UK’s peer-to-peer lending platform, RateSetter, announced it has implemented AU10TIX BOS to improve fraud protection and KYC compliance while streamlining customer experience and increasing effective volume handling capacity. AU10TIX BOS enables 100% automated, Click&Go multi-factor authentication of online submitted ID images. BOS carries out a complete process from auto-recognition, through content extraction, to multi-factor authentication in an average of 10 second – far outperforming any conventional solution.
John Battersby, Head of Communications at RateSetter revealed:
“RateSetter is the most trusted peer to peer lending platform for investors, reflecting how we protect our investors and lend responsibly to borrowers, while providing the best possible service. Customer ID verification is an essential part of our lending process so it is of the utmost importance that we use effective technology to enhance fraud protection while not impacting on our service speed. We are very pleased that AU10TIX BOS quickly proved to be a valuable asset in helping identify potential fraudulent applications”.
Ron Atzmon, Managing Director of AU10TIX, shared:
“We congratulate RateSetter on joining our growing family of clients. We enjoy working with the RateSetter team, contributing our share to their success. RateSetter wants their customers to be better protected and to feel better served. That’s the whole idea about AU10TIX BOS – it does both. RateSetter, like our other clients, will naturally benefit from the new capabilities and enhancement we have in our pipeline. Welcome onboard!”
Ofer Friedman, VP Marketing of AU10TIX, added:
“Catching actual fraud in a proof-of-concept is a great PR anecdote but also the strongest proof of concept, isn’t it? But even beyond that, in a market covered by a battle haze of promises this is a hard proof that AU10TIX BOS actually delivers. And not for the first time. We need to get used to the idea that next generation technology can now outperform human examination. Not just in cost and speed but also in detection. BOS examines each and every image “at pixel level” and will always carry out its growing battery of checks on the 10,000th image as focused as it did on the first one. Thank you RateSetter for helping make this point.“