Bectran Boosts Security and Efficiency in Credit Management
Enhancing Security and Efficiency in Credit Management
Bectran, Inc., a leader in credit, collections, and accounts receivable management technology, recently unveiled a new integration with a top global data and technology firm. This integration is set to revolutionize the credit application process by providing advanced identity verification, fraud detection, and risk-based authentication right at the point of application.
Transforming Credit Workflows
Louis Ifeguni, the CEO of Bectran, highlighted the impressive capabilities of this new feature. This integration equips clients with a robust baseline report that transforms the workflows associated with credit applications. The result? A simplified verification process that strengthens fraud security while minimizing costs and the necessity of multiple reports for each application.
Addressing Identity and Lending Fraud
Credit managers often find themselves exposed to the risks of identity and lending fraud during the credit application review process. Bectran’s innovative integration provides a comprehensive solution to mitigate these risks by leveraging an expansive network of live identity databases.
Now, credit managers can utilize a streamlined service that facilitates fraud prevention and thorough applicant verification reporting directly through the Bectran platform. This service encompasses personal and commercial reporting aspects, allowing for the verification of an applicant’s identity, business, personal guarantors, and key officers. The configurable confidence-based risk score evaluates critical factors such as business names, corporate registration statuses, addresses, and commercial risk scores, ensuring that thorough verification processes are in place.
Confidence Through Cross-referencing
With this new reporting capability, credit managers are empowered to have confidence in their decisions. They can ascertain that an applicant is genuine and that their business operates legitimately. By integrating data from various third-party databases, Bectran provides multiple layers of verification that enhance the reliability of the information presented.
Immediate Alerts for Enhanced Protection
The integration also ensures heightened fraud protection by automatically flagging any discrepancies between applicant data and the information retrieved in the reports. Credit managers receive immediate alerts, allowing them to address potential issues without needing to interrupt their workflow on the Bectran platform.
About Bectran
Bectran stands as the leading SaaS platform tailored for finance departments, akin to how CRM platforms serve sales teams. The company has earned the trust of organizations ranging from small and medium-sized enterprises (SMEs) to Fortune 500 corporations. Bectran's technology significantly streamlines credit processing by over 98%, which means drastically reduced credit defaults and collection costs.
Firms across industries rely on Bectran for effective accounts receivable and collections management, achieving remarkable cost savings of up to 95%. The platform's ability to onboard clients rapidly within days positions it as a modern solution that credit professionals regard as pivotal to the future of credit management. Explore more about innovative financial solutions at Bectran.com.
Aidan Starkes
Content & Copywriter
Bectran Inc
(888) 791-6620
PR@Bectran.com
Frequently Asked Questions
What new features has Bectran introduced?
Bectran has launched new integration for enhanced identity verification, fraud detection, and risk-based authentication in credit applications.
How does the integration improve the credit application process?
The integration simplifies workflows, reduces costs of multiple reports, and enhances fraud security through a comprehensive reporting system.
What kind of reports can credit managers access?
Credit managers can access detailed reports that cover both personal and commercial verification, including identity, business integrity, and risk assessments.
How quickly can one get onboarded with Bectran?
Bectran’s platform allows for rapid onboarding, achieving setup and integration in just a few days.
What industries does Bectran cater to?
Bectran serves a wide range of industries, offering solutions to both SMEs and Fortune 500 companies in managing credit and collections.
About The Author
Contact Logan Wright privately here. Or send an email with ATTN: Logan Wright as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
