Sagent Lending Technologies has partnered with Innovis Data Solutions to offer lender protections against fraud.
The company has integrated Cross Check from Innovis Data Solutions into its Auto Loan Origination System (Auto LOS).
Cross Check is an identity verification and fraud detection solution designed to minimise the risk of fraud loss in a lender’s automated decisioning process.
Auto lenders using Sagent’s Auto LOS platform will now be able to view Cross Check verification data to verify consumer-provided application information and to clear stipulations without switching to another application.
Charles Sutherland, chief product officer at Sagent, said: “By integrating Sagent’s Auto LOS with Innovis’ Cross Check solution, we’re enhancing our origination platform with a comprehensive suite of validation services for today’s auto lending environment, protecting lenders from fraud, and streamlining the entire loan and lease process for borrowers.”
Innovis’ tools can assist with identity verification and authentication, fraud prevention, receivables management, and credit information.
It claims Cross Check’s verification rates allow lenders to open more accounts with confidence, with time-saving features increasing automated loan approval rates, minimising the need for manual reviews.
The platform also strengthens compliance efforts with the USA Patriot Act and FACTA Red Flags by detecting inconsistencies in consumer-provided application information and screening against OFAC and other high-risk alerts.
Through Sagent’s Auto LOS solution, the auto loan origination process is streamlined so lenders can make quicker loan decisions at scale.
“Innovis and Sagent Lending Technologies have a shared goal to make lending safer and more secure for everyone involved while at the same time fueling sound growth and improving service quality to our lenders, their dealers, and their borrowers,” added Bruce Nixon, President of Innovis Data Solutions.
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