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CredoLab, iovation join forces to fight against credit fraud

Thursday 10 October 2019 10:25 CET | News

CredoLab has partnered with iovation to integrate iovation`s tech into its own, in a bit to reduce fraudulent loan and credit card applications.

At the same time, the company wants to optimise digital customer onboarding for banks and non-bank lenders worldwide. As such, via the agreement, CredoLab is leveraging iovations FraudForce with CredoLabs CredoApp, CredoApply, and CredoSDK. FraudForce helps banks and lenders distinguish fraudulent from legitimate transactions by evaluating associated accounts and devices, past device history, and suspicious device behaviors. CredoApply is a digital onboarding mobile app, while CredoApply provides device intelligence encompassing 45 application fraud checks, home and work address verification, employment verification, KYC documents collection and alternative credit scoring.

Moreover, this partnership supports CredoLabs mission to work with banks and non-bank lenders to facilitate financial inclusion and access to credit for consumers and small businesses left out of the traditional financial system. The integration of iovations FraudForce with CredoApp, CredoApply, and CredoSDK offers banks and lenders the ability to evaluate potential customers in a secure and transparent manner.


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Keywords: alternative credit scoring, fintech, CredoLab, partnership, iovation, credit fraud, fraud prevention, onboarding, banks, non-banks, transactions, fraudulent activities, KYC, security
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Countries: World