What's new on Prelim

Release Date: 09/05/2025

Applies To: All Clients using Bank Connect

Category: Fraud Mitigation

🧩 Summary

Prelim now verifies whether applicants match the owners of the bank accounts they connect through Bank Connect. This feature automatically checks if applicant names match account holder names and surfaces warnings in key parts of the workflow—helping bankers spot potential fraud before approval.

🆕 What’s New

• Account holder information displayed in funding tab

  A new Bank Connect section in the Funding Tab displays the personal details of all account holders on the connected bank account—making it easy for bankers to verify that applicants are using their own accounts.

  

  
  

• Auto-Decisioning Flag: has_matching_account_holder

  Our name-matching algorithm flags mismatches using a new field: has_matching_account_holder, available on the Bank Connect input. You can use this field in your Rules Builder to route mismatched applications to manual review before approval.

• Warnings at the point of review

  When reviewing applications via the Verifications Tab or a Verifications Input, Prelim will display a warning banner if no account holder match was found—prompting bankers to check the Funding Tab for details.

  

  
  

💼 Benefits

• Enhanced Compliance & Risk Mitigation

  Strengthens KYC/AML compliance by surfacing mismatches between applicants and account holders—helping reduce fraud risk tied to unauthorized funding sources.

⚙️ Configuration & Access

• Default State: Enabled by default for all live Online Consumer Account Opening customers.
• How to Enable:
  • For customers in implementation:
    • Please contact your Prelim Project Manager or email support@prelim.com to enable this feature.
• Permission Required: Admin

🧑‍💼 Need Help?

Contact your Prelim customer success manager or email support@prelim.com with any questions