Trust Science® Acquires Lenders API to Deliver Scalable Bank-Grade Anti-Fraud Network for Canadian Lenders

Toronto, ON | February 10, 2026

Trust Science today announced the acquisition of Lenders API, a real-time fraud prevention and consortium data platform developed in collaboration with the Canadian Lenders Association (CLA) and its SMB, consumer, and automotive finance members.

The acquisition creates Canada's first industry-wide defense system against coordinated lending fraud, including loan stacking, bust-out fraud, and synthetic identity schemes that cost lenders millions annually.

Built by Lenders, for Lenders

Lenders API was co-founded by Tal Schwartz and Gary Schwartz in response to systemic fraud risks facing Canadian lenders across all channels. Working directly with institutions in non-prime consumer credit, small business lending, and automotive finance, the founders designed a consortium-based solution that enables participating lenders to detect fraudulent borrowing activity in real time—without sharing proprietary customer data.

"No single lender can solve this problem alone," said Tal Schwartz, Co-Founder of Lenders API. "Loan stacking and organized fraud thrive in the gaps between institutions. The only effective response is shared intelligence delivered through a compliant, trusted infrastructure."

The platform addresses three critical fraud types that exploit information silos:

Loan Stacking occurs when fraudsters secure multiple loans from different lenders simultaneously, often on the same collateral, leaving secondary lenders with no viable recovery.

Bust-out Fraud involves coordinated groups obtaining multiple loans across institutions, then defaulting immediately—often disappearing with assets before the first payment is due.

Synthetic Identity Fraud uses fabricated or manipulated identities to open accounts and secure credit across multiple lenders before vanishing.

“Bust-out fraud escalates rapidly,” said Gary Schwartz, Co-Founder of Lenders API. “Detection often comes too late. Our consortium approach allows the first lender to inadvertently protect the fifth by creating a real-time digital footprint as activity unfolds.”

Scaling Consortium Infrastructure

Demand for consortium-based fraud controls has accelerated as lenders face rising fraud losses, more sophisticated criminal networks, and increasing regulatory scrutiny. Lenders API was purpose-built to deliver real-time signals, governance controls, and auditability aligned with Canadian regulatory expectations.

"Lenders API was built by the industry, for the industry. Together, we will deliver a robust, real-time consortium solution that helps lenders protect consumers, reduce losses, and meet regulatory expectations at scale."

FOUNDER AND CEO, TRUST SCIENCE Evan Chrapko

"Trust Science brings the scale, governance, and bank-grade compliance capabilities required to take this solution to the next level,"said Gary Schwartz. "This transaction ensures the industry now has access to a trusted, scalable platform that can be deployed across banks, credit unions, and non-bank lenders, while maintaining strong privacy and regulatory discipline."

Trust Science will integrate Lenders API into its AI-driven risk and decisioning infrastructure, enabling expanded adoption across regulated financial institutions and supporting advanced use cases in fraud prevention, identity risk, and credit decisioning.

"This acquisition aligns squarely with our mission to provide transparent, explainable, and compliant risk infrastructure for financial institutions," said Evan Chrapko, CEO of Trust Science. "Lenders API was built by the industry, for the industry. Together, we will deliver a robust, real-time consortium solution that helps lenders protect consumers, reduce losses, and meet regulatory expectations at scale."

The platform will continue supporting consortium-based collaboration across consumer, SMB, and automotive lending sectors, with enhanced capabilities and broader institutional reach under Trust Science's stewardship.

Financial terms of the acquisition were not disclosed.

About Trust Science

Trust Science is a leading provider of AI-driven risk and decisioning solutions for financial institutions. The company combines alternative data, cashflow analytics, and real-time consortium insights to help lenders make fair, transparent, and compliant decisions across credit, fraud, and identity use cases.

Trust Science is Canada's third and most modern credit bureau- Credit Bureau 2.0^®, operating as a Consumer Reporting Agency across North America. For more information, visit www.TrustScience.com. 

About Lenders API

Lenders API is a real-time consortium data platform designed to detect loan stacking, bust-out fraud, and coordinated fraud activity across the lending ecosystem. Built in partnership with Canadian lenders and the CLA, the platform enables secure, compliant intelligence sharing without exposing sensitive customer data.

Contacts

Media: Marketing@TrustScience.com