PenFed Selects PointPredictive’s Auto Lending Fraud Solution Suite
Summary
SAN DIEGO & TYSONS, Va.--(BUSINESS WIRE)--PointPredictive Inc., the San Diego-based company that builds Artificial & Natural Intelligence [Ai+Ni] models using machine learning, announced that PenFed Credit Union, the nation’s second largest federal credit union, will use PointPredictive’s full suite of auto lending fraud prevention solutions. As part of the agreement, PointPredictive will provide PenFed access to their full suite of risk solutions, including Auto Fraud Manager with Auto Fraud Alert reporting, which will provide PenFed with sophisticated machine learning scoring for each application, unique machine learning individual dealer scoring and further assessment against 100 actionable alert conditions that assist in the identification of risk of fraud or early default loss. “PointPredictive serves as a great complement to our current internal protections,” said Sumeet Bhalla, SVP and Chief Credit Officer at PenFed. “By enabling PenFed to leverage our consortium data assets, our unique Artificial and Natural Intelligence scoring technology for the applications and dealers, and our fraud analyst team, we are giving them the most comprehensive risk coverage available in the market. PointPredictive helps automotive, mortgage, retail and personal loan finance companies identify the consumer applications with truthful and reliable information without the intense interrogation and verification of data caused by lower tech solutions currently in use.