Automation

Point Predictive Solutions Help Automate Underwriting and Originations Processes to Speed Decisioning, Improve the Customer Experience, and Reduce Cost.
AutoPass™
AutoPass lets lenders decline loan applications that have a high risk of fraud. It also identifies and streamlines non-risky loans, so lenders can remove stipulations, eliminate costly manual reviews, and increase loan pull-through.
What It Does

AutoPass uses artificial intelligence (AI) and data from our Auto Lending Consortium to accurately identify low-risk applicants for a streamlined processing, favorable pricing, and other credit terms or credit-based incentives (such as a reduction in down payment requirements). It also identifies applications with a high risk of default due to fraud or misrepresentation.

 

How It Helps

  • Enables automation of up to 70% of application decisioning without stipulations (STIPS) or manual review
  • Improves the customer experience for the vast majority of applicant
  • Lowers operating costs
  • Reduced defaults due to fraud up to 60
  • Can be used in conjunction with credit scores to refine credit strategies

 

Auto Alert Profile

Income Validation
Stated income is notoriously falsified and unreliable. Paycheck stubs are easily forged and labor-intensive to verify. IncomePass™ provides an accurate, automated solution for income validation.
What It Does

IncomePass analyzes stated income against millions of historically reported salaries across all occupations and cities, IRS income data, census data, and many other sources to validate an applicant’s income for reasonableness. It is an automated and reliable way to identify when a borrower’s income is materially overstated

 

How It Helps

  • Reduces losses due to income misrepresentation by detecting 60% – 80% of inflated incomes
  • Eliminates the high cost of income verification for the vast majority of applications
  • Improves your customer’s experience by reducing friction (i.e., requests for pay stubs) for most borrowers
  • Increases pull-through by validating income in real time

 

Income Pass Report

Employment Verification
Some untrustworthy borrowers try to trick lenders into believing that they are employed by fictitious companies. Unfortunately, it’s easy to set up fake websites, internet listings, and an answerable telephone number where a live person will “confirm” bogus employment and income. EmployerCheck™ provides an accurate prediction of employer and source of income legitimacy.
What It Does

EmployerCheck provides a detailed, sub-second response to a lender’s inquiry. The lender only needs to provide an employer name and phone number to generate an EmployerCheck report, which includes at least 11 risk factors that can help determine whether to request additional verification materials from the borrower. EmployerCheck, on average, will find a match to the stated employer about 90% of the time, and the results can be integrated into any commercial loan origination system.

 

How It Helps

  • Increases detection of fraud and misrepresentation of employment on loan applications ¾ traditional solutions only cover large corporations or use small sets of confirmed historical fraud
  • More cost-effective than other solutions, such as The Work Number from Equifa
  • Improves the customer experience for the vast majority of applicants by requesting documentation or further verification from only a small subset or borrowers

 

Synthetic ID Profile