Cifas named as finalists at Credit & Collections Technology Awards 2020.

Cifas is delighted to have been named as a finalist in two different categories in this year’s Credit and Collections Technology Awards. The first for its ‘Anti-fraud solution’ and the second for ‘Innovation in Credit’, in conjunction with Graydon UK and TruNarrative.

In the ‘Anti-fraud solution’ entry, Cifas promoted it’s new fraud-preventing system called ‘Cifas Facial Matching’ which allows Cifas members to search and flag images in order to identify whether or not images relate to personal data being used.

This unique fraud-preventing capability is now being used by 124 member organisations and has not only provided high financial savings, but has also prevented fraudulent applications, identified two key large fraud rings, and identified additional cases to be included loaded to the National Fraud Database (NFD).

Lee D’arcy, Cifas Commercial Director, said: ‘Last year we saw cases of fraud rise to the highest levels ever recorded, and the ongoing pandemic and uncertainty around the economy could meant this is just the tip of the iceberg when compared to this year. Fraud is ever evolving and criminals continue to collaborate together, and so now more than ever we need to strive for innovative new technology and solutions to ensure we keep one step ahead of the fraudsters.’

The Credit and Collections Technology Awards aims to recognise and reward technological innovation. Now in its fourth year, the 2020 awards will celebrate excellence and innovation in the UK credit and collections industry. Each category is judged by an independent panel of industry experts, who will examine technological solutions in lending, credit and collections innovation. The awards culminate in a prestigious ceremony which will be held online on Thursday 19th November at 2:45pm.

Attendees can register and attend for free by clicking on this link.