Leading peer to peer lending platform Zopa has partnered with tech company AU10Tix to improve identification process. AU10TIX is a fully owned subsidiary of ICTS International N.V.
Zopa is raising the bar in protecting lenders against fraud by verifying borrowers more thoroughly by checking official documents such as passports and other official IDs. By incorporating the “BOS SaaS service, Zopa will streamline customer clearing and onboarding while stepping up fraud protection and KYC compliance”. The service includes multi-layer fraud detection together with full automation reportedly in seconds, providing a fast and integrated process that outperforms all existing traditional solutions in reaction speed and ability to handle sub-optimal images.
“We are glad to have a world standard technology such as the AU10TIX BOS platform serving our customers,” says Paul Martin, Credit Risk Director at Zopa. “Our success has been built to a large extent on our commitment to make lending simple and quick, but yet responsible and secure. Using the same system as international passport control means that AU10TIX BOS stands out in terms of performance, speed, security, depth of authentication with the ability to handle large volumes of the applications traffic.”
“The vote of confidence by Zopa means a lot to us,” says Ron Atzmon, Managing Director of AU10TIX. “In many ways, AU10TIX and Zopa share similar understanding of the online customer, similar values and a similar commitment to stay ahead of the game using best of breed technology.”
“Something is happening in the market,” says Ofer Friedman, VP Marketing of AU10TIX. “The demand for robust customer authentication and onboarding technology is booming. But with it also the understanding that you cannot use traditional solutions in the online environment effectively. AU10TIX was early to identify the changing rules of the game introduce the technology that handles online ID authentication and processing more effectively, more quickly and more easy to implement. You don’t have to take my word for it. Simply ask our clients.”
Since Zopa was founded in 2005, it has facilitated more than £680 million in peer-to-peer loans Zopa has over 57,000 active savers lending between £10 and £1.7 million.