With expanding operations, the complexity and volume of documentation increased and brought with it a significant challenge: detecting fraudulent documents efficiently. And as fraudsters became more sophisticated, relying on manual reviews proved inadequate.
With frauds harder to detect visually, instinct kicks in — and a well-trained underwriter’s instinct will usually be right.
But suspicion alone is not enough, and being wrong could severely damage long-term relationships with potential borrowers who might end up going to the competition. In those cases, getting alignment internally on the decision could take time.
It was clear they needed a more efficient solution to maintain their high standards and protect against fraud.
Resistant AI's document fraud detection enhanced their fraud detection capabilities, and transformed their operations, increasing processing times while maintaining high standards of accuracy.
The AI system also provided the team with concrete proof of document alterations, which was crucial for convincing other stakeholders within the organization, but also fortified their confidence in identifying and addressing fraud.
The efficiency gains were significant, with the detection and resolution of fraudulent activities reduced to minutes. Teams were able to make confident decisions in seconds, rather than days. This speed was crucial in maintaining their operational flow and ensuring timely processing of loans.
The combination of enhanced security, increased efficiency, and robust validation streamlined their processes and fortified their reputation for delivering high-quality, secure loan files.
Resistant AI also strengthened LYNK Capital's relationship with their loan buyers: