Automobile Lending
Auto Fraud Manager is a predictive scoring solution built with artificial intelligence and machine learning designed to identify those applications most likely to result in default. The higher the Auto Fraud Manager score, the higher risk of fraud and early payment default (EPD). In addition to a fraud score, Auto Fraud Manager provides reason codes to help fraud analysts streamline their investigative strategies. These output indicators are used to prioritize a deeper fraud review.
How It Helps
- The industry’s only consortium-based approach to address 100% of lenders’ risk issues.
- Highly predictive fraud score that helps lenders reduce early payment default losses between 30-50%.
- Enables frictionless lending and automated STIP clearing on up to 30% of approved applications.
Download Auto Fraud Manager Case Study
AutoPass uses artificial intelligence (AI) and data from our proprietary data repository 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 applicants
- Lowers operating costs
- Reduced defaults due to fraud up to 60%
- Can be used in conjunction with credit scores to refine credit strategies
Auto ONE is a suite of one-of-a-kind, automation and fraud risk management solutions designed specifically for automotive lenders. The solutions are delivered through Case Manager for an integrated view of risk due to fraud or misrepresentation.
How It Helps
- Reduces default due to fraud or misrepresentation by up to 50%
- Increases loan pull-through by 30% or more
- Validates income to reduce risk and eliminate stipulations and manual review for most applicants
- Identifies the use of fake employers
- Improves dealer risk detection
Shows lenders how the loans originated by a dealer compare against that dealer’s performance with other lenders providing a unique view into dealer performance including risk metrics, profitability metrics, and insight into adverse selection. It also indicates changes in a dealer’s risk level.
How It Helps
- Make better decisions about which dealers to work with
- Increase business from dealers providing high-quality loan
- Reduce risk from dealers sending lesser quality loan
