Posts by David Weber
Four common ways fraudsters create fake income documents
When it comes to deceiving lenders, fraudsters have a few tricks up their sleeves. Document fraud poses a significant threat to lenders and financial institutions, as fraudsters continue to employ various techniques to deceive and secure funds under false pretences. We’re not just talking about identity documents. Financial documents such as payslips, bank statements, tax…
Read MoreDoes automated income document verification really work?
Payslips, bank statements and tax assessments remain a prevalent method for income verification due to their widespread use and acceptance by lenders. Yet, the process of manually reviewing income documents is time-consuming and hampers fast decisions. Automated document verification fills a crucial gap by providing a practical and accessible solution to streamline processes, reduce manual…
Read MoreStop identity fraud with income document authentication
Data breaches continue to become more and more common. The highly publicised Australian telco data breach drew a heightened focus on identity protection and identity fraud. There are many ways for fraudsters to get hold of personal data – whether it’s purchased online, a payroll breach, a targeted personal attack or a malicious insider. PwC’s Global Economic…
Read MoreWhy lenders need to automate income document verification
Never before has it been more important for lenders to process loan applications quickly. Growth, new customer acquisition in particular, is driven by a seamless and fast lending experience for borrowers, brokers and bankers. Borrower and broker expectations are changing The loan application process was something which applicants were previously comfortable taking up to ‘months…
Read MoreLooking out for fake, falsified, fraudulent bank statements
Whether you’re working in banking, lending, payments, insurance, property management or even government, you’re likely to need applicants, customers or citizens to provide bank statements for verification purposes. How do you make sure these statements are legitimate? We’ll explore some of the challenges, giveaways and solutions available to identify high-risk statements to protect you from fraudsters.…
Read MoreWhat is the difference between Fortiro Protect and Fortiro Accelerate?
Both solutions, Protect and Accelerate, are Software as a Service (SaaS) products, purpose-built to automatically scan, read and analyse proof-of-income documents. Fortiro Accelerate Why organisations use Accelerate To automate manual reviews performed on income documents, such as: How Accelerate achieves automation Through proprietary methods and technology, purpose-built for this use case, allowing Accelerate to reliably:…
Read MoreAnnouncing redaction at scale for brokers & lenders
Fortiro, the leader in enterprise document verification and fraud detection, has launched a fully automated document redaction capability; to protect sensitive data and inspire trust between businesses and customers. The capability launch comes at a time when there is a heightened awareness of data security risks by both applicants and custodians of personal information. Redaction…
Read MoreCan income verification be automated?
Income verification and other manual document reviews have long been a bottleneck for mortgage, credit card and personal loan applications. Can technology automate this difficult but critical application processing step? Let’s talk income verification. Every day we meet leaders who are on a mission to grow their organisation by automating the verification of income documents.…
Read MoreAnnouncing our FileInvite partnership
Fortiro and FileInvite have combined forces to provide real time document verification and fraud detection to automate loan processing for Australian and New Zealand banks, brokers and borrowers. The partnership comes at a time banks, brokers and lenders are in a competitive market with rising inflation and interest rates, where fast turnaround times, reduced requests…
Read More