In comparison to nationwide financial institutions, credit unions have an inherent advantage; they understand the local economy and the financial …
HOW DIGITAL LENDING IMPROVES THE CUSTOMER JOURNEY FOR BANKS
Banks have mastered the digital process for many of their services. Today, it’s not unusual for a bank’s customers to …
AUTO LOAN ORIGINATION BEST PRACTICES FOR CREDIT UNIONS AND BANKS
Loan origination best practices benefit both consumers and lenders. After years of developing, delivering, and supporting lending systems, we at …
AUTO LOAN FRAUDS: TIPS FOR IDENTIFICATION AND PREVENTION
With technology growing and evolving by the second, fraud is more prevalent than ever. In its July 2020 white paper, …
TO REDUCE CREDIT RISK, TAKE ADVANTAGE OF THE LATEST LENDING INNOVATIONS
How do you effectively reduce credit risk? Some lenders use manual risk assessment tools, portfolio management spreadsheets, and even good …
INTEGRATED BANKING FRAUD DETECTION SOFTWARE
With seismic enhancements in fraud detection software, banks can now catch fraudsters quicker while improving the flow of non-fraud borrowers. We’ve detailed the reasons why financial institutions should upgrade, along with eight fraud detection software must-haves for your organization.
ACCOUNT TAKEOVER FRAUD PREVENTION FOR LENDERS
In an account takeover, an individual or well-organized cartel obtains access to a consumer’s account, changes login credentials or personal data, then makes unauthorized transactions using that account. Unauthorized purchases, transfers of funds, and cancellation of payments can quickly lead to financial ruin for the consumer and reputational damage for the business that failed to prevent it.
THE BEST BANKING FRAUD DETECTION FOR LENDERS
The ease of committing fraud using online resources has made banking fraud detection necessary for loan origination.
HOW LENDERS CAN PREVENT LOAN STACKING
Loan applications are often sent to multiple lenders simultaneously. The action is called loan stacking, and it can help address a legitimate need for quick funding, or to perpetrate a scam that brings quick funding with no intent of complete repayment.
LENDING FRAUD ANALYSIS: HOW THE PROS DO IT
One recent lending fraud analysis estimated that one in 123 mortgage applications, or 0.81% of all applications, contained indications of fraud during Q2 2019, compared with one in 109, or 0.91% in Q2 2018.
