Napleton Automotive Group, Carriage Auto Group, Cavender Auto Family and Butler Lexus of South Atlanta Advance Auto Lending Fraud Defense with AI Solution BorrowerCheck™
SAN DIEGO, CA – January 31, 2024 – Point Predictive, the leader in artificial intelligence (“AI”) consumer lending solutions, proudly announces the expansion of its footprint within the auto dealership sector through strategic partnerships with numerous leading dealership groups, including Napleton Automotive Group, Carriage Auto Group, Cavender Auto Family and Butler Lexus of South Atlanta. This move marks a significant milestone for Point Predictive, as it solidifies its commitment to revolutionizing the landscape of auto lending fraud prevention.
At the forefront of this expansion is BorrowerCheck, an innovative solution that harnesses the power of AI to fortify fraud defenses in auto lending. It empowers auto dealerships and lenders to identify borrowers with income, employment, and identity-related risks that could lead to loan buy-back demands or hinder future loan applications. Dealerships across the nation have proactively embraced BorrowerCheck, deploying it as an integral component of their risk management strategies to enhance the security and efficiency of their lending processes.
Tim Grace, CEO of Point Predictive, said, “In harnessing the power of BorrowerCheck, we’ve witnessed an incredible surge in partnerships with dealers and dealer groups. The momentum we’ve achieved in signing these deals is a testament to our commitment to providing unparalleled AI solutions. As we carry this remarkable momentum into 2024, we remain steadfast in our dedication to empowering dealerships, fostering secure lending environments, and shaping the landscape of collaborative success in the industry.”
Point Predictive’s accomplishments in securing partnerships with a multitude of dealerships have generated excitement within the automotive community. Dealerships are actively utilizing BorrowerCheck, recognizing its potential to revolutionize the way they manage and mitigate fraud risks in auto lending.
Representatives from the partnering dealerships acknowledge the substantial operational improvements facilitated by BorrowerCheck:
- “With Point Predictive’s unrivaled data accuracy, we now have a powerful ally in our fight against fraudulent misrepresentation at the point of sale. Integrated directly into RouteOne, BorrowerCheck’s time efficiency in sales and finance, coupled with the assurance it brings to our dealer-lender relationship, has been revolutionary.”
— Preston Stewart, National Variable Operations Director at Napleton Automotive Group
- “BorrowerCheck has been transformative for Carriage Auto Group. We run a BorrowerCheck report for every client, even those with high beacon scores because they’re often victims of identity theft. When even some of the most stringent traditional checks have failed to identify fraudulent applicants, BorrowerCheck has succeeded. The cost is a fraction against other less effective solutions – and most of all, against the potential losses you could suffer without it. Every dealer should have BorrowerCheck.”
— David Basha, Owner and Founder of Carriage Auto Group
- “I see BorrowCheck as a game-changer in our group, as it gives us great visibility into the true risk of a borrower early on in the process. The tool allows us to very easily and quickly know if a borrower will cause us a compliance headache right from the get-go in the car buying experience, speeding up the verification process for our real buyers.”
— Ben Stillwagon, Director of IT at Cavender Auto Family
- “I finally have peace of mind on out-of-state and digital deals with the Point Predictive BorrowerCheck solution that provides confidence within our due diligence process.”
— Kevin Deutsch, General Manager at Butler Lexus of South Atlanta
For more information on Point Predictive’s work with auto dealerships and lenders, please contact Jeff Hendren at jhendren@pointpredictive.com
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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 https://staging.pointpredictive.com/
