6 Ways To Use the FCRA-Compliant AutoPass Score To Increase Your Auto Loan Automation
Lisa Verdon, Senior Fraud Consultant Point Predictive provides insight into auto lending fraud risk through the combination of our proprietary data repository and artificial intelligence (AI)-powered models. These insights are delivered through a real-time solution called Auto Fraud Manager (AFM). Key definitions in the Fair Credit Reporting Act (FCRA) limit the use of the AFM […]
Helping Lenders Fund More Loans and Improve the Borrower Experience
Our mission is to help lenders fund more loans and streamline the lending process for borrowers. For too long, lenders have required applicants to jump through hoops because a small percentage of applicants fabricate or misrepresent data about themselves on loan or credit card applications. Fortunately, the combination of consumer risk data availability, artificial intelligence […]
Customer Experience: Why It’s Important to Indirect Auto Lenders Too
You’re hearing the term “customer experience” everywhere. The concept started in technology with Apple leading the way in how we experience music, phones, and computers and quickly made its way into retail with Amazon changing how we experience our daily shopping. Nowadays we even have user experience and customer experience designers whose role is to […]
Would I Lie to You? How Loan Fraud Data Can Help Reveal Job Application Fraud
Honesty is the best policy. While almost all would agree with this in principle, in practice quite a few people leave this tenet behind when it comes to job applications. According to some estimates, more than 30% of job applicants engage in some form of fraud in the job application process through intentional falsification of […]
Online Auto Loan Application Channels Are Prone To High Rates of Synthetic Identity By Fraud Rings
By Justin Hochmuth, Senior Fraud Analyst and Margo Hoyt, Senior Fraud Analyst The pandemic, combined with expanding, accessible technology, has changed how consumers purchase cars. A Progressive Insurance study showed that individuals who reportedly bought a vehicle online had much higher satisfaction levels versus individuals who purchased in person at a dealership. However, while online […]
Cracking Down on Auto Dealer Fraud and Misrepresentation
By Jay Anderson, Senior Strategy Consultant The relationship between auto dealers and lenders is symbiotic. When lenders suspect that one or more dealership employees may be misrepresenting borrower data in an attempt to sell more cars, they need to understand the potential impact and decide if and how they want to address it with dealership […]
Proprietary Data Repository from Point Predictive Can Transform Lender’s Relationships with Their Dealers
By Daniel Wolford, Fraud Consultant Building and fostering positive relationships between lenders and the dealerships initiating auto loan applications is one of the most important things a lender can do to ensure long-term success. And it doesn’t just benefit lenders; dealerships too can benefit significantly from positive relationships with lenders. Strong relationships usually result in […]
Synthetic Fraudsters Not Only Use Fake Identities But Fake Employers as Well
By Justin Hochmuth, Senior Fraud Analyst at Point Predictive In January 2022, we announced that over 5,000 employers, totaling $1 billion in fraudulent application value, were discovered within our proprietary auto lending fraud data repository. These fake employers were tied to fake websites and forged paystubs and were often used to lure lenders into calling […]
Five Benefits of Using Case Manager to Optimize Your Risk Strategies and Operations
Auto lender fraud operations teams need control and visibility to effectively and efficiently investigate and mitigate fraud risk. The right case management software helps auto lenders reduce unnecessary friction for borrowers while protecting themselves against a constantly growing and evolving set of fraud and misrepresentation schemes. Built specifically for automobile lenders, Point Predictive Case Manager […]
6 Recent Auto Lending Fraud Trends Identified in Our Proprietary Data Repository
Our data scientists and fraud consultants are always looking for hidden patterns of fraud. We regularly analyze the millions of loan applications in our Auto Lending proprietary data repository and evaluate loan performance data to identify unique trends to help our clients better understand and thwart even the newest fraud schemes. Here are some of […]
