Fig, a Canadian personal loan provider, has partnered with Flagright to strengthen its AML and fraud defences as the company expands its lending operations across Canada.
The partnership has been established to help Fig enhance its ability to detect and respond to financial crime threats in real time, ensuring both regulatory compliance and customer safety. By integrating Flagright’s technology, Fig aims to manage disbursements and repayments with stronger oversight while scaling its loan services nationwide.
Fig offers borrowers a fully digital loan process, enabling users to check their rate in seconds, apply in minutes, and receive funding within one business day. The company specialises in debt consolidation, allowing Canadians to merge high-interest debt into a single fixed-rate loan with no hidden charges or early repayment fees. Its model is designed to simplify borrowing and streamline repayment through an online-only platform.
Flagright, meanwhile, provides financial institutions with real-time transaction monitoring, AML screening, risk scoring, AI-powered forensics, and integrated case management. Its platform allows companies to configure rules in minutes, detect high-risk events, and perform instant screening against global sanctions, politically exposed persons (PEP), and adverse media databases. With an auditable workspace, it also enables more efficient investigations and compliance reporting.
As part of this collaboration, Fig will use Flagright’s no-code rules engine and case management workspace to respond rapidly to emerging fraud and AML threats, while also strengthening documentation and oversight processes. This will support the lender in meeting regulatory standards while preserving its fast and seamless loan approval system.
Fig chief credit & risk officer Ardalan Shojaei said, “Our fraud and AML risk teams need agile tools that grow with the business. Flagright’s no-code rules engine and case workspace will let us react to emerging threats quickly and effectively, while investigating and documenting every decision efficiently.”
Shojaei added, “Fig’s mission is to simplify the borrowing experience, while keeping our customers safe. Our partnership with Flagright also allows us to continue to maintain high compliance standards.”
Flagright co-founder and CTO Madhu Nadig said, “We’re excited to welcome Fig as our customer, as they redefine the lending experience in Canada. With Flagright in place, Fig can continue to deliver fast, hassle-free loans while knowing every transaction is screened, scored, and managed with best-in-class controls.”
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