TLDR
Fintech firms were nearly five times more likely than traditional financial institutions to approve “highly suspicious” loans, accounting for almost $80 billion in questionable disbursements. Fraud in account opening processes is endemic in the account opening process. The following best practices can help fintechs locate and approve new customers without friction or fraud while streamlining the customer journey. With the right identity verification solution in place, businesses will have visibility into fraud and data across multiple channels and channels.via the TL;DR App
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