Fraud Detection Risk Assessment Underwriting 
Finezza
JANUARY 4, 2024
A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. The revenue growth and profitability of a lending business depend on several factors.
Nanonets
APRIL 26, 2023
Automation can have a significant impact on this process—particularly the loan underwriting process. Loan underwriting is the step before a loan is approved or denied, where a lender verifies a potential borrower’s income, assets, debt and property details in order to issue final approval for the loan.
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Finextra
JULY 7, 2025
This broad applicability in banking (from automating fraud reviews to generating customer communications) underscores how financial firms are integrating GenAI into their core workflows more aggressively than most. Indeed, 64% of finance leaders report using AI for fraud detection and risk management in their institutions.
The Payments Association
MARCH 18, 2025
Open data, in turn, enriches these offerings, enabling innovative credit scoring and risk assessment beyond traditional banking channels. Open data extends beyond regulated financial data-sharing to non-banking datasets, such as telecom, utility, e-commerce, and social data, creating new layers of insight but also new risks.
Nanonets
DECEMBER 13, 2023
A survey by Accenture on underwriting employees found that up to 40% of underwriters’ time is spent on non-core and administrative activities. The integration of fraud detection algorithms is paramount for error reduction. Encryption techniques and access controls further enhance data protection.
EBizCharge
JANUARY 16, 2025
Fraud detection and risk assessment: MCCs assist fraud detection and risk assessment operations by flagging suspicious transactions. For example, if a credit card is suddenly used at a pawn shop after being consistently used at beauty shops, this can indicate fraud.
M2P Fintech
MARCH 24, 2025
This includes employing machine learning algorithms to automate parts of the loan application and underwriting process, as well as using digital platforms to facilitate communication between borrowers, lenders, and other relevant parties. “One-click” loans become reality through instant credit assessments.
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