The solution promotes automation and reduces conditions, manual reviews and omissions
San Diego, August 2, 2022 /PRNewswire/ — Point predictive, the San Diego-based company that provides artificial intelligence solutions to lenders, today launched its latest product, AutoPass™, which allows auto lenders to decide on or reject a loan application based only on the possibility of fraud or physical misrepresentation. which can be the default. AutoPass customers can expect to automate 30% to 70% of application decisions, while reducing defaults due to fraud by 40% to 60%. Streamlining low-risk applications provides faster financing, lower origination costs and a better experience for both borrowers and dealers.
“Having the ability to make automatic decisions on both low-risk and high-risk auto loan applications helps our customers reduce the cost of loan origination as well as reduce losses due to fraud, thereby directly reducing the cost of loan origination. Profits increase.” Tim Grace, Co-Founder and CEO of Point Predictive. “AutoPass is a major step forward in increasing automation, improving loan pull-through and cost-effectively eliminating fraud and misrepresentation. It leverages technology and AI to enable auto lenders to make better, streamlined decisions and reduce costs. Enables you to avail of loans.”
AutoPass leverages the depth and breadth of the Point Predictive Data Consortium and is built with the aim of risk management and loan application decision automation. The data consortium is built using information from over 120 million auto lending applications and provides unparalleled insight into the hidden risk of fraud and default. Contains data from over 12 billion risk attributes and applications associated with $4.5 billion Confirmed initial payment in default. This data enables the evaluation of historical fraud risk patterns more deeply and comprehensively than any competing solution from a credit bureau or public records source.
AutoPass accurately identifies applicants with streamlined processing, favorable pricing, and low-risk applicants for other credit terms or credit-based incentives (such as a reduction in down payment requirements). It can also be used in conjunction with a credit score to refine credit strategies.
Point Predictive invites any lenders who wish to trace AutoPass to contact [email protected],
About Point Predictive Inc.
Point Predictive enables lenders to lend more with a unique combination of artificial and natural intelligence [Ai+Ni] To Power Machine Learning Technology Solutions. Point Predictive helps automotive, mortgage, retail and personal loan finance companies identify consumer applications with truthful and reliable information without the intense inquiry and verification of data due to low-tech solutions currently in use. Regarded as one of the most trusted fraud and misrepresentation analytical solutions providers, Point Predictive has transformed that trust to enable lenders to offer more loans to more consumers. Using powerfully orchestrated big data from millions of examples of true and false loan applications, billions of derived proprietary data elements, and scientifically selected third party data sources to build powerful machine learning models with the additional natural intelligence of point predictive human experience does. Located in San Diego, CaliforniaMore information about Point Predictive can be found here www.pointpredictive.com,
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