PointPredictive Stops Fraud for Auto Lenders with its Outsourced Fraud Mitigation Service
Summary
“Fraud moves quickly and lenders can lose millions of dollars each month,” says Frank McKenna, Chief Fraud Strategist at PointPredictive. With this new service, we eliminate all of that work for lenders by providing access to our platform and experts, allowing them to stop fraud immediately with no up-front investment.” As part of the subscription service, lenders establish a secure link to PointPredictive’s scoring platform which scans each application with the full suite of PointPredictive machine learning solutions for risk: Auto Fraud Alert™, IncomePASS™, Synthetic ID Alert™ and DealerTrace™. When that is discovered and validated, the lender is notified with a comprehensive narrative and alert report directly from the fraud analyst outlining their findings. Each analyst goes through a rigorous training program to learn how to detect the subtle patterns of fraud leveraging proprietary techniques and data analysis methods. PointPredictive Inc. is a leading provider of machine leaning AI solutions to banks, lenders and finance companies.