Specialist Lending

Fluent Money cuts fraud risks with new technology

Fluent Money is aiming to cut identity fraud by investing in an ID scanning solution to check documents confirming identity requested by lenders.

Rozi Jones
|
22nd June 2016
fraud credit card theft tech
"Within seconds, we know if the identity documentation is valid and can then with confidence send on a fully packaged case to our lenders."

Fluent Money is aiming to cut identity fraud by investing in an ID scanning solution to check documents confirming identity requested by lenders.

TrustID’s document scanners authenticate documents’ security features – both visible and hidden. The machine reads and stores the printed information on the face of the documents, compares chip and machine readable zone data within passports, driving licenses, visas and identity cards and also takes infrared scans of these documents.

Tim Wheeldon, Fluent Money’s COO, said: “We have a real responsibility not only to our intermediaries but also to our lenders to ensure that our service is not only the best, but that we are doing everything in our power to protect all of our partners from the increasingly pernicious threat of fraud.

"Within seconds, we know if the identity documentation is valid and can then with confidence send on a fully packaged case to our lenders.”

Maeve Ward, Secured Lending Sales & Operations Director at Shawbrook Bank, added: “Shawbrook Bank are delighted that Fluent Money are leading the way under the new regulatory regime, by embedding Trust ID into their business. Fluent pride themselves in putting the customer first, and have invested time and money into technology, ensuring the journey to the customer is as streamlined as possible. This latest installation is just another step forward, focused around providing even greater compliance through what is already a very robust risk framework, reducing the exposure of fraud twofold, to them and the lender.”

Related articles
More from Specialist Lending
.