Another notable point from that survey was that more than 50% of respondents were aiming to digitise their onboarding process over the next two years. The creation of best-in-class technology to guard against receivables fraud is something that my colleagues have been pioneering for years and more than 90% of the UK industry now uses Lenvi Riskfactor.
However, reflecting the current economic climate, we’re seeing an increase in discussions with clients who want to ensure they’re making the most of the technology. We’re also talking to others in the sector who realise that their existing manual checks are far from adequate.
If you have concerns about how your organisation is going to cope with the growing threat of receivables fraud do get in touch. If anyone can help, we can!