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 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 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…
Read MoreHow to Combat Invoice Fraud in Lending and Asset Financing
Invoice fraud is complex. There are many ways fraudsters use invoices to scam lenders and consumers. In 2023, Australians reported $91.6m in payment redirection scams. Invoice fraud in asset financing occurs when a borrower or vendor submits false or inflated invoices to secure funding from a lender. This can include: This article discusses these types…
Read MoreUnlocking Efficiency: CCCFA Changes Transform New Zealand LendingÂ
In a significant shift for lenders in New Zealand, the Credit Contracts and Consumer Finance Act (CCCFA) is changing to streamline and simplify income verification to support responsible lending. The CCCFA legislative reform presents a new opportunity for lenders, moving towards a more efficient system focused primarily on income verification. What’s Changing? The most notable…
Read More[Video] Identifying and Reducing Life Insurance Fraud with Hannover Life Re of Australasia
In an earlier piece, we spoke with Amy Sworden, Head of Claims Operations at Hannover Life Re of Australasia (HLR Aus), on their collaboration with Fortiro to tackle fraud in Life Insurance. In the below video, Amy explains how the collaboration evolved and some of the results achieved throughout the journey. Amy Sworden: “My name…
Read MoreHannover Life Re of Australasia Tackles Insurance Fraud With Fortiro
Australia faces a significant challenge regarding insurance fraud. Insurance industry figures put the estimated range of fraudulent claims as up to 10% of total claims in Australia. Total Permanent Disability (TPD) and Income Protection insurance, which offer payouts to policyholders who are permanently disabled or unable to work, can be particularly susceptible to fraudulent…
Read MoreFortiro Secures FinTech Award for AI and Recognition for Innovation in LendingÂ
MELBOURNE, AUSTRALIA – 30 APRIL 2024 Fortiro, a leader in document fraud detection and financial verification, today announces it has been awarded the ‘Best Use of AI in FinTech’ at the 2024 FinTech Awards. Fortiro also emerged as a finalist in the ‘Best Innovation in Lending and Home Loans’ category. These accolades underscore Fortiro’s unwavering…
Read More