Sagent Lending Technologies today announced it has teamed with Experian to integrate the companys fraud and identity solution, Precise ID, into its Auto Loan Origination System (Auto LOS). As a result of the integration, lenders using Sagents Auto LOS System will now be able to streamline the identity verification process, more accurately detect fraudulent behavior, approve more loans, and create an improved borrower experience all while making quicker loan and lease decisions at scale.
Experians Precise ID, a component of its CrossCore platform, empowers lenders to use more passive authentication measures and a multi-layered approach to manage fraud risk across the entire customer lifecycle. The solution enables them to analyze first- and third-party fraud information and identify any inconsistencies that could indicate fraudulent behavior during the application process. Additionally, the solutions strengthen compliance efforts with the USA PATRIOT Act and the FACTA Red Flags Rule by detecting inconsistencies in consumer-provided application information and screening against OFAC and other high-risk alerts.
Sagents commitment to delivering agile, compliant, scalable, and configurable solutions to lenders has been further strengthened through the integration of Experians Precise ID. Our growing suite of alternative data integrations protects lenders from fraud while streamlining the entire loan or lease process for lenders, dealers, and borrowers, said Charles Sutherland, Chief Product Officer, Sagent Lending Technologies.
“With so many compromised identity records, we believe the best defense against fraudulent behavior is a multi-layered approach that leverages advanced data and technology,” said Kathleen Peters, Experians Senior Vice President and Head of Fraud and Identity. Fraud is becoming more of a focal point within the automotive industry and with access to analytical capabilities, lenders will be better positioned to assess fraud risk quickly and accurately, make the right lending decisions, and create an improved experience for prospective borrowers.”
About Sagent Lending Technologies
Sagent Lending Technologies improves the lending experience for everyone. The companys suite of comprehensive origination, servicing, and processing offerings come together to deliver flexible, scalable, and configurable solutions that deliver on the brand commitments of our clients. With solutions from Sagent, lenders and servicers can delight borrowers, increase efficiency, and improve agility in a demanding compliance environment. Sagent is a joint venture that combines Fiserv Inc.s decades of market-leading lending expertise with Warburg Pincus skill in growing technology companies. Visit www.sagentlending.com to learn more.