Incidents of identity fraud rose to sixteen-point-seven million in 2018, a significant year-over-year increase. With emerging technologies disrupting the financial services marketplace, digital lenders are a primary target for fraud.
Risk analytics solutions are critical in overcoming these challenges in three ways:
One: Gain a broader customer profile. By digging deeper into borrower data, analytics systems can identify problematic information and flag potential fraud.
Two: Improve identity verification. Big data lets you check a wider range of identity verification points, which simplifies authentication.
Three: Accelerate analysis. Slow loan approval processes can leave minimal time for fraud prevention. By automating lending analysis, workers can put more resources into security-related tasks.
Lenders need better tools to stay ahead of threats, and GDS Link provides the holistic risk analytics platform needed to gain keep fraud at bay.