Fortiro Wins Award for Leading Innovation in Document Fraud Detection and Automation 

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 Australia’s leading banks, non-bank lenders, insurers, payment providers and gaming companies automate document fraud checks and financial verification. Partnering with Fortiro, Australian financial services institutions are reducing fraud losses and achieving a faster ‘time to yes’ for their customers. 

Fortiro was recognised for its innovative technology, the important challenge it solves, and impressive growth. The judges were particularly impressed by Fortiro’s enterprise clients, its use of AI, and success across all areas of the business. 

“The ‘Startup of the Year’ is one of the most hotly contested categories, with more than 40 entries.”, Startup Daily editor, Simon Thomsen said. 

“What impressed the judges about Fortiro is it’s solving a problem that’s now costing billions of dollars in terms of financial fraud. It uses artificial intelligence in a clever way to detect issues such as document tampering and saves time for both financial institutions and customers. Add a strong growth story alongside a disciplined approach to costs and an enterprise client base and it’s clear Fortiro is building a winning combination for its future success”, Thomsen added. 

As a trusted partner to Australia’s leading financial services institutions, Fortiro’s solutions help streamline key processes that traditionally rely on supporting documents such as automating the approval of loans and insurance claims. By removing the need for manual reviews and ensuring document authenticity, customers enjoy faster payouts, while lenders and insurers gain a competitive edge through an improved customer experience.  

Fortiro’s technology has been instrumental in helping financial services institutions such as Pepper Money and Bank Australia enhance their fraud detection and automate key processes, enabling faster loan approvals. 

“Winning this award is a testament to our relentless focus on innovation and our commitment to solving critical industry challenges,” said Sean Quagliani, Co-Founder and CEO of Fortiro. “We are proud to be recognised for our leadership in this space, and we look forward to continuing to help our customers eliminate manual document reviews, reduce fraud and deliver an exceptional customer experience.” 

About Fortiro 

Fortiro is a software company which uses documents to detect fraud and verify financial information. Australia’s most trusted financial institutions use Fortiro’s platform to detect document fraud and automate income verification, driving faster processing times and reducing costs through fraud avoidance, and delivering an improved customer experience.  

Fortiro’s platform comprises Fortiro Accelerate to instantly extract and verify income and expenses from common financial documents such as payslips and bank statements, Fortiro  Protect, which automates document fraud checks and eliminates manual reviews, and Fortiro  Redact to redact sensitive information in financial documents automatically. 

Headquartered in Australia, Fortiro’s vision is to become the global industry leader for document fraud detection and verification.  

About the Startup Awards 

The Startup Daily Best in Tech Awards 2024 is a major celebration of the innovation, impact and diversity of the Australian tech startup and scaleup community. 

As Australia’s leading digital publisher of startup news, insights and stories, Startup Daily wants to recognise the founders, investors, startups and individuals who are progressing our tech landscape with their brilliant ideas and achievements. 

The Startup of the Year award is supported by the S2S Summit (Startup to Scaleup Summit), from Tank Stream Labs.