Synectics Solutions has joined the Association of Shot Term Lenders (ASTL) as an associate member.

It is a data management and software development service provider based in Newcastle-under-Lyme, Staffordshire. It also provides fraud prevention and detection products.

This addition to the ASTL membership takes the number of associate members to 23 with 32 full members.

Carol Shanahan, managing director at Synectics Solutions, said: “At Synectics Solutions, we strive to remain at the forefront of the fight against fraud and financial crime. We are committed to ensuring that our products are equipped with the most up to date analytical functionality to enable our clients to deal with the evolving nature of fraud and the wider issue of financial crime.

“Our partnership with the ASTL will allow us to help its members achieve more profitable customer relationships, reduce risks and combat financial crime. We will also enable members to meet their compliance and regulatory requirements. We hope to mutually learn from other members of the association to better understand how we can, collectively, combat fraud and financial crime.”

Benson Hersch, chief executive of the ASTL, added: “Despite the big leap that the short term lending market has made this year, members of the ASTL still need to stay vigilant of fraud. At our recent annual conference, it was reiterated how non-bank lenders, such as bridging firms, are key targets of fraud.

“Preventive measures need to be put in place and we welcome the innovation and insight presented by the likes of Synectics Solutions in addressing these concerns.”