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OLA One: First in Fintech [Nov/Dec]

By December 5, 2018No Comments

OLA One — highlighting the latest trends, data and OLA member news impacting the fintech and online lending industry. Check out this month’s version below, and stay tuned for more!

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Customer friction is now number one challenge for fraud detection reveals IDology’s Sixth Annual Fraud Report   

Now in its sixth year, IDology’s annual Fraud Report measures fraud trends across a variety of industries in order to better understand the identity and fraud landscape, detect emerging developments, and offer insights for businesses. Some of the key insights form the report are:
  • The biggest challenge to fraud prevention is balancing customer friction, which increased by 65% over last year. Tackling shifting fraud tactics was the second biggest challenge. 
  • Phishing schemes and mobile fraud had explosive growth. 
  • Financial services businesses feel particularly unequipped to handle synthetic identity fraud, and mobile fraud.
  • 85% of survey respondents say an optimized identity verification process can be a strategic differentiator for meeting their business goals.
Download the report to learn more about the challenges and fraud trends companies are facing. 
INDUSTRY POLICING FOR A SAFER CONSUMER EXPERIENCE
OLA members comply with a superior Code of Conduct and Best Practices that surpass legal standards and include everything from how a loan is advertised to how debt is collected.

As part of our policing program, we crawl hundreds of thousands of websites each year through a state-of-the-art process to identify companies that are in violation of our best practices.  
Computerworld Names Enova International to 2018
List of 100 Best Places to Work in IT
Computerworld ranked OLA member company, Enova (NYSE:ENVA), second among midsize organizations in its annual Best Places to Work in IT list, based on employee and company data. This is the sixth consecutive year Enova has been named to the list of the top 100 organizations that challenge their IT teams with engaging work in a fun culture with great benefits, perks and pay.

Over the past two years, Enova’s leadership has focused on crafting an Awesome Place to Work where the culture is mission-and-values-driven. Team members work both independently and collaboratively to fulfill Enova’s mission of helping hardworking people get access to trustworthy credit.
Congratulations to the entire team for working hard to create an Awesome Place to work.  See the Computerworld results here and read Enova’s press release here. 

 

LINK TO STORY

OLA is a growing association of fintech companies who share a common goal: to proudly serve hardworking Americans who need trustworthy credit.

OLA members harness technology to deliver safe, convenient, private and reliable credit options, offering financial inclusion and empowerment. 
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