attention to each student's FERPA privacy protections. You can see our full privacy policy here.
The launch of LightLeapAI in early 2024 was a culmination of N2N’s journey over the last 15 years to integrate student data, learning data, and administrative information system data into a seamless user interface without complex screens, unwieldy pages, and inflexible portals. Fraud detection is the first of many innovations that integrate our safe and secure integrations with an innovative approach to solving complex problems plaguing higher education.
Before you select your next partner for AI or Fraud Detection, please ask us (and them) some difficult questions:
Are you Safe? How do you provide data security to our FERPA data?
Are you Secure? What are you doing to protect our data from fraudsters?
Are you Trustworthy? Do you have the needed collaborations with leading SIS providers in higher education?
Using lightleapAI and the N2N Illuminate platform encourages collaboration within districts and with other CCCs. Sharing information on fraud patterns, bad actors, and blacklisted data (IP addresses, SSNs, phone numbers, etc.) enhances detection mechanisms across the California Community College system.
If successful, a future scaling scenario can create an enhanced network effect allowing lightleap to identify fraud once in a single institution, and then to detect and identify the same bad actors across institutions.
Patent Pending AI/ML Model to Detect and Eliminate Fraud
Built in Collaboration with Higher Education
Some clusters identified may be based on demographics or metadata, such as applications or registrations sharing an IP address or similar characteristics. Other clusters may leverage intelligence that links multiple accounts using metadata, behavioral characteristics, engineered data fields, and other information used to train the AI model.
Types of Clusters
Multiple Applicants from the same IP Address - Multiple applicants being created and sent from the same IP address.
Multiple Accounts from the same Application and Behavior - Multiple accounts being created with same behavioral patterns and across all applications with fraudster data
LightleapAI™, N2N Services’ AI-powered analytics and fraud detection platform, is designed to integrate seamlessly with any SIS, leveraging N2N’s core middleware platform, Illuminate.
N2N Services, the parent company of LightLeapAI, has deep collaborations with Ellucian, Workday, Anthology, and other leading providers of Student Information Systems. You can see more information here (https://www.n2nservices.com/higher-education).
This means LightleapAI™ can work with any SIS that N2N supports, including both modern cloud-based systems and legacy on-premise solutions. Some SIS include:
Ellucian Banner
Ellucian Colleague
Anthology
Oracle Peoplesoft
Jenezabar
Workday Student
PowerCampus
Custom SIS platform
LightLeapAI’s Fraudulent Elimination utilizes 100s of features and facts based on the admissions, enrollment, and financial data provided by the applicants, coupled with our internal, patent pending AI/ML model to detect Fraudulent applications
Fraud Cluster Identification
Over 93% Fraud Capture Efficiency
The aim of LightleapAI™ fraud elimination is to eliminate fraudulent applications before they receive financial aid to provide faculty and staff more time and capital to use their resources for what's most important.
