Posts by Steph Wood
Pepper Money Transforms Lending with Fraud Detection and Automation
Pepper Money is a leading and award-winning non-bank lender in Australia and New Zealand. In just ten years, Pepper Money has grown its Asset Finance business from a small finance provider to one of Australia’s largest asset finance companies. The business has grown its Asset Finance originations rapidly, with $5.7 billion assets under management as…
Read MorePerspective: Liar Loans, Responsible Lending and Document Fraud
By Sean Quagliani (CEO and Co-Founder, Fortiro) The resurgence of concerns about ‘liar loans’ in Australia underscores the critical importance of robust and consistent document verification practices across the lending industry. Responsible lending is not just about compliance. It is about trust, accountability and fairness for consumers. There has been growing discussion about how widespread…
Read MoreDocument Fraud is Costing Insurers Billions – Heres How to Fight Back
The insurance industry faces a persistent challenge: fraud. Document forgery, in particular, is among the most significant threats in the sector. This blog explores strategies to reduce document fraud across the insurance industry, including life, medical, and general insurance. We’ll examine the challenges, quantify the impact, and highlight innovative solutions, including Fortiro, shaping a more…
Read MoreHow MONEYME Detected a $100,000 Fraud Attempt with Fortiro in Just One Week
MONEYME, an ASX-listed digital lender, is redefining access to credit with innovative car loans, personal loans and credit cards. Founded in 2013, MONEYME is growing quickly, expanding its loan book to $1.2 billion in FY24. Autopay, MONEYME’s 60-minute automotive financing solution, has been a key driver of this growth. By leveraging automation and artificial intelligence,…
Read MoreFraud in Automotive Lending: A Growing Challenge and How to Address It
Automotive lenders are facing an unprecedented surge in fraud. Recent trends show a link between the increase in fraud cases and economic pressures like rising living costs and interest rates. Syndicated Fraud is on the Rise However, opportunistic fraud is just one concern. Individual fraudsters and organised fraud groups are becoming more sophisticated, using technology…
Read MoreHow Chief Risk Officers Can Stop Money Mule Scams with Document Fraud DetectionÂ
In the ever-evolving financial crime landscape, Chief Risk Officers (CROs) are increasingly focusing on the emerging threat of scams, especially those involving money mules, alongside traditional fraud detection. Financial crime evolves rapidly, with fraudsters constantly developing new tactics to stay one step ahead. Money mule activity, where individuals act as intermediaries to move illicit funds,…
Read More[New eBook]: How Fraudsters Are Faking Documents to Commit Fraud
This is an excerpt from our exclusive eBook: ‘How Fraudsters Are Faking Documents to Commit Fraud in Australia and New Zealand“. Click here to get the full eBook. “The rising cost of living and interest rates are not only putting a strain on household budgets, they are increasing the risk of loan application fraud across…
Read MoreFortiro Wins Award for Leading Innovation in Document Fraud Detection and AutomationÂ
Fortiro, a leader in document-based fraud detection and financial verification, has received the prestigious “Startup of the Year” title at the 2024 Startup Daily Best in Tech Awards. The award highlights Fortiro’s role in revolutionising document fraud prevention and reducing friction for customers, brokers and financial services businesses. Fortiro has set new standards by helping…
Read MoreHow Bank Australia Achieved Faster Loan Approvals with Built-In Protection Against Fraud
Bank Australia was founded in 1957 as the CSIRO Co-operative Credit Society. In 2011, they joined 71 credit unions and co-operatives to become Australia’s first customer-owned bank. In 2015, Bank Australia was formed. Unlike traditional financial institutions, Bank Australia is owned by its depositors and borrowers, not by external shareholders. As a result, Bank Australia…
Read MoreFortiro is Now an AWS ISV Accelerate Partner
Fortiro, a leader in document fraud detection and financial verification, today announces it has become an Amazon Web Services (AWS) ISV Accelerate (ISVA) Partner. By becoming an ISV Partner with AWS, a global technology leader, mutual Fortiro and AWS customers can benefit from enhanced services, faster solution development, and a range of procurement and financial…
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