EQ Launches SaaS Fraud Detection Tool for U.S. Lenders

EQ U.S. launched a new cloud-hosted SaaS model of its existing EQ Riskfactor product for the U.S. market. EQ Riskfactor’s risk management technology uses automation to identify potential frauds and highlight unusual activity using advanced analytics so that lenders can investigate and reduce risk.

The technology also helps lenders eliminate manual processes. The new SaaS, cloud-hosted version was developed to service the large U.S. commercial finance market. Deployment of the product will now be streamlined.

The new SaaS product is available for U.S. lenders and is compatible with all major operating platforms in the U.S. The SaaS model is deployed through the cloud. Before a new customer goes live, experts from EQ Riskfactor will conduct training and provide support throughout the implementation period.

“Offering a cloud delivery method opens up our solution to all receivables lenders in the U.S.,” Aaron Hughes, managing director at EQ Riskfactor, said. “This is an exciting time for the business and our new product will scale our offering to a much wider market and offer a more streamlined and cost-effective customer experience.

“Risk management is a critical process for companies in the factoring and receivables industry and by offering EQ Riskfactor as a cloud-hosted, SaaS model, we will streamline the service for customers. This will result in time and cost savings while maintaining the exemplary standards we pride ourselves on delivering. I look forward to seeing new customers benefit from our unique combination of expertise and proven risk management software, which pulls together global best practice.”

EQ U.S. is a part of Equiniti Group, which is an international technology-led services and payments specialist that provides non-discretionary payment and administration services to brands and public-sector organizations in the UK.