Metro Jobbers, Inc. Partners with Point Predictive to Stamp Out Auto Loan Fraud in the Detroit Metro Area
SAN DIEGO, CA – October 4, 2023 – Point Predictive, the leader in AI-powered fraud solutions for the auto lending industry, has joined forces with Metro Jobber’s, Inc., a distinguished wholesale automotive distributor, to tackle the growing issue of auto loan fraud in the Detroit Metropolitan area. This strategic partnership is set to transform the landscape of automotive sales by giving turnkey access to Point Predictive’s BorrowerCheck™ solution to dealerships across the Detroit area.
In Detroit’s dynamic and high-stakes world of automotive sales, the need to combat fraud is paramount. Recent statistics from Point Predictive reveal the gravity of the situation:
- Since January 2020, Point Predictive has thwarted over $176 million in attempted fraud in the Detroit Metro Area.
- Notably, this includes the identification of 224 fake employers and the prevention of more than 1,300 fraudulent loan applications, representing an astonishing $33 million in attempted fraudulent loans.
- Beyond loan applications, Point Predictive has also identified over 5,800 fake identities used in more than $143 million worth of fraudulent activities in the Detroit Metro Area.
To address these alarming trends head-on, Metro Jobbers, Inc. has partnered with Point Predictive, bringing their proven solution to aid its 130 car dealers serving approximately 350 stores in the Detroit Metro Area. Point Predictive’s BorrowerCheck solution offers instant detection of identity theft, income fraud and use of fake employment which have skyrocketed in the last year at dealerships across the country. This innovative solution enables dealerships to compare the information that the borrower provides on their loan application to Point Predictive’s proprietary data and third-party sources. Leveraging the very same data that auto lenders in the US have used to score over 150 million auto loan applications from more than 100,000 dealerships, BorrowerCheck demonstrates its capability by accurately identifying over 90% of the fraud that eludes current fraud protection measures.
“We are thrilled to join forces with Metro Jobbers, an incredible wholesale distributor with a long-standing commitment to its dealer family,” said Tim Grace, CEO of Point Predictive. “Together, we’re ready to help these dealerships across Detroit create a united front against auto lending fraud. It’s an honor to become part of their family, safeguarding their financial stability and reputation.”
Julie Knaffla, General Manager of Metro Jobbers, Inc., adds, “Our commitment to our dealers goes beyond just providing supplies, equipment, and parts; it’s about ensuring they have the most advanced technology to succeed. We’re excited to introduce Detroit to Point Predictive and partner with them to proactively secure the future of Detroit Metro Area dealerships. We’re dedicated to ensuring they can continue to thrive in an environment increasingly threatened by fraud.”
For information on the Metro Jobbers and Point Predictive partnership, please contact Steve Riddle:
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About Point Predictive
Headquartered in San Diego, California, Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as paycheck stubs, utility bills, or bank statements, improving funding rates by 40-50% while reducing early payment default losses by more than 30-50%. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line. For more information, please visit www.pointpredictive.com.
About Metro Jobbers, Inc.
Metro Jobbers, Inc. is a wholesale distributor owned by 130 new car dealers serving about 350 store doors. Established half a century ago by a select group of Chevrolet dealers with the strategic objective of harnessing collective purchasing power for optimal transactional outcomes, Metro Jobbers has since expanded its clientele to encompass a diverse range of automotive manufacturers, incorporating both domestic and imported models. For more information, please visit https://metrojobbers.com/.
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