Latest news with #WesternAllianceBank
Yahoo
19-05-2025
- Business
- Yahoo
Western Alliance Bank's and Digital Disbursements' Triangle of Fraud Protection Named as Innovation of the Year by American Banker
Digital Disbursements and ClaimScore Recognized in Annual Award's Cybersecurity and Fraud Category PHOENIX, May 19, 2025--(BUSINESS WIRE)--Western Alliance Bank's subsidiary Digital Disbursements, the leading digital payments platform for the class action legal industry and part of the bank's Juris Banking Group offering, today announced that their Anti-Fraud Triangle innovation, developed in partnership with ClaimScore, a data-driven fraud prevention software solution for class action settlements, has been selected as American Banker's Innovation of the Year in the Cybersecurity and Fraud category. The prestigious award recognizes 2024's most groundbreaking and influential technology-focused innovations, and the teams that brought them to life at banks, financial institutions and fintechs. The Anti-Fraud Triangle was developed in response to the 19,000% surge in fraudulent class action and mass tort claims, which skyrocketed from approximately 400,000 in 2021 to more than 80 million in 2023. The integrated platform combines the respective services offered by Digital Disbursements and ClaimScore, with the variety of tools offered by the particular settlement administrator in any given case to detect and prevent waste, fraud, and abuse. The integrated solution is far more effective than the sum of the individual components: in 2024 alone, the Anti-Fraud Triangle identified and prevented more than 800 million fraudulent claims. Had all of those claims been approved, the bad actors would have received well over $100 million in fraudulent payouts. "We are deeply honored by this recognition, which comes at a time when innovative fraud protection strategies are needed more than ever," said Digital Disbursements Founder and Co-CEO Jeff Richardson. "Thank you to American Banker and to our partners, who entrusted us with the implementation of a modern, claimant-first solution, which was made possible through our collaboration with ClaimScore. The Anti-Fraud Triangle has endless potential both within and outside the settlement space, and we will continue to capitalize on its innovative capabilities." Digital Disbursements and Western Alliance Bank recently released their third annual "Digital Payments in Class Actions and Mass Torts" report, which revealed that the number of claims with significant indicia of fraud in 2024 dropped for the first time on record after the dramatic increase between 2021 and 2023. About Western Alliance Bancorporation With more than $80 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the country's top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, clients benefit from a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by industry experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (previously Institutional Investor's) All-America Executive Team Midcap 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bancorporation. About Digital Disbursements A subsidiary of Western Alliance Bank, Digital Disbursements addresses the evolving payment needs of those in the legal, financial and other industries through its award-winning technology. The proprietary platform enables all types of payees, including those with claims from class actions, mass torts and bankruptcies, to choose how they would like to receive their payments, with options ranging from direct-to-bank accounts to popular digital wallets and credit cards. The benefits include improved deliverability, reduced cost and mitigated fraud, while also allowing the unbanked to receive their funds without high check-cashing fees. Digital Disbursements is part of Western Alliance Bancorporation, which has more than $80 billion in assets. To learn more, visit Western Alliance Bank's Digital Disbursements. About ClaimScore ClaimScore LLC is a technology company that offers AI-based claim validation software for class action settlements. Designed to provide a transparent and efficient approach to the claims process, ClaimScore's proprietary scoring system and real-time reporting stands as the gold standard in claim validation software. View source version on Contacts Media Contact:Stephanie Whitlow, SWhitlow@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
19-05-2025
- Business
- Business Wire
Western Alliance Bank's and Digital Disbursements' Triangle of Fraud Protection Named as Innovation of the Year by
PHOENIX--(BUSINESS WIRE)--Western Alliance Bank's subsidiary Digital Disbursements, the leading digital payments platform for the class action legal industry and part of the bank's Juris Banking Group offering, today announced that their Anti-Fraud Triangle innovation, developed in partnership with ClaimScore, a data-driven fraud prevention software solution for class action settlements, has been selected a s American Banker 's Innovation of the Year in the Cybersecurity and Fraud category. The prestigious award recognizes 2024's most groundbreaking and influential technology-focused innovations, and the teams that brought them to life at banks, financial institutions and fintechs. The Anti-Fraud Triangle was developed in response to the 19,000% surge in fraudulent class action and mass tort claims, which skyrocketed from approximately 400,000 in 2021 to more than 80 million in 2023. The integrated platform combines the respective services offered by Digital Disbursements and ClaimScore, with the variety of tools offered by the particular settlement administrator in any given case to detect and prevent waste, fraud, and abuse. The integrated solution is far more effective than the sum of the individual components: in 2024 alone, the Anti-Fraud Triangle identified and prevented more than 800 million fraudulent claims. Had all of those claims been approved, the bad actors would have received well over $100 million in fraudulent payouts. 'We are deeply honored by this recognition, which comes at a time when innovative fraud protection strategies are needed more than ever,' said Digital Disbursements Founder and Co-CEO Jeff Richardson. 'Thank you to American Banker and to our partners, who entrusted us with the implementation of a modern, claimant-first solution, which was made possible through our collaboration with ClaimScore. The Anti-Fraud Triangle has endless potential both within and outside the settlement space, and we will continue to capitalize on its innovative capabilities.' Digital Disbursements and Western Alliance Bank recently released their third annual 'Digital Payments in Class Actions and Mass Torts' report, which revealed that the number of claims with significant indicia of fraud in 2024 dropped for the first time on record after the dramatic increase between 2021 and 2023. About Western Alliance Bancorporation With more than $80 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the country's top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, clients benefit from a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by industry experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (previously Institutional Investor's) All-America Executive Team Midcap 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bancorporation. About Digital Disbursements A subsidiary of Western Alliance Bank, Digital Disbursements addresses the evolving payment needs of those in the legal, financial and other industries through its award-winning technology. The proprietary platform enables all types of payees, including those with claims from class actions, mass torts and bankruptcies, to choose how they would like to receive their payments, with options ranging from direct-to-bank accounts to popular digital wallets and credit cards. The benefits include improved deliverability, reduced cost and mitigated fraud, while also allowing the unbanked to receive their funds without high check-cashing fees. Digital Disbursements is part of Western Alliance Bancorporation, which has more than $80 billion in assets. To learn more, visit Western Alliance Bank's Digital Disbursements. ClaimScore LLC is a technology company that offers AI-based claim validation software for class action settlements. Designed to provide a transparent and efficient approach to the claims process, ClaimScore's proprietary scoring system and real-time reporting stands as the gold standard in claim validation software.
Yahoo
19-05-2025
- Business
- Yahoo
Western Alliance Bank's and Digital Disbursements' Triangle of Fraud Protection Named as Innovation of the Year by American Banker
Digital Disbursements and ClaimScore Recognized in Annual Award's Cybersecurity and Fraud Category PHOENIX, May 19, 2025--(BUSINESS WIRE)--Western Alliance Bank's subsidiary Digital Disbursements, the leading digital payments platform for the class action legal industry and part of the bank's Juris Banking Group offering, today announced that their Anti-Fraud Triangle innovation, developed in partnership with ClaimScore, a data-driven fraud prevention software solution for class action settlements, has been selected as American Banker's Innovation of the Year in the Cybersecurity and Fraud category. The prestigious award recognizes 2024's most groundbreaking and influential technology-focused innovations, and the teams that brought them to life at banks, financial institutions and fintechs. The Anti-Fraud Triangle was developed in response to the 19,000% surge in fraudulent class action and mass tort claims, which skyrocketed from approximately 400,000 in 2021 to more than 80 million in 2023. The integrated platform combines the respective services offered by Digital Disbursements and ClaimScore, with the variety of tools offered by the particular settlement administrator in any given case to detect and prevent waste, fraud, and abuse. The integrated solution is far more effective than the sum of the individual components: in 2024 alone, the Anti-Fraud Triangle identified and prevented more than 800 million fraudulent claims. Had all of those claims been approved, the bad actors would have received well over $100 million in fraudulent payouts. "We are deeply honored by this recognition, which comes at a time when innovative fraud protection strategies are needed more than ever," said Digital Disbursements Founder and Co-CEO Jeff Richardson. "Thank you to American Banker and to our partners, who entrusted us with the implementation of a modern, claimant-first solution, which was made possible through our collaboration with ClaimScore. The Anti-Fraud Triangle has endless potential both within and outside the settlement space, and we will continue to capitalize on its innovative capabilities." Digital Disbursements and Western Alliance Bank recently released their third annual "Digital Payments in Class Actions and Mass Torts" report, which revealed that the number of claims with significant indicia of fraud in 2024 dropped for the first time on record after the dramatic increase between 2021 and 2023. About Western Alliance Bancorporation With more than $80 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the country's top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, clients benefit from a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by industry experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (previously Institutional Investor's) All-America Executive Team Midcap 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bancorporation. About Digital Disbursements A subsidiary of Western Alliance Bank, Digital Disbursements addresses the evolving payment needs of those in the legal, financial and other industries through its award-winning technology. The proprietary platform enables all types of payees, including those with claims from class actions, mass torts and bankruptcies, to choose how they would like to receive their payments, with options ranging from direct-to-bank accounts to popular digital wallets and credit cards. The benefits include improved deliverability, reduced cost and mitigated fraud, while also allowing the unbanked to receive their funds without high check-cashing fees. Digital Disbursements is part of Western Alliance Bancorporation, which has more than $80 billion in assets. To learn more, visit Western Alliance Bank's Digital Disbursements. About ClaimScore ClaimScore LLC is a technology company that offers AI-based claim validation software for class action settlements. Designed to provide a transparent and efficient approach to the claims process, ClaimScore's proprietary scoring system and real-time reporting stands as the gold standard in claim validation software. View source version on Contacts Media Contact:Stephanie Whitlow, SWhitlow@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Saddleback Village at Stonegate in Maricopa, Arizona, Breaks Ground on 215 New Affordable Housing Units
Western Alliance Bank Affordable Housing Investments Group Provides $54.8M in Construction Financing PHOENIX, May 13, 2025--(BUSINESS WIRE)--Western Alliance Bank today announced the groundbreaking of Saddleback Village at Stonegate, an affordable housing development in Maricopa, Arizona, located south of Phoenix. Western Alliance Bank provided construction financing for the development. Saddleback Village is being developed by Dominium, a leading national developer, owner and manager of affordable housing. Western Alliance Bank, as construction lender, provided a $54.8 million tax-exempt construction loan, while Walker & Dunlop has arranged $45.7 million in permanent debt and $41.5 million in Low-Income Housing Tax Credit (LIHTC) equity for the project. Through this collaboration, Western Alliance Bank continues to play a leading role in shaping the future of affordable housing in Arizona, ensuring that families across the state have access to quality, affordable living options. "As Arizona's largest locally headquartered bank and the largest bank in Maricopa County, Western Alliance Bank is proud to continue expanding our role as a leading source of financing for affordable housing projects in the Phoenix area," said Philipp Smaczny, managing director of Affordable Housing Investments for Western Alliance Bank. "We look forward to bringing additional, much-needed affordable housing to Maricopa, in partnership with Walker & Dunlop and Dominium." Once completed, the Saddleback Village community will consist of 215 two-, three- and four-bedroom family rental homes in 123 one- and two-story buildings. "Affordable housing is a critical need across Arizona, and Saddleback Village is a strong example of how thoughtful, well-structured financing can help meet that demand," said John Ducey, Chief Production Officer of Affordable Debt & Equity Investments at Walker & Dunlop. "We're proud to partner with Dominium on this important development and thank Western Alliance Bank for its role as construction lender and LIHTC investor and Freddie Mac for its role as permanent debt provider. Together, we're supporting a long-term solution that brings quality homes to families in Maricopa." Under the LIHTC program, 100% of the 215 units will be rent- and income-restricted for households earning at or below 60% of Pinal County's Area Median Income (AMI). This makes it possible to offer the rare opportunity for single-family home-style living at affordable rents, providing families with an alternative to apartment-style living. About Western Alliance Bank With more than $80 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, offers a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by banking and mortgage experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (formerly Institutional Investor's) All-America Executive Team Midcap 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. View source version on Contacts Media contact: Jinine Martin, jmartin@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Western Alliance Bank-Funded Danny's Home for Heroes Celebrates Grand Opening
Affordable Housing Investments Group Finances 35 New Apartment Units for Veterans PHOENIX, May 08, 2025--(BUSINESS WIRE)--Western Alliance Bank today announced the grand opening of Danny's Home for Heroes in Quartz Hill, California, with construction-to-permanent financing provided by the Western Alliance Affordable Housing Investments Group in partnership with R4 Capital Funding. Western Alliance invested $20.9 million in tax-exempt and taxable construction-to-permanent bonds to finance the new construction of the three-story residential building, located at 4856 West Avenue L-14 in Quartz Hill. Danny's Home for Heroes includes 35 furnished one-bedroom units for homeless and formerly homeless veterans and their families. The 735-square-foot units are restricted to residents earning 30%-50% of the Area Median Income (AMI). "Western Alliance Bank has a significant presence in Los Angeles County, and we are a leading source of financing for affordable housing projects in Southern California," said Philipp Smaczny, managing director of Affordable Housing Investments for Western Alliance Bank. "We are proud to assist Danny's Home for Heroes in offering a safe and welcoming environment that supports veterans to maintain stable housing and build their futures." In addition, more than $15.5 million of equity was raised from investments in 4% Federal and State Low-Income Housing Tax Credits and solar investment tax credits provided by R4 Capital. The 35 units at the property will be covered under a new 20-year HUD-Veterans Affairs Supportive Housing (HUD-VASH) Project-Based Assistance Payment Contract. Through this project-based voucher partnership program, the Los Angeles Community Development Authority (LACDA) partners with the Department of Veteran Affairs (VA) to provide rental assistance to units leased to eligible veterans. The property also includes one non-revenue-producing manager's unit, as well as supportive services to help veterans transition into civilian life with dignity and support. In addition to transitional housing, the property offers counseling services and job training programs to address the unique needs of veterans. About R4 Capital R4 Capital is a nationwide affordable housing investor, lender, loan servicer, and asset manager. Founded in 2011, the firm manages more than $10.9 billion of affordable housing equity and debt investments, including $6.7 billion of LIHTC equity and more than $4.2 billion of tax-exempt debt through R4 Capital Funding. R4 Capital's growing investment portfolio spans 49 U.S. states and territories, and consists of more than 70,000 units of affordable housing. R4 Capital has offices in New York, NY, Boston, MA, Newport Beach, CA, and Austin, TX. Learn more at About Western Alliance Bank With more than $80 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, offers a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by banking and mortgage experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (formerly Institutional Investor's) All-America Executive Team Midcap 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank. View source version on Contacts Media contact: Stephanie Whitlow, swhitlow@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
