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 Manager, a fraud scoring service that can detect fraudulent applications based on red flags within the application, the dealer as well as red flags and fraud indicators from a fraud consortium run by PointPredictive.
This week, I am proud to announce that we launched a realtime enabled hosted scoring service at PPI. With this scoring service we greatly simplify the integration of the scoring service for lenders that want to test or integrate the scores into their loan origination platform. The scoring service automates the pulling of application data into the model, scores the transaction sub-second and returns the result to the clients. Within less than a second, PPI can evaluate hundreds of risk elements on an application and provide a fraud score which indicates the level of risk of an auto lender or any application that they submit.
If you would like more information, please contact Frank McKenna at [email protected]