Third paragraph, second sentence should read: ...OmniaVerify can deliver an estimated 11x return on investment for lenders issuing at least $200,000 in loans annually (instead of ...OmniaVerify can deliver an estimated 11% return on investment for lenders issuing at least $200,000 in loans annually).

The updated release reads:

VERGENT LAUNCHES OMNIAVERIFY TO HELP LENDERS COMBAT FRAUD IN DIGITAL LOAN APPLICATIONS

Vergent, a complete fintech platform and provider of loan and financial technology solutions, has launched its latest innovation, OmniaVerify. Powered by AI technology, OmniaVerify helps lenders identify potential fraud in digital loan applications while strengthening trust in automated lending.

As part of Vergent’s expanding OmniaSuite, which supports origination, servicing, communication, payments, fraud prevention, and collections, OmniaVerify enables lenders to adopt modern digital strategies without exposing themselves to rising fraud risk. According to the Federal Trade Commission, more than 60% of personal loan originations occur through digital channels, creating new vulnerabilities for tech-savvy bad actors. Industry research has identified suspected fraud in 6% of unsecured loan applications. The most common tactic involves digitally generated or manipulated documents, often enhanced by generative AI. In fact, 5% of all identification documents, including driver’s licenses and passports, were found to be digitally altered or associated with synthetic identities.

OmniaVerify insulates lenders from these threats by automatically detecting digitally manipulated documents. With charge-offs accounting for as much as 15% of total losses in unsecured lending portfolios, OmniaVerify can deliver an estimated 11x return on investment for lenders issuing at least $200,000 in loans annually.

“OmniaVerify represents the latest way in which we are providing value to our customers,” said Scott Putnam, CEO of Vergent LMS. “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.”

About Vergent

Vergent is a complete fintech platform built to streamline and strengthen the full loan lifecycle, from application to collections. Recognized as SaaS Application of the Year, Vergent offers a scalable, cloud-based system that combines loan management, integrated payments, omnichannel communication, automation, and fraud protection. With over $1 trillion in loans serviced and more than 20,000 daily users across North America and Central America, Vergent integrates with more than 80 partner solutions to help lenders stay ahead in a fast-changing market. Founded in 2006, Vergent continues to lead the evolution of fintech lending. Learn more or schedule a free demo at www.vergentlms.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250716596959/en/