On Thursday, ACES Risk Management (ARMCO) announced the launch of its new Fraud Case Manager, a web-based project management and analysis tool aimed at centralizing fraud investigations into a single system.
“Fraud cases are full of confidential details and valuable data, and most lenders aren’t using this data to their advantage,” said Phil McCall, President of ARMCO. “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 intended to be a more efficient system for mortgage lenders in monitoring and reporting suspicious, possibly fraudulent activity. While lenders traditionally rely on spreadsheets or other systems to handle multiple cases simultaneously, this opens them up to data breaches and other issues.
ARMCO states that the Fraud Case Manager is centralized, secure, and fully configurable web-based alternative to these systems. Additionally, Fraud Case Manager promises to be faster and more efficient than other methods, reducing delays significantly. It offers search options so that a user can open a case in seconds rather than search through large amounts of spreadsheets and other data systems. For added security, Fraud Case Manager limits usage to authorized parties, reducing the risk of data breaches in more open systems such as spreadsheets.
Fraud Case Manager also gives the option for users to create reports and analyze data in order to provide a clear picture 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.”