Case Study

How this lender automated income document reviews to reduce loan approval times as well as fraud.

Lenders are seeking to provide customers with an unconditional decision on their application in minutes, not days, but are concerned that the automation of document reviews can invite criminals, liars and scammers that use seemingly authentic looking documents to try to slip through the process.

The manual review of income documents, such as payslips, is a key fraud prevention control, but has proven to be time-consuming and costly.

As a result, lenders are turning to technology to eliminate this bottleneck, using automatic document fraud detection to provide fast loan approvals, while also minimising the risk of fraudulent applications.