San Diego Business Journal – Company Uses AI To Stay Ahead of Loan Fraud
San Diego Business Journal Article — Outstanding auto loans in the United States last year topped a record $1 trillion. San Diego startup PointPredictive Inc. aims to help auto lenders keep more of the revenue they expect to earn from those loans by identifying potentially fraudulent applications before automobiles leave dealers’ lots. The predictive analytics […]
PointPredictive Launches Auto Fraud Manager
PointPredictive Inc. announced today the launch of Auto Fraud Manager – a real-time predictive pattern recognition scoring solution providing a bundled suite of predictive scores that can instantly assess the risk of First and Early Payment Default, Fraud Misrepresentation and Dealer Risk on each automotive loan application so lenders can stop fraud before underwriting and […]
Auto Fraud Will Reach $6 Billion in 2017
SAN DIEGO, Feb. 02, 2017 (GLOBE NEWSWIRE) — PointPredictive announced today the publication of a white paper detailing new analysis confirming that auto lending fraud risk has been rising for several years, but remains hidden in credit losses. With 2016 auto lending originations soaring to historically high levels, the downstream impacts are now revealing themselves […]
PointPredictive Releases Mortgage Fraud Score
PointPredictive Inc. announced today the launch of a new mortgage fraud score that provides an enhanced, real-time assessment of misrepresentation risk allowing lenders to reduce the number of applications currently selected for detailed fraud reviews by investigators. This score should be requested in parallel with, and used in combination with, credit scores to ensure that […]
Joel Bock, Highly Accomplished Fraud Data Scientist, Joins PointPredictive
When it comes to fighting fraud with data science, Joel Bock is one of the best. And this week, Joel made the decision to join our team of Ph.D. educated fraud scientist working in our offices here in beautiful San Diego. Most recently Joel spent the last several years tackling difficult fraud problems like […]
PointPredictive Launches Fraud Model Validation Service for Mortgage
SAN DIEGO, CA–(Marketwired – January 06, 2017) – PointPredictive, Inc. today launched its new Independent Model Validation and Risk Review service to help lenders comply with the Office of the Comptroller of the Currency (OCC) SR 11-7 Guidance on Model Risk Management, a guidance requiring banking organizations to evaluate the soundness of their risk models and […]
PointPredictive Finds Fraud in Auto and Mortgage Lending Follow Similar Risk Patterns
PointPredictive, Inc. a leading provider of machine learning fraud solutions, today announced the results of new study that determined high levels of fraud on early payment auto loan defaults. The study found scoring applications for auto loans with models that were built to detect fraud resulted in lenders finding 50% more early default than traditional […]
PPI Real-Time Auto Lending Fraud Scoring Service Launched This Week
Auto Lending Fraud losses continue to creep up in the US as auto lenders struggle to maintain loan quality as volumes increase. Much of that increase has come in the area of subprime and deep subprime which now account for about 20% of all new loans according to Experian Q2 2016 PointPredictive launched Auto Fraud […]
How We Help Auto Lenders Comply with Dealer Monitoring Regulations
I read an interesting article from Christine Pratt at AITE which was very interesting. You can read the article here – Are Indirect Auto Lenders the Real Target of the FDIC’s New Third-Party Guidance? Something which we have known for years and now happening, is more regulation for Indirect Auto Lenders and the dealers that they […]
Anatomy of an Auto Lending Fraud
Auto Lending Fraud cost US finance companies, banks and lenders billions annually. But I often get the question, “How do lenders lose money when they can actually repossess the car if they find fraud later. The answer is, it’s often not that simple and even when the car is repossessed, they can still lose money. […]
