26/09/2011

By Scott Thompson

Aldermore Bank has integrated the Q-Guard fraud detection and prevention tool into its risk management procedures.

Aldermore - which launched in May 2010 – says it will benefit from the solution’s ability to intelligently identify any mortgage applications that contain inconsistent or suspicious characteristics. On receipt of the mortgage valuation, the automated system alerts the bank to any concerns that require further investigation, removing the need for the risk team to rely solely on manual inspection of data.

Charles Haresnape, managing director of residential mortgages, Aldermore Bank says: “We are fully focused on responsible lending and so our business model is very straightforward as a result: we are not involved in any high-risk banking activities or the marketing of any exotic financial products, which have caused problems for so many financial institutions in the past. We have also put prudent risk measures in place to ensure we keep ahead of the curve when it comes to financial crime management.”