Amid an uptick in fraud across the fintech industry, Experian on Wednesday introduced a fintech-focused version of its Experian’s Hunter network to the United States.

Experian highlighted this new U.S. fintech data network already has participation commitments from nine leading fintechs and is designed to bring a new level of protection to businesses and consumers from fraud.

Experian said the Hunter network will be available in the United States later this year.

Experian said it has a legacy of success in bringing fraud prevention data networks to the market globally. Hunter is used by more than 450 organizations in 24 different countries today across a variety of vertical markets.

Hunter saves clients more than $6.5 billion annually, according to Experian.

Here’s how it works.

This collaborative data network can enable participants to have a line of sight into borrower activity across the fintech industry to match for potential fraud risk. Participants will share fraudulent activity in real-time by contributing data that’s then securely linked across the network.

As fintechs establish new customer relationships or verify existing ones, Experian explained they can inquire against the network and are alerted to suspicious information when matched to other observed fraud events.

Fintechs can then take appropriate action based on the type of fraud risk identified. Experian’s fintech clients will be able to rapidly identify and prevent fraud, improve the customer experience, reduce false-positive referrals, and optimize fraud decision strategies.

On average, Experian said its clients see a 35% uplift in fraud detection when participating in a Hunter network.

“Experian is dedicated to the fintech industry and to delivering innovative, data-driven solutions that can help protect them and the consumers they serve from sophisticated fraudsters,” said Robert Boxberger, president at Experian Decision Analytics in North America. “Our new U.S. Hunter network will harness the power of data and analytics to address real pain points that fintechs experience in combatting fraud.

“By taking a collaborative approach, fintechs can use this additional data to make more informed decisions that enable smart portfolio growth, improve the customer experience, and mitigate major fraud losses,” Boxberger continued in a news release.

To learn more about Experian’s fraud prevention solutions, visit https://www.experian.com/business/solutions/fraud-management.