Automotive Fraud

Auto Fraud Manager leverages data from our auto lender consortium members to identify and predict all fraud types in a single, integrated fraud score.
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Auto Fraud Manager
Automotive lending fraud is an industry-wide problem. While most application fraud scores target identity fraud alone, Auto Fraud Manager leverages data from our auto lender consortium members to identify and predict all fraud types in a single, integrated fraud score.
What It Does

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 industries 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.

 

The Many Types of Auto Fraud

fraud types chart

 

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Auto Fraud Alert
New auto loan application data is compared to millions of attributes from historic application and loan performance data assets to identify fraud risk. Lenders receive alerts when new application data is associated with historic fraud or defaulted loans, or is different from recent applications by the same applicant sent to other lenders.
What It Does

Auto Fraud Alert provides auto lenders a machine-learning based fraud score and more than 100 alerts based on comparing and validating the information a lender receives on an application against data attributes derived from the Point Predictive auto lender consortium.

The predictive fraud score is influenced by the fraud alerts and enables lenders to rank order the riskiest applications to work first, streamline those with the lowest risk scores, and use the alert details in the fraud review process.

 

How It Helps

  • Over 100+ fraud alerts delivered instantly to prevent synthetic identity, income, straw borrower, dealer and collateral fraud.
  • Application matching to identify discrepencies and deviations from prior  submissions in the consortium.
  • Negative file checking against prior lender fraud reports in the consortium.

 

Auto Fraud Alerts