The Bridging & Development Lenders Association (BDLA) has launched a bespoke early warning system for fraud, advancing intelligence-sharing within the short-term property finance sector.
Developed in partnership with fraud prevention specialists Synectics Solutions, the initiative will provide BDLA members with access to a level of fraud insight typically reserved for the UK’s largest financial institutions.
The system is built around secure, real-time data sharing and is designed specifically for the unique challenges faced by lenders operating in the fast-paced bridging and development market.
The platform will be rolled out in phases over the coming months and will integrate with Synectics’ National SIRA system – a leading fraud prevention database widely used across UK financial services. The BDLA emphasised that the system has been designed in full compliance with GDPR and UK data protection laws.
Vic Jannels, chief executive of the BDLA, said the new capability was a response to rising fraud risks in an increasingly complex market.
“Fraud remains one of the most significant challenges facing the bridging and development lending sector,” he said. “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.”
The new fraud prevention capability will complement the BDLA’s existing suite of due diligence tools. By providing a shared view of suspicious patterns and behaviours across its membership, the system aims to enable faster, more informed decision-making during the loan application process.
Maxwell Hughes, business development manager at Synectics Solutions, said: “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.”
