LendingUSA & GDS Link partner with SentiLink for Fraud Detection technology

Source: IBS Intelligence 2020-07-17

LendingUSA, a leading smart financing solutions provider, has announced that the company is enhancing its fraud detection capabilities by incorporating SentiLink technologies into its processes through a partnership with GDS Link, a leading credit management provider.

SentiLink’s technology helps users combat synthetic fraud, a crime in which fake identities are created and used to defraud financial institutions and government agencies. Its real-time API identifies fake people during the application process and prevents them from hurting the user’s bottom line.

“McKinsey’s research has identified synthetic ID fraud as the fastest-growing financial crime in the U.S. Partnering with SentiLink and GDS Link, the goal is to be one step ahead of the fraudsters and ensure LendingUSA takes an active stance in combating fraud across the industry. We are not just a financial services company; we are a technology company. LendingUSA will continue to push the envelope in terms of innovation and continuously improve our product to create a richer experience for our merchants and borrowers,” explains Manoj Mathew, Chief Technology Officer and Head of Servicing & Collections at LendingUSA.

LendingUSA’s implementation of SentiLink’s technology is expected to expand its capabilities to not only identify application fraud and synthetic fraud but also to catch fraud networks with a larger footprint. SentiLink leverages industry knowledge and proprietary, patent-pending soft-clustering technology to identify fraudulent applications by searching for statistical anomalies.

“LendingUSA has built an incredible product and business by helping people access credit at the most important moments of their lives. We’re thrilled to partner with the amazing teams at LendingUSA and GDS Link to make customer onboarding smoother and fight the criminals that make those moments harder for real customers and merchants,” said says Naftali Harris, CEO at SentiLink.

Recently, Forter launched ‘Forter Smart Routing’ to prevent false payment declines.

Founded in 2015, LendingUSA is a point-of-sale FinTech company that offers merchants a seamless financing solution with access to promotional financing terms, loan decisions in seconds, and low monthly payment options for its customers across various niche markets. According to company data, the firm has over 8,000 merchants nationwide and has processed over $2 B in borrower loan requests.

LendingUSA

SentiLink

LendingUSA & GDS Link partner with SentiLink for Fraud Detection technology

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