verify the KYC process, and perform additional OFAC checks instantaneously. What was previously a process that could take a couple of days can now be verified from start to finish in a total of 15 minutes. From the borrower logging on to the borrower portal and entering their information to the loan officer performing the additional verification approval on the system administrator requires fewer than 30 clicks combined for both parties. Again, there is no perfect solution. But investing upfront in robust fraud prevention measures proves more economical than dealing with the aftermath of fraudulent loans. A modest additional cost per loan ensures quality and security, ultimately safeguarding lenders from substantial financial losses.
ALEX KADDAH
Alex Kaddah brings a wealth of expertise and cutting-edge technologies to Liquid Logics and the private lending industry. Kaddah’s master’s degree in analytics and artificial intelligence, combined with his hands-on professional experience, has enabled Liquid Logics to implement advanced data-driven strategies and solutions that significantly enhance business operations. His passion for integrating advanced analytics with practical business solutions reflects his commitment to driving innovation and achieving excellence within the industry.
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