Authentive provides an AI-driven platform that enables lenders and marketplaces to instantly verify applicant data such as income, assets, and education while ensuring authenticity and eliminating fraud. By reducing verification costs by up to 80%, the platform addresses the challenges of fraudulent documents and fragmented data sources in the verification process.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional methods of verifying applicant data, such as income, assets, and education, are often costly, fragmented, and susceptible to fraud due to reliance on customer-submitted documents and disparate data sources. Existing fraud detection mechanisms are not comprehensive, leading to increased risk of bad debt and defaults for lenders and marketplaces.
Solution
Authentive provides an AI-powered platform designed to instantly and accurately verify applicant data, including income, employment, assets, education, and tax information, on a global scale. The platform enables businesses to collect customer information directly from the source, ensuring authenticity and eliminating the possibility of fraud. By automating the verification process, Authentive reduces verification costs by up to 80% and provides comprehensive customer insights without compromising speed or confidence. The platform covers the entire process from collecting customer information to producing actionable insights, helping businesses reduce bad debt and defaults across various lending sectors and onboard more participants in marketplaces.
Target Audience
The primary target audience includes lenders across mortgage, business, consumer, and auto lending, as well as marketplaces seeking to onboard participants and verify their credentials.
Features
- AI-driven verification of applicant data, including income, employment, assets, education, and tax information
- Direct data collection from the source to ensure authenticity and eliminate fraud
- Automated fraud detection using patent-pending technology
- Unified platform for collecting, verifying, and processing customer information
- Comprehensive trust platform covering data collection and insight generation
- Solutions for loan origination, income and employment verification, background screening, and marketplace listings