BDLA launches fraud early warning system 

The Bridging & Development Lenders Association (BDLA) has partnered with fraud prevention specialists Synectics Solutions to deliver a bespoke fraud intelligence-sharing solution tailored specifically for the needs of short-term property lenders.

The collaboration gives lenders access to a level of fraud prevention insight traditionally reserved for only the largest financial institutions.

Built around secure, real-time intelligence sharing, the solution will enable BDLA members to act faster when it comes to identifying red flags and suspicious activity during the lending process.

The initiative complements the BDLA’s existing suite of due diligence tools that are available to members.

The bespoke solution will be rolled out to BDLA members in phases over the coming months. Underpinned by Synectics Solutions National SIRA system, it will operate in full compliance with GDPR and UK data protection standards.

Vic Jannels, CEO of the BDLA, commented: “Fraud remains one of the most significant challenges facing the bridging and development lending sector. As the market grows in both volume and complexity, so too does the risk posed by increasingly sophisticated fraudulent activity.

“At the BDLA, we’ve made it a priority to help lenders stay one step ahead of the fraudsters and our collaboration with Synectics Solutions represents a significant stride forward in tackling this issue head-on.

“The development of a bespoke fraud early warning system, designed specifically for the needs of short-term lenders, enables secure real-time intelligence sharing that will help our members to identify red flags and suspicious activity at the earliest possible stage.

“This joint initiative will be instrumental in protecting lenders, while supporting the continued integrity and growth of our market.”

Maxwell Hughes, business development manager at Synectics Solutions, added: “We’re proud to work with the BDLA to bring this tailored fraud prevention tool to the specialist finance space. Lenders operating in the bridging and development market face unique risks given the speed of transactions, and our technology is designed to provide actionable insights that make a real difference.

“By making shared intelligence more accessible, we can collectively reduce exposure to fraud and strengthen trust across the sector. Collaboration like this gives us greater power to spot, identify and prevent fraud and financial crime.”