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Defeating Application Fraud Without Impacting Real Members

Webinar | Jul 27, 2023 | 1:00PM – 2:00PM EST

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Mallory Hazard

Vice President of Consumer Lending

ELGA Credit Union

Richard Snyder

Director of  Credit 

American Cycle Finance  


Andrew Morris

Senior Counsel for Research and Policy



Vivek Ahuja

Head of Enterprise Sales & Alliances



Eric Steinhoff

EVP Client Impact

Scienaptic AI

In today's fast-paced digital lending landscape, traditional fraud detection methods are no longer sufficient. Identity theft remains a significant cause of losses for credit unions, and synthetic ID Fraud is a growing concern, with recent studies revealing 1.8 million consumer credit accounts potentially linked to fraudulent synthetic identities within a year. Alarmingly, over 30% of these accounts were at risk of major delinquency or charge-offs, resulting in average losses of $8,000 - $10,000 per incident. Credit unions need comprehensive solutions to effectively detect and prevent fraudulent applications during origination while ensuring genuine members' experiences are unaffected.
Join Scienaptic and SentiLink for an insightful webinar on how deep understanding of these tactics coupled with technology can be a game changer in credit origination fraud prevention. Together, let's combat synthetic ID fraud and identity theft, and create a safer and more secure credit origination environment.

Our discussion will include:

  • Evolving fraud landscape: Understand the changing fraud techniques and regulatory challenges in credit origination.

  • Human insights powered by machine learning in fraud prevention: Discover how this union can accurately detect and prevent fraud, leveraging vast data analysis and complex pattern recognition.

  • Streamlined operations with AI: AI-powered solutions automate manual processes, reduce false positives, and provide a frictionless credit origination experience.

  • Real-world success stories: Gain insights from credit unions that have achieved reduced fraud losses, improved detection rates, and enhanced compliance through AI implementation.

  • Best practices for AI fraud tool adoption: Understand key considerations for implementing AI-driven fraud prevention systems, including member experience, and false-positive considerations.

  • Q&A engagement: Get specific answers to your questions about credit origination fraud prevention and AI adoption.

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