Full spectrum auto lender completes Auto Fraud Manager™ implementation that proves the power of sophisticated AI fraud scores and operational fraud alerts
SAN DIEGO, CA (BUSINESSWIRE) – October 4, 2021 – Point Predictive Inc., the San Diego-based company that provides machine learning solutions to lenders, announced today that Lobel Financial has successfully completed its Auto Fraud Manager™ implementation after proving that the availability of its unique, real-time Consortium fraud alerts and sophisticated fraud scores substantially enhances its own predictive models, helps determine more appropriate stipulations or waivers, and improves the speed and quality of funding decisions. With Auto Fraud Manager in production, Lobel will use Point Predictive’s fraud alerts and scores in real-time within the lender’s native loan origination environment across its entire loan application volume.
In feedback delivered to Point Predictive, the risk management department at Lobel Financial described the benefits of enhancing its in-house models through its Consortium approach. Auto Fraud Manager “makes our operation better at reducing loss while eliminating unnecessary friction for trustworthy borrowers.” Also, the unique scores and alerts “give us data that we’d never see in our own silo.”
The Anaheim-based full-spectrum auto lender’s enthusiasm stems from key features of the Consortium-based solution that address elevated risks of fraud. Such predictive features include geographic proximity to prior fraud, repetition or manipulation of Social Security numbers, income misrepresentation, synthetic identity fraud, and suspicious claims of employment or sources of income.
Lobel Financial’s experience provides yet another proof point that Point Predictive’s cross-industry fraud Consortium, combined with its patented Artificial + Natural Intelligence™, delivers a real-time, automated lending experience that is both borrower- and dealer-friendly.
Tim Grace, Co-Founder and CEO of Point Predictive, described how his company’s advanced data science can modernize lending operations. “Auto Fraud Manager is a solution powered by unique automotive finance data that reduces or eliminates a wide range of fraud and misrepresentation risks.” He continued, “By intelligently automating aspects of the lending decision, lenders can confidently grow their portfolios and deliver a modern borrower experience that gets more trustworthy people into the cars they need.” He concluded by thanking Lobel for its partnership. “Collaboration and innovative data science are principles that we share with Lobel and we’re thrilled to work with their team.”
For auto lenders that are interested in more information on Auto Fraud Manager or Synthetic ID Alert, please contact firstname.lastname@example.org.
About Point Predictive Inc.
Point Predictive powers a new level of lending confidence and speed through the unique combination of artificial and natural intelligence using decades of risk management expertise. The company’s technology solutions quickly and accurately identify who is reporting truthfully on their loan applications and who is not. As a result, lenders are now able to fund loans easily without asking the vast majority of applicants for onerous documentation such as paycheck stubs, utility bills or bank statements. This improves funding rates by 40-50% while reducing overall early payment default losses by more than 30%. Borrowers get loans faster and we significantly boost profits to a lender’s bottom line. Located in San Diego, California, more information about Point Predictive can be found at www.pointpredictive.com.
About Lobel Financial
Lobel Financial is a full spectrum lender providing auto financing for all tiers of borrowers. Lobel specializes in purchasing and servicing automobile contracts from franchised and independent automobile dealers, who have prime to non-prime consumers purchasing new and used automobiles. Based in Anaheim, California, more information about Lobel Financial can be found at www.lobelfinancial.com.
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