The Vendor is required to provide a comprehensive student identify verification and fraud detection software solution.
- Provide to identify, prevent, and mitigate fraudulent activities in the admissions and financial aid processes, ensuring compliance with all applicable federal, state, and institutional regulations while safeguarding both institutional and student interests.
- Detect and flag fraudulent behavior in admissions, financial aid, and other student services.
- Monitor and alert in real time on suspicious activities.
- Seamlessly integrate with existing platforms, including colleague, county recruit (CRM), and other institutional systems.
- Provide accurate, actionable reporting and analytics for data-driven decision-making.
- Potentially be a part of, or integrated with, an identity verification solution.
- Provide a comprehensive, end-to-end student fraud detection software solution encompassing the following core areas:
1. Fraud detection capabilities
• Behavioral analytics: detect patterns such as duplicate demographics (e.g., shared phone numbers, emails, IP addresses, out of state addresses), irregular activity (e.g., all caps text, irregular access hours), group submissions, and conduct dark web scanning.
• Geolocation ability: match user location with provided addresses to identify inconsistencies.
• Financial fraud: identify suspicious activities related to tuition payments, scholarships, financial aid applications, and refunds processing.
• Admissions and enrollment fraud: detect falsified credentials, identity theft, and misrepresentation in applications.
• Automated screening: auto-validate applications, financial documentation, and supporting materials.
• AI & machine learning: leverage advanced technologies to detect emerging fraud patterns and improve accuracy over time.
2. Software features
• Real-time monitoring: instantly detect and notify staff of suspicious activity
• Data integration: ingest and analyze data from sis, CRM, and third-party sources.
• Customizable rules: tailor fraud detection criteria based on institutional policies.
• Advanced analytics and dashboards: provide visualizations and trend analysis for internal decision making.
• Data validation: cross-verify student information against authoritative sources and/or databases (e.g., IRS and SSA).
• Intelligent algorithms: use both rule-based and AI-driven models to detect:
○ Identity theft
○ Falsified or altered documentation
○ Fake or “ghost” student enrollments
○ Misreported income or household details
○ Behavioral trends indicating fraudulent intent or behavioral red flags (e.g., failing grades, withdrawals)
• Student pattern analysis: use tools to distinguish real students with financial needs from fraudulent applicants
• Billing transparency: clearly communicate pricing structures and how frequently student records are reviewed.
3. Real-time alerts and notifications
• Real-time notifications for designated staff
• Configurable alert thresholds based on risk profiles
• Issue alerts for suspicious activity and provide detailed reports to support investigations
4. Reporting and analytics
• Detailed case-level reporting and investigation history
• High-level dashboards for fraud trend monitoring and decision-making
5. User access and permissions
• Data security: ensure secure and segmented access to sensitive information
• Role-based access control (RBAC): support customizable access for different user roles (e.g. administrators, investigators, financial aid staff) to ensure proper segregation of duties and data security.
6. Integration capabilities
• Seamless integration with existing institutional systems, including:
○ Student information system (SIS): colleague by county
○ CRM system: recruit by county
○ Financial aid platforms
○ Government databases for eligibility verification
7. Audit trail and documentation
• Maintain a complete and unalterable audit trail for all interactions with the fraud detection system.
• Capability to generate forensic reports for investigative purposes.
• Maintain logs of system activity, actions taken, and case outcomes; ability to add comments, notes, findings and resolutions to records.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: May 23, 2025