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Demolish Barriers With Full Loan Software-Core System Integration

on Wed, Jan 16,2019 @ 06:13 AM | By Chris Carlson | Loan Software loan origination system core system fraud
If you have been working in the financial services sector for a long time, you can probably remember the days where every area of your institution was a separate entity. For example, you may have had separate divisions for retail banking, private banking, trusts, investments, consumer lending, and indirect lending, and each of those really didn’t have much knowledge of the other business units. It was very common to have completely separate IT systems for managing the accounts generated and maintained within each area. Most likely, it could’ve been argued that this compartmentalization may have even fueled the fire of competitiveness within your organization in a way that limited organic growth.  While some of these dynamics have simply been a statement of corporate culture, it would also be reasonable to assume that limitations in technology have also fostered these characteristics within organizations. We have now reached an age when that is no longer true. Today, it would be fair to say that if your organization maintains this inter-departmental segmentation, it does so despite the industry-recognized benefits of tearing down those proverbial walls. Lending is a great example of where we can still see this handicap.
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Fraud Detection & Prevention 101: How to Protect Your Credit Decisioning

Security remains one of the most important topics for consumers as businesses continue to evolve in the digital age. As data breaches appear to become more commonplace, financial institutions everywhere are ratcheting up their security efforts to identify, assess and prevent fraud.  As someone who’s had his identity stolen a few years ago, I experienced the feeling of pure panic that crashes over you when realizing credit was fraudulently established in your name and you’re left to pick up the pieces. Despite the fact that most sophisticated thieves seem to always be one step ahead, it’s a battle that needs to be fought by every financial institution to maintain a level of trust with its customers or members. There are a number of different types of credit fraud. With a focus on origination of a loan, this blog post will describe the two most prevalent versions with regards to credit decisioning.
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4 Credit Decisioning Variables Used for Fraud Detection & Prevention

on Wed, Dec 26,2018 @ 10:34 AM | By Chris Carlson | Loan Software loan origination system fraud
We would like to wish you and yours a safe and happy holiday season! While many people are taking time away from the office this week, still plenty of others – especially at financial institutions – continue to punch their proverbial time cards. Another hot topic in our industry that seemingly never takes a day off is fraud.  As holiday spending ramps up toward the end of the year, more and more crooks out there are scheming ways to get something for nothing. Credit fraud continues to be a growing concern in the lending industry. Financial institutions need to find ways to increase fraud detection and prevention capabilities within their automated decisioning technology and processes. Analytics continues to provide a trusted and viable counterpunch to rising threats of fraud.
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