On Friday, peer-to-peer lending platform Lending Works announced it is now offering even higher standards in ID fraud protection by using AU10TIX BOS.
AU10TIX BOS is considered the “first and only 2nd generation ID authentication and record generation technology” on the market today. It is 100% automated from document auto-classification, through multi-factor ID image authentication and up to delivering a ready-to-use customer dataset.
Richard Litchfield, Head of Credit Underwriting at Lending Works, declared:
“Our vision is to create a credible and desirable alternative to high street banks, offering the products our customers actually want in a fair way. We pride ourselves at emphasizing safer and securer service. We have found AU10TIX BOS clearly superior to any other solution on the market. Being able to offer latest ID fraud protection while enhancing customer experience is a win-win situation. And being able to do that even more efficiently and cost-effectively than before is an obvious triple winner.”
Ron Atzmon, Managing Director of AU10TIX, explained:
“We are happy to have Lending Works onboard. And we are glad to have proven superior to any conventional solution yet again. It is already well acknowledged that automating ID authentication and record generation are critical to survival and growth in today’s marketplace. But what makes a real difference is being able to do that as fast as possible and at the highest success rates at the challenging conditions of the online, customer-not-present environment. We are proud to contribute to the success of more and more online financial services providers.”
Ofer Friedman, VP Marketing of AU10TIX, added:
“The latest customer data breaches that hit major players have made it clear that checking customer data against referencing services is not as secure as it used to be. Being able to detect manipulations in customer ID images even when the data they contain is perfect has become even more important now. But more than that, seconds-fast, effective ID authentication can actually increase conversion rates and boost traffic handling capacity while saving operating costs and improving operating efficiency.”