Bank Account Ownership: The Ultimate Risk Detector for Lenders
Lenders face numerous challenges in verifying the identity and financial stability of borrowers. One of the most critical issues that lenders encounter is fraud, which can result in significant losses for both lenders and borrowers. 96% of US companies were targeted with at least one payment fraud attempt last year. To combat fraud, lenders need to […]
Four Crucial Benefits of Verifying Bank Account Ownership
Verifying Bank Account Ownership is more important now than ever. In today’s digital environment businesses cannot afford not to verify consumer or vendor’s bank account ownership. Enhancing Fraud Protection Through Verifying Bank Account Ownership Verifying the bank account’s ownership with open banking capabilities has proven to be one of the most authoritative methods in reducing fraud. In the past, many […]
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