After a number of high profile breaches in 2017 lenders are looking to better protect themselves against evolving threats; writing a column in Bankless Times Tom Donlea of WhitePages Pro looks at some key things online lenders can do to better protect themselves; lenders can start moving away from using social security numbers as a personal identifier, AI and machine learning will play a bigger role, more lenders will begin to bring fraud fighting in house and blockchain will become more widely adopted. Source.
The service from Whitepages Pro can add another layer to identity verification for online lenders; it provides lenders with analysis of a potential borrower's associated phone number, email, mailing address and business name; Whitepages CEO Rob Eleveld says the service gives lenders a broad profile of the borrower which in most cases is difficult to fraudulently create; it can also be accessed through APIs which makes connecting to the service easy for lenders. Source