Fraud Case Manager is designed to avoid delays linked with traditional methods
ACES Risk Management (ARMCO) has introduced Fraud Case Manager, a new tool for managing and analyzing fraud investigations.
ARMCO is a provider of technology for loan quality and compliance testing, data validation, and analytics.
Mortgage lenders are legally required to monitor and report suspicious activities. With numerous investigations ongoing at any given time, most lenders resort to spreadsheets or disparate technologies to manage them. ARMCO said these are prone to security breaches and errors.
“Fraud cases are full of confidential details and valuable data, and most lenders aren’t using this data to their advantage,” ARMCO President Phil McCall said. “Now, lenders can use Fraud Case Manager to protect sensitive information, analyze data for strategies going forward, and increase efficiency and accuracy.”
Fraud Case Manager is a secure, fully configurable web-based tool that offers lenders a central location to manage all their investigations. The tool was designed to avoid the risks and delays associated with traditional fraud case management methods.
Instead of having to go through a number of spreadsheets and other tools, lenders using Fraud Case Manager could track any detail of any case in seconds. The tool also allows lenders to limit usage to authorized parties as well as analyze the data and create reports to generate insights for strategies going forward.
“Fraud will never be eliminated – lenders’ best defense is identifying trends as quickly as possible,” said McCall. “Now they can uncover the issues that trigger investigations in moments, whether brought about by staff members, oversights, or any other variable. That’s the biggest step forward lenders can take in mitigating fraud risk.”
