Cloud-based system to tackle mortgage identity fraud

SiNERIX’s new cloud-based identification, verification and on-boarding platform uses biometric technology to fight identity fraud. The Digital Engagement Cloud offers an end-to-end service for mortgage lenders, solicitors, conveyancers and insurers to ‘seamlessly’ on-board new customers and employees. More than eighty of every 10,000 mortgage applications are fraudulent, losing mortgage lenders around £1.3bn annually, according to research from Experian. David Kern, chief executive officer of SiNERIX, said: “There is always a balance to be struck between preventing fraud and making application processes easy and stress free for people. No one likes having to fill out lengthy forms, or provide multiple proofs of identity when applying for legal and financial services. Digital Engagement Cloud is designed as an end-to-end on-boarding service, allowing firms to sign up new customers online and protect them from identity fraud, without forcing them to jump through multiple hoops to prove that they are who they say they are.”

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