FortifID Leads the Way in Fighting Synthetic ID Fraud

Full Skope Partner FortifID Leads the Way in Fighting Synthetic ID Fraud

Synthetic identity fraud is a growing problem for lenders and financial institutions. In this type of fraud, criminals create fake identities using real and stolen personal information. This allows them to open new accounts, obtain loans, and make fraudulent purchases.

FortifID is a leading provider of identity verification solutions that help lenders fight synthetic ID fraud. The company’s platform uses a variety of data points to verify the identity of loan applicants. This includes checking name, mobile phone, address, and other information to validate that the person is who they say they are.

FortifID also offers a second level of authentication using biometric comparison. This involves having the applicant take a selfie on their phone and comparing it to the photo on their ID. This helps to ensure that the person applying for the loan is the same person in the photo.

FortifID’s solutions have been shown to be effective in preventing synthetic ID fraud. In a recent study, the company found that its platform was able to detect 99% of synthetic ID fraud attempts.

Full Skope is a leading provider of lending technology solutions. The company partners with FortifID to offer its customers a comprehensive solution for fighting synthetic ID fraud. Full Skope’s platform integrates with FortifID’s to provide lenders with a single view of the applicant’s identity. This helps lenders to make more informed decisions about whether to approve a loan application.

By partnering with FortifID, Full Skope is helping lenders to protect themselves from synthetic ID fraud. This is a critical issue for the lending industry, and Full Skope is committed to providing its customers with the tools they need to fight fraud.

Benefits of Using FortifID

There are many benefits to using FortifID’s identity verification solutions. These include:

  • Increased fraud prevention: FortifID’s solutions can help lenders to prevent synthetic ID fraud, which is a growing problem.
  • Improved customer experience: FortifID’s solutions can help lenders to improve the customer experience by making the loan origination process more efficient and secure.
  • Reduced risk: FortifID’s solutions can help lenders to reduce their risk of fraud and financial loss.

If you are a lender, I encourage you to learn more about FortifID’s identity verification solutions. They can help you to protect your business from synthetic ID fraud and improve the customer experience.