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Rapid Finance lists Lynx platform on Microsoft's Azure Marketplace

Tuesday 24 October 2023 10:15 CET | News

US-based financial service provider Rapid Finance has announced the integration of its AI-ready fraud detection platform, Lynx, on the Microsoft Azure Marketplace.

 

Rapid Finance customers can now take advantage of the productive and trusted Azure cloud platform, with streamlined deployment and management.

Rapid Finance has announced the integration of its AI-ready fraud detection platform, Lynx, on the Microsoft Azure Marketplace.

Augmenting financial institutions with data transformation

Financial institutions see data as a critical asset that helps them better understand customers through data maturity. The challenge is that many enterprises are awash with financing application data, while struggling to extract its meaningful value. Lynx allows financial institutions to unlock the full value of their data through a single API that provides a 360-degree view of loan applicants and customers.

Lynx is crafted to streamline disparate datasets within enterprises, transforming them into a cohesive framework conducive for AI integration. Its design, featuring modularity, cloud-native architecture, and API-based interface, allows seamless integration with existing systems and workflows of enterprise partners. Lynx enhances the data quality by incorporating third-party enrichments and employs its advanced pattern-matching AI algorithms to identify relevant applications. Additionally, it provides insights and indicators, augmenting businesses with more efficient and intelligent operational processes.

Company officials said that Lynx is proven at enabling financial institutions to make better decisions by unlocking the value of their data and delivering actionable insights to support their small business and consumer lending programmes. They view the inclusion of Lynx as part of the Microsoft Azure Marketplace partner ecosystem as validation of the quality of their solution and the value that it brings to financial institution clients.

Increasing enterprise security and compliance

Enterprises leverage Lynx’s proprietary, pattern-matching AI algorithms through real-time API calls to mitigate fraud in their portfolios, with Lynx’s comprehensive view of customers allowing enterprises to perform robust Know Your Business (KYB) and Know Your Customer (KYC) checks. By leveraging the Lynx API, enterprises can quickly create structured datasets for onboarding a healthier portfolio while monitoring their existing relationships for potential fraud patterns.

Microsoft’s representatives said they’re happy to welcome Rapid Finance to the Microsoft Azure Marketplace, which gives their partners great exposure to cloud customers around the globe. Azure Marketplace offers quality experiences from global trusted partners with solutions tested to work seamlessly with Azure.

What does Rapid Finance do?

Since 2005, Rapid Finance has been supporting the growth and success of small businesses across the US. Powered by a thoughtful combination of technology, speed and deep industry expertise, the Rapid Enterprise business line provides Lending-as-a-Service solutions to enterprise clients. With modular, flexible, and scalable financial solutions, Rapid Enterprise solutions are customised to their enterprise partners’ needs.


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Keywords: data, financial data, data aggregation, artificial intelligence, KYC, fraud prevention
Categories: Fraud & Financial Crime
Companies: Microsoft, Rapid Finance
Countries: United States
This article is part of category

Fraud & Financial Crime

Microsoft

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Rapid Finance

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