Fig chooses Flagright for fraud and risk protection

August 20, 2025

Fig, a Canadian personal loan provider, has teamed up with Flagright, an AI-native, no-code compliance platform, to strengthen its financial crime risk management as it scales its lending services.

The partnership will enable Fig to enhance its fraud detection and anti-money laundering (AML) processes by leveraging Flagright’s real-time monitoring and compliance solutions. As Fig expands across Canada, the collaboration aims to ensure every loan disbursement and repayment is secured against financial crime risks.

Flagright, which specialises in transaction monitoring, AML screening, customer-risk scoring, AI forensics and case management, provides banks and FinTechs with agile and configurable compliance tools. Fig, on the other hand, offers borrowers a streamlined way to consolidate high-interest debt into fixed-rate personal loans, allowing customers to check rates instantly, apply online, and access funding within a business day without hidden fees or repayment penalties.

Through the partnership, Fig will deploy Flagright’s suite of capabilities, including real-time AML screening against sanctions, politically exposed persons (PEP), and adverse media lists. The technology also reconstructs complex transaction trails through AI forensics and integrates case management tools, giving Fig’s compliance teams an auditable workspace for investigations and regulatory reporting.

Ardalan Shojaei, Fig chief credit & risk officer, 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.”

Madhu Nadig, Flagright co-founder and CTO, 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.”