The ...
UK-based lending technology provider Lenvi has unveiled its new automated loan verification software, ALVIN, designed to combat fraud risks such as double pledging. The launch follows a series of high-profile fraud cases involving MFS, Tricolor, and First Brands Group.
Double pledging takes place when a borrower uses the same asset as collateral to secure multiple loans from different lenders simultaneously—without informing the lenders that the collateral has already been pledged as...