SaaS lending risk solution unifies AI fraud scores, alerts, review queue automation, rule writing, and full range of key operational metrics and actions specifically built for automotive lenders.
LAS VEGAS-(BUSINESSWIRE) – October 27, 2021 – Point Predictive, the San Diego-based company that provides machine learning solutions, launched its Case Manager & Rules Engine product today, which aims to deliver an unparalleled level of visibility and control to auto lenders tackling automation and digital transformation challenges in fraud and risk management operations.
The browser-based SaaS solution provides lending teams with an intelligent layer of risk controls, automation logic, action guidance, and key metrics across their originations process. Case Manager sports an elegant user experience and is the first SaaS fraud and risk management solution that has been specifically built for automotive lenders that tightly integrates Point Predictive’s full complement of fraud risk scores, alerts, and consortium data with existing loan origination systems (LOS) to streamline operational risk workflows for analysts and underwriters. Traditional solutions offered to the auto industry are generic workflow solutions that require expensive customization to meet the specific needs of the auto industry; Point Predictive’s Case Manager and Rules Engine are designed from the ground up as “auto first” offerings.
Case Manager provides many features to help lenders reduce unnecessary friction for borrowers while protecting organizations against a growing influx of fraud and misrepresentation scams and schemes.
- API integration with real-time data synchronization. Case Manager serves as an independent, fully-synchronized user interface layer that works seamlessly alongside a lender’s current loan origination environment. Lending teams can review and action individual loan applications through Case Manager while keeping the loan pipeline intact and flowing as expected.
- Live analytics and an operational dashboard. Since all loan data is synchronized between Case Manager and the loan origination system of record, it gives lending teams a detailed array of current operational metrics, including loan application volume, approve/review rates, caseload statistics to optimize staffing, and fraud risk exposures.
- Configurable queues. Case Manager allows lenders to setup virtual queues to better allocate team resources and accelerate loan application throughput. This flexible approach to queue management ensures that lenders resource their operations in a highly-custom way toward the goal of moving trustworthy loan applications quickly through underwriting in the most automated way possible. These queues also allow lenders to focus manual review resources on only those loan applications that are risky enough to warrant specific actions under the lender’s rules and configuration.
- Rules management and policy controls. Every lending organization defines the rules and controls necessary to manage risk while growing revenue and profitability. Case Manager gives administrators the ability to define stipulations and other LOS actions with easy-to-use, click-based logic that can be tested before being implemented. This enables changes to be made to risk management policies quickly without waiting for scarce IT resource windows to open up. These rules also power automation logic.
- Automation logic. Most rules, policies, and procedures for fraud and risk management can be executed without human intervention using Case Manager’s automation logic combined with the Rules Engine using the latest data in the lender’s environment. Automation logic, in combination with rules and real-time data integration, ensures that lenders are moving as fast as possible without incurring additional risk.
- Filters allow lenders to view and manage subsets of their loan volumes. With many US auto lenders processing thousands of loan applications each day, narrowing the focus of loan agents can be difficult. Filters allow agents to easily find and manage only the necessary subset of loans.
- Case Creation is easy for underwriters, call center representatives, and supervisors because all current loan application data is synchronized with Case Manager. Case narratives can be entered about any risk concern in seconds, aiding a risk analyst review within the correct queue.
- Fraud Reporting. Case Manager enables lenders to report and track all suspicious applications sent to fraud teams for investigation and tracks how cases generated by system rules are dispositioned.
US auto lenders are expected to be exposed to more than $7.7 billion in potential fraud losses in 2022. Fraud scammers and the schemes they employ to steal cars from lenders and dealers grow pervasively year after year. Lenders accept this level of risk because it can be difficult to trust information presented on loan applications from consumers, correspondents, and dealers. Underwriters routinely grapple with synthetic identities, income and employment misrepresentation, document forgeries, straw borrowing schemes, and collateral fraud.
At the same time, these lending operations face market expectations of continued growth and profitability, which cannot be achieved without technology tools that aggressively manage these fraud risks while capturing a trustworthy borrower’s business before they are served by a competitor. Case Manager gives lenders a powerful tool that fits their business model and helps to achieve desired financial outcomes for each lender’s portfolio and originations resources.
Tim Grace, Co-Founder and CEO of Point Predictive, hailed the launch of the Case Manager & Rules Engine as the dawn of a new era of control and flexibility for auto lenders. “Point Predictive introduced the auto lending industry to the Consortium approach, which gave lenders a cross-industry perspective on the trustworthiness of the information they receive on credit applications,” he said. “With Case Manager, any auto finance organization is now in a position to streamline its entire fraud and risk underwriting process in a way that is best suited for its own strategy and operational realities. Every lender that has previewed Case Manager knows that it is one of the easiest ways to further reduce fraud loss exposure while growing top line revenue, all in a manner that avoids any disruption to the technology infrastructure in place.”
Point Predictive invites any lenders who wish to explore Case Manager and other benefits of Consortium membership to contact info@pointpredictive.com.
About Point Predictive Inc.
Point Predictive enables lenders to fund more loans simply with a unique combination of Artificial and Natural Intelligence [Ai+Ni] to power machine learning technology solutions. Point Predictive helps automotive, mortgage, retail and personal loan finance companies to identify the consumer applications with truthful and reliable information without the intense interrogation and verification of data caused by lower tech solutions currently in use. Highly regarded as the most trusted fraud and misrepresentation analytic solution providers, Point Predictive has transformed that trust to enable lenders to fund more loans to more consumers simply. Point Predictive uses big data powerfully orchestrated from millions of examples of true and falsified loan applications, billions of derived proprietary data elements, and scientifically selected 3rd party data sources to build powerful machine learning models with the added natural intelligence of human experience. Located in San Diego, California, more information about Point Predictive can be found at www.pointpredictive.com.
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