Point Predictive’s Fraud Analysts Identifying $2 Million In Fraud Weekly
Summary
“Our fraud analysts are identifying more income misrepresentation, more employer fabrication, and even more borrowers with characteristics of credit washing. This is the type of risky fraud behavior that we typically see in recessions – we see both borrowers and dealers getting more ‘creative’ to close deals. We’re able to look at the bigger picture across the industry, rather than just a lender’s individual experience.” The OFM Team, which was launched late last year, accesses a variety of third-party and public records data sources as well as PointPredictive’s proprietary consortium data in order to assess the likelihood of fraud on each loan application. 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. Point Predictive helps automotive, mortgage, retail and personal loan finance companies to 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.