AMP Bank transforms lending with Fortiro

This article was produced in partnership with Fortiro

AMP Bank is digitising income verification and document fraud checks as part of its new lending platform for brokers to be launched in the coming months.

In partnership with Fortiro, the bank can automate the extraction of income data, check documents for fraud and flag discrepancies at the point of submission. As a result, the bank can make faster lending decisions, stop fraudulent applications upfront, and deliver a more seamless experience to brokers and borrowers.

Faster income verification and fraud checks means a faster ‘time to yes’

Income verification and fraud checks are often some of the most time-consuming steps in the lending journey. AMP Bank set out to find a faster, more reliable way to verify income and detect fraud using documents already collected by brokers, such as payslips and individual tax returns.

Fortiro allows AMP Bank to run these checks instantly for a wide range of borrowers who choose to use documents for verification. Completing income and fraud checks pre-submission reduces delays and gives brokers greater certainty earlier in the process. The result is a faster ‘time to yes’ to meet growing demand for quick loan approvals.

“Using Fortiro is helping us accelerate the broker and borrower experience,” said Sean O’Malley, chief executive officer at AMP Bank (left in photo). “It means a high percentage of applications can now be automated, which makes the overall journey significantly faster.”

“With Fortiro, we can reduce manual work, speed up applications and provide faster decisions to brokers,” added Melissa Christy, head of lending origination at AMP Bank (middle in photo).

Enhancing operational scalability

As loan volumes grow, many lenders are looking to scale operations without significantly increasing headcount or compromising risk controls. Fortiro helps AMP Bank achieve this. Suspected fraud is escalated to humans for review, allowing the bank to focus resources where they are needed most.

“Fortiro is a key partner in helping us prevent fraud, extract income information early from payslips or individual tax returns, and verify that income upfront,” said O’Malley. “This supports our long-term goal of fully automating the home lending experience and scaling without adding complexity.”

Fortiro integrates seamlessly into AMP Bank’s new lending platform, requiring minimal setup or ongoing maintenance. Verified income data is returned directly into Loanapp – AMP’s new lodgement platform and any issues are flagged early to support faster and more informed decisions. 

“Fortiro helps us scale without adding friction or overhead.” Christy said.

Strengthening risk management

Document fraud remains a serious threat to lenders. Fortiro reduces exposure by checking for tampering while verifying income, flagging concerns before applications reach credit teams.

“Once the broker uploads payslips, Fortiro scans them and returns the verified income directly into the application,” said Christy. “That means we can show the broker the income on screen. If there are any issues with the documents, the credit team can see the fraud alerts when they receive it. By reducing the reliance on manual checks, AMP Bank is improving consistency, lowering fraud risk and associated costs, while strengthening compliance.

Delivering a competitive advantage for AMP Bank

Speed and simplicity are now key differentiators in the lending market. Fortiro enables AMP Bank to shorten turnaround times, reduce manual document reviews and deliver a smoother experience for brokers and borrowers.

“For us, the choice about Fortiro as a strategic partner was obvious,” said O’Malley. “They have great technology, they are a strong company, and they have a real commitment to using that technology to enhance the experience for brokers and consumers, and ultimately, for AMP Bank.”

AMP Bank’s ability to make fast decisions using verified document data has strengthened its position as a responsive lender. These capabilities give the bank access to a broader range of applicants, helping AMP attract more business, accelerate approvals and deliver a better experience at every stage of the lending journey.

Future-proofing lending processes

AMP Bank continues to invest in solutions that support brokers and the evolving borrower needs amid tighter regulatory requirements. Fortiro plays a key role in helping the bank adapt quickly without adding operational complexity.

By accepting common income documents as well as payroll integrations, the bank can serve a broader range of borrowers while preserving a seamless digital experience.

“Documents are a really important part of the mortgage origination process,” said Christy. “Digitally verifying income was key for us to solve, so we could make the experience better for both brokers and customers and bring brokers closer to the decision.”

Sean Quagliani, chief executive officer at Fortiro (right in photo), added, “Fortiro is proud to partner with AMP Bank to make home loans simpler and faster for brokers and borrowers. Fortiro plays a key role by digitally verifying income and checking documents for fraud, and we are excited to help AMP Bank set new standards for their customers.”

Fortiro is a technology company that helps financial institutions detect document fraud and verify financial information.  Leading banks and lenders, including three of Australia’s big four, use Fortiro to detect document fraud, automate income verification and accelerate decision times. Fortiro’s platform comprises Fortiro Protect to detect document fraud, Fortiro Accelerate to verify income and expenses, and Fortiro Redact to remove sensitive information from documents. Fortiro processes millions of documents such as payslips, bank statements and tax returns. Headquartered in Australia, with a growing presence in North America, Fortiro aims to be the global leader in document fraud detection and verification. 

For more information on Fortiro, click here.