back Back

Rapid Finance makes Lynx platform available to back SMB lending

By Delisha Fernandes

May 25, 2023

  • AI-powered fraud
  • API
  • bank frauds
Share

Rapid financeRapid Finance, a Lending-as-a-Service (LaaS) solution, announced today the commercial availability of its AI-powered fraud detection platform, Lynx.

Lynx platform allows financial institutions to leverage their data better and gain insights to generate 360-degree views of their customers.

Built with a modular, cloud-native, API-based design, Lynx quickly and easily integrates with enterprise partners’ existing systems and workflows, equipping enterprises with data enrichments and verifications, related application identification, insights and alert indicators to drive efficient and intelligent decisioning.

A proven marketplace solution, Rapid Finance has successfully leveraged Lynx within the company’s lending business for seven years, as well as by the US Small Business Administration (SBA) in the execution of COVID-19 EIDL programs that provided more than 10 million loans and grants, totalling almost $400 billion.

“We are excited to share Lynx as a commercially available product, allowing enterprises to leverage their data better while tapping Lynx AI to manage their customer interactions more efficiently and effectively,” said Will Tumulty, CEO of Rapid Finance.

Tumulty added, “As lenders ourselves, and through our work with the SBA, we understand the importance of providing a frictionless experience to customers while minimising fraud. Our team uses Lynx extensively, including managing our enterprise clients through collections and recovery practices, to unlock the power of data and achieve the highest collections rates in our space – and we are confident that the commercial availability of Lynx will help more FIs harness their data to support their customers and financial programs better.”

Previous Article

May 25, 2023

RupeeRedee disbursed INR 500cr loans in FY23

Read More
Next Article

May 25, 2023

5 FinTech deals that occurred in Europe in May 2023

Read More








IBSi Daily News Analysis

February 20, 2024

AI-powered fraud

GCC banking landscape: UAE and Qatar lead in net sentiment

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 21, 2024

Adyen and Billie team up to bring BNPL to European businesses

Read More

February 21, 2024

The IBS Intelligence Webinar: Open Banking in the Middle East

Read More

February 21, 2024

5 FinTechs boosting payment gateway ecosystem in Philippines

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023