How Human Intelligence Takes RPA To the Next Level

Robotic process automation (RPA) is automating work tasks in many sectors, and providing businesses with significant ROI and cost savings. Pricewaterhouse Coopers predicts that RPA could save businesses up to $2 trillion in workforce costs in the coming years. The word…

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Loan Application Fraud: Identifying Fraudulent Documents

Many online lenders ask borrowers to upload bank statements, pay stubs, tax forms, and other financials to assess creditworthiness. While the broad majority of borrowers who submit financials are legitimate applicants, some do submit documents that are altered or…

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Identity Fraud: What Online Lenders Need to Know

Identity fraud is a pervasive and rapidly growing form of online lending fraud. Lenders lost over $6 billion from synthetic identity fraud alone in 2016. As data breaches of personal information continue to rise, the problem is only expected to grow. In 2018,…

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Human Error: 8 Eye-Popping Sets of Stats and Examples

On September 23, 1999, one of the greatest human errors in modern history made headlines across the world. The Mars Climate Orbiter was spinning in orbit around the red planet, beginning its mission to collect data on Earth’s closest…

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The Real Cost of Online Lending Fraud

The below blog post first appeared on LendIt.com. According to a study by Experian, 63% of businesses experienced the same or more fraud losses in 2018, with a plurality of 33% experiencing higher losses. In online lending, the trend was particularly…

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