How Two Online Lenders are Combating Fraud

Attacks on online lenders have started to increase according to data from LexisNexis Risk Solutions; some fintech companies such as Elevate Funding and Credibly have began to implement new security measures in order to combat the fraudsters, using technology to detect fake photos, deepfake videos and images which have incorrect information tied to them; lenders like Elevate Funding are using a service called Truepic for their merchant advances which instructs a potential borrower to take pictures around the business; from there Truepic analyzes the pictures for potential fraud; before technologies such as Truepic, companies like Elevate Funding and Credibly relied on physical site visits which resulted in a less than ideal customer experience and increased costs. American Banker

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.