Loan and credit processing
Protect the integrity of your loan portfolio
Loan and credit applications are a playground for opportunistic fraudsters, particularly with non-disclosure and misrepresentation being persistent challenges in processing. Without a reliable early risk indicator, bad actors exploit the current system, financial institutions accept more bad loans, and genuine customers are stuck in the middle. Clearspeed screens for potential fraud early, so the right applications make it through, faster.
You can’t bank on current processes and tools to reveal risk of fraud
Between the volume of loan and credit applications and exploitative actions of opportunistic fraudsters, teams face a burden; move fast and miss fraud risk, or slow down and miss out on potential customers (while competitors offering instant approvals swoop in). Without a fast and reliable way to sort applications by risk level, time is spent on low-risk cases at the expense of the ones that actually warrant scrutiny.
Large US life insurer benefits from unique risk insights
Clearspeed helped a large US life insurer better segment applicants by better understanding tobacco use and BMI-related risk factors earlier in the application process. The insurer was able to accelerate high trust applicants and reduce unnecessary testing costs without trading off on rigor or confidence.
How Clearspeed adds a trust layer to application evaluation
Clearspeed screens for risk at the point of application, so low-risk applicants move through fast and underwriters stay focused on the ones that need them. A few yes-or-no questions, grounded in decades of neuroscience.
