A declaration by Spring Labs says that 16 Fintech Leaders have joined the SFIP which refers to the Spring Founding Industry Partners Program in the journey of preventing Frauds and enhance ID verification capabilities.
Noah Breslow, CEO of OnDeck Capital, comments -“As an ever-increasing amount of financial transactions move online, new types of mission-critical fraud and ID verification solutions, based on information-sharing, must be developed.” He also says “We believe the team at Spring Labs has the right background to galvanize industry leaders around the creation of a new and innovative network.”
Some of the Fintech Companies which are in collaboration with the SFIP program are SoFi, OnDeck Capital, Avant, GreenSky, Funding Circle, BlueVine, Fundation, Upgrade, Fundbox and Better Mortgage, and many more.
The feature that makes the spring protocol different is its unique nature which allows us to exchange information without sharing the security data with the help of blockchain technology and advanced used of cryptocurrency.
John Sun, President and Chief Product Officer of Spring Labs says “We are extremely excited about the initial partners, and this is an incredible opportunity to expand the development of the Spring Network. We have plans to include other verticals in the near future, and look forward to announcing those partnerships in the coming months.”