There have been several groups formed in the online lending industry but the latest one doesn’t focus on a voice...
ID Analytics identifies the need for a specific type of fraud prevention that focuses on short term application velocity or loan stacking; ID Analytics has been very involved in loan stacking prevention, promoting a consortium approach and helping to establish the Online Lending Network which is an association focused on identifying loan stacking fraud through real time information sharing; members of the Online Lending Network can receive real time information on a borrower allowing them to identify up to the minute application activity that can be used in credit underwriting; ID Analytics is committed to the Online Lending Network and expects to see continued growth in its coverage and membership. Sponsored Blog Post
A new association has been formed in the marketplace lending industry with a focus on fraud prevention; the Online Lending Network was launched this week at Money 20/20 and will work with ID Analytics on loan tracking and fraud risk solutions; Lend Academy provides more details in their article; focus is on technology from ID Analytics that helps to prevent loan stacking and predict a borrower's intentions. Source
ID Analytics introduced the Online Lending Network in October 2016 with the goal of providing greater resources to lenders for mitigating fraud; Online Lending Network members access internetwork supplied data and information from ID Analytics for greater detection of fraudulent loan applications and loan stacking; ID Analytics reports that the network has achieved visibility into 75% of US domestic marketplace lending activity since inception with membership increasing by 50% since its launch. Source