SAN DIEGO, Calif., Aug. 22, 2018 – PointPredictive, a leading provider of machine learning fraud and misrepresentation solutions, today announced that its Auto Fraud Manager 2.0 and DealerTrace 2.0 solutions are immediately available for production use by all defi SOLUTIONS customers.
“PointPredictive is one of our newest and most innovative AI technology partners. We’re excited to offer our lenders seamless access to these forward-thinking fraud and misrepresentation solutions through the defi LOS platform,” said Stephanie Alsbrooks, CEO of defi SOLUTIONS. “This is yet another great example of the power of community.”
PointPredictive offers a market-leading suite of artificial intelligence (AI) predictive scoring solutions that identify the presence of material misrepresentation and fraud within automotive loan applications and automotive dealer processes. This predictive technology has been shown to streamline real-time auto lending decisions while reducing auto lender losses by 50 percent or more in fraud and first and early payment defaults due to material misrepresentation.
The defi SOLUTIONS platform of services offers lenders the flexibility and freedom to leverage leading-edge technologies to optimize decisioning efforts. defi SOLUTIONS’ auto lending customers have been invited to participate in a limited-time, no-risk, production pilot of these two PointPredictive solutions.
“This initial offering through our partnership with defi SOLUTIONS allows us to deliver a real-time, actionable fraud and misrepresentation score for each auto loan application from nearly 100 auto lenders processing through defi SOLUTIONS - the fastest growing auto origination platform in the US,” stated Tim Grace, CEO of PointPredictive. “Our research indicates that fraud and misrepresentation in the auto lending industry is a $6 billion annual problem – we are excited to be able to help all defi SOLUTIONS customers make a substantial dent in their portion of that number.”
defi SOLUTIONS customers will have real-time access to Auto Fraud Manager 2.0 and DealerTrace 2.0, that increase fraud detection by leveraging enhanced predictive algorithms that evaluate the entire loan application, as well as recent activity from dealers. This enables lenders to screen for, and detect, all types of fraud including identity, employment, income, collateral and dealer risk. In numerous customer evaluations, Auto Fraud Manager consistently identified more than 50 percent of fraud, first payment defaults and misrepresentation-related early payment defaults within the riskiest 7 to 10 percent of all applications, when rank-ordered by the Auto Fraud Manager score.
About defi SOLUTIONS
defi SOLUTIONS provides the only leading edge, browser-based loan origination system (LOS) that is completely configurable by lenders. The defi system allows auto lenders to manage the application lifecycle from a single, highly flexible platform. The defi LOS is affordable, scalable and easily changed with market demands. For more information, go to www.defiSOLUTIONS.com, defiANALTYICS.com, defiSERVICING.com or defiEXCHANGE.com.
About PointPredictive Inc.
PointPredictive Inc. is a leading provider of fraud and misrepresentation solutions to banks, lenders and finance companies. It solves the billion-dollar fraud problems of auto lending, mortgage lending and on-line retail fraud with the latest technology platforms, smarter science and business experience by leveraging big data with analytic models. Located in San Diego, Calif., more information about PointPredictive can be found at www.pointpredictive.com.