Screening, sampling and field verification: how lenders check a loan file
What a fraud control unit actually does, why most of it is still manual, and where automation helps most.
Read · 6 minToday we are introducing GIX Verify, a loan-file screening platform built for Indian lenders. It reads every document in a loan file, verifies key details at the source, runs fraud and policy checks for the loan product, and gives the lender a clear Green, Amber or Red report.
Why product first
A home loan file and an unsecured business loan file need different documents and carry different risks. GIX Verify starts with the product: it knows the document checklist for each one, the checks that run on each document, and the policy limits the lender sets for that product.
| Product | Documents | Checks on a typical file |
|---|---|---|
| Home loan | 24 | 112 |
| Loan against property | 22 | 105 |
| MSME working capital | 21 | 100 |
| MSME term loan | 21 | 100 |
| Auto loan | 17 | 88 |
| Personal loan | 14 | 75 |
| Business loan (unsecured) | 16 | 81 |
What lenders get
- A screening report for every file, with the evidence and the next action for each flag.
- Targeted sampling: field visits only where the findings call for one.
- Cross-file fraud checks across the lender's whole book.
- CMA Forms I to VI and permissible bank finance for MSME loans.
We are now speaking with lenders about pilots. If you would like to see GIX Verify on your own sample files, request a demo.