Vergent, a complete fintech platform and provider of loan and financial technology solutions, has launched OmniaVerify, an AI-powered tool designed to detect potential fraud within digital loan applications.OmniaVerify is the latest addition to Vergent’s OmniaSuite, a comprehensive platform that supports various stages of the loan lifecycle, including origination, servicing, communication, payments, fraud prevention, and collections. The new solution aims to enable lenders to confidently adopt modern digital strategies while mitigating the rising risks associated with online fraud.The shift to digital channels has introduced new vulnerabilities for lenders. Data from the Federal Trade Commission indicates that over 60% of personal loan originations now occur digitally. Industry research has identified suspected fraud in 6% of unsecured loan applications, with a common tactic involving digitally generated or manipulated documents, often enhanced by generative AI. Furthermore, 5% of all identification documents, such as driver’s licenses and passports, have been found to be digitally altered or linked to synthetic identities.OmniaVerify addresses these challenges by automatically detecting digitally manipulated documents, thereby insulating lenders from such threats. Given that charge-offs can account for up to 15% of total losses in unsecured lending portfolios, Vergent estimates that OmniaVerify can deliver an 11% return on investment for lenders originating at least $200,000 in loans annually.Scott Putnam, CEO of Vergent LMS, commented on the launch, stating, “OmniaVerify represents the latest way in which we are providing value to our customers. We want lenders to be fearless when they commit to improving their lending technology, yet the increase in fraud represents a major barrier for many lenders who need to catch up to the competition. OmniaVerify protects lenders so they can confidently employ the latest lending technology.”Founded in 2006, Vergent is a fintech platform built to streamline and strengthen the entire loan lifecycle. Recognized as SaaS Application of the Year, the company offers a scalable, cloud-based system that integrates loan management, payments, omnichannel communication, automation, and fraud protection. Vergent has serviced over $1 trillion in loans and supports more than 20,000 daily users across North America and Central America, integrating with over 80 partner solutions.