Hodge – the independently owned bank specialising in savings, niche mortgage lending, and commercial property financing – has invested in fraud protection with the announcement of its membership of the SIRA fraud prevention community.
This commitment will provide additional protection for mortgage customers.
Synectics Solution, which pioneered SIRA, the leading shared database of known fraud and adverse intelligence, will also support Hodge’s ambitious plans to grow its later life and specialist lending business.
Fraud has reached epidemic levels in the UK and should be seen as a national security issue, according to a recent report from think tank the Royal United Services Institute (RUSI). Against this backdrop, specialist lenders across the UK such as Hodge have recognised the importance of collaboration and data to improve their ability to defend against fraud and protect their customers.
Stuart Bain, Compliance Manager, at Hodge commented: “Inclusion in the National SIRA fraud prevention community will help us strengthen our customer analysis and enable us to use the insight to continue to tailor product and service offerings for our customers. Our trusted expertise is already known within the specialist lending sector and this will allow us to keep delighting our customers.”
Murray Raw, Head of Business Development at Synectics Solutions, commented: “The specialist lending market in the UK has tremendous growth potential as consumers are increasingly looking for financial products more closely aligned with their lifestyle and circumstances. With that growth comes a need to ensure that fraud defences are keeping up with the scale of their business. The key to combatting the rise in fraud is better collaboration, information sharing and use of data analytics.
“I’m pleased that Hodge have recognised the value that becoming a member of the SIRA fraud prevention community represents as they look to improve their fraud defences in line with their business growth.”
Synectics Solutions contacts
Murray Raw, Head of Business Development
To contact Synectics Solutions directly call 0333 234 3419 or email
Stuart Bain, Mortgages Compliance Manager
To contact Hodge directly call 029 2105 6525.
About Synectics Solutions
Synectics Solutions has been working with global financial institutions and data analysis organisations for 29 years, and is a recognised leader in the provision of fraud and financial crime risk analysis solutions. The systems it provides are currently deployed across 16 countries around the world, and are in operation 24/7, helping to protect their customers and enable them to make better decisions on financial risk.
Synectics has become widely known for its expertise in hosting and managing collaborative consortium data solutions, which are used in the critical infrastructure of these financial organisations, and also various UK government departments.
This includes the National SIRA and National Fraud Initiative (NFI) data consortiums, which have helped to provide around £5 Billion in savings for their members.
The company is fully ISO27001 certified, is a UK Government Specified Anti-Fraud Organisation, and has the infrastructure, expertise and experience required to carry out the many business-critical data solutions for some of the world’s most regulated organisations.
About Hodge Bank
Hodge is an independently owned bank specialising in savings, niche mortgage lending, and commercial property financing. It offers a wide range of mortgage products across later life (50+), holiday-let and buy-to-let markets providing its customers with flexible products to suit their individual needs. Commercial property focuses on development and investment finance, and offers saving products to private individuals, business and commercial clients.
With a history of innovation, Hodge was first to market for equity release over 50 years ago and continues to champion changing customer needs, introducing the first ever fixed for life Retirement Interest Only (RIO) mortgage product in 2019.
Tracing its roots back to 1965, founded by Sir Julian Hodge, the business is headquartered in Cardiff, and its vision is to help empower its customers to realise their financial goals.
Hodge is majority owned by the Hodge Foundation, a charity set up by Sir Julian Hodge in 1962. The Foundation awards grants to charities across a range of causes. More information can be found on the website www.hodge.co.uk.
Follow @HodgeBank on Twitter
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For more information please contact:
Kath Chadwick or Lynsey Walden at Front Door Communications on [email protected]/[email protected] and 029 20 020360.