Solutions for Personal Lenders

Online unsecured personal loans have skyrocketed in popularity over the last ten years. While this innovation has made it easier and faster for consumers to refinance debt or borrow for a major purchase, it has also made it easier for fraudsters to steal thousands or tens of thousands of dollars in cash at a time.

Synthetic fraud, in which fraudsters apply for loans with identities that are not real people, is an attack vector that fraudsters have begun exploiting extensively over the last several years. Many of the techniques personal lenders use to verify identities--such as tying the phone number and email address to the identity, asking the applicant KBA questions, or having them supply an ID--can be bypassed as fraudsters have taken out phones and emails for their synthetic identities, built up the synthetic identities' history, and in many cases even gotten them government issued IDs.

SentiLink's blacklist and scoring technology can help personal lenders stop these fraudsters during the application or verification process so that they don't book these loans.