Accelitas is a company that specializes in providing identity verification and fraud prevention solutions. Their services are designed to help businesses across various industries, including financial services,
telecommunications, and e-commerce. It helps mitigate risks associated with identity fraud and economic crime.
Using Accelitas' solutions, lenders can strengthen their fraud prevention efforts, enhance customer security, and ensure regulatory compliance. Its services are valuable for organizations that require robust
identity verification and fraud detection capabilities.
SparkLMS digital lending solutions integrate with the best third-party solutions in the Lending Ecosystem to run a lending portfolio efficiently and profitably. SparkLMS + Accelitas integration will automatically
allow lenders to initiate an identity verification check through Accelitas' API. This check validates the applicant's identity by analyzing various data points, such as personal information, address history, and
identity documents.
What it does
With this integration, lenders will be able to:
- Automate real-time identity verification checks for loan applicants.
- Enhance fraud detection capabilities by analyzing transactional data and behavioral patterns.
- Streamline compliance processes by verifying applicant identities and detecting potential financial crime.
- Improve decision-making by incorporating identity verification and fraud detection insights into lending decisions.
- Increase efficiency by automating manual tasks associated with identity verification and fraud prevention.
- Enhance security measures by identifying and reducing potential fraud risks before approving loans.
- Improve customer trust and satisfaction by providing a secure and reliable lending experience.
- Reduce the risk of financial losses due to fraudulent activities through proactive fraud prevention measures.
Benefits
- Improved accuracy in identifying legitimate loan applicants, reducing the risk of identity theft and fraud.
- Enhanced efficiency in the loan application process through automation and real-time verification checks.
- Reduced operational costs associated with manual identity verification and fraud detection tasks.
- Minimized risk of regulatory non-compliance by adhering to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
- It has enhanced the reputation and credibility of the lending platform by prioritizing security and customer protection.
- Optimal allocation of resources by focusing efforts on legitimate loan applications and minimizing the need for manual review.
- We have improved overall risk management by proactively identifying and mitigating potential fraud risks in loan transactions.
Pre-requisites
After onboarding your lending portfolio using SparkLMS automated loan processing software, you must set up an account with Accelitas. We will guide you through the entire process of setting up Accelitas in your
instance of SparkLMS.
