Zopa Solidifies Fraud Protection

By Georgina McCreadie on 27th November 2014

P2P/Marketplace Lending

Zopa has taken the step of partnering with AU10TIX to protect its users against fraud.

Zopa Solidifies Fraud Protection

AU10TIX will protect Zopa’s lenders against fraud as it verifies borrowers by checking official identifications such as passports, driving licenses and official national ID cards. This will help Zopa to streamline customer clearing and onboarding, whilst stepping up fraud protection and Know Your Client compliance. The AU10TIX online BOS platform is increasingly being used by online financial service providers. This is part of a new generation of online ID authentication offering multi-layer fraud detection. It is 100% automated – providing fast and integrated process that outperforms all traditional solutions.

Paul Martin, Credit Risk Director at Zopa, commented:

“We are glad to have a world standard technology such as the AU10TIX BOS platform serving our customers. Our success has been built to a large extent on our commitment to make lending simple and quick, but yet responsible and secure. Using the same system as international passport control means that AU10TIX BOS stands out in terms of performance, speed, security, depth of authentication with the ability to handle large volumes of the applications traffic.”

Ron Atzmon, Managing Director of AU10TIX, added:

“The vote of confidence by Zopa means a lot to us. In many ways, AU10TIX and Zopa share similar understanding of the online customer, similar values and a similar commitment to stay ahead of the game using best of breed technology.”

Ofer Friedman, VP Marketing of AU10TIX, explained:

“Something is happening in the market. The demand for robust customer authentication and onboarding technology is booming. But with it also the understanding that you cannot use traditional solutions in the online environment effectively. AU10TIX was early to identify the changing rules of the game introduce the technology that handles online ID authentication and processing more effectively, more quickly and more easy to implement. You don’t have to take my word for it. Simply ask our clients."

As investors deploy larger amounts of capital with the platforms the importance of fraud protection cannot be overstated and this is one way for Zopa to stay ahead of the pack. 

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