PointPredictive joins with defi SOLUTIONS to find auto lending fraud.
Automotive lending fraud is an industry-wide problem. While most application fraud scores target identity fraud alone, Point Predictive leverages data from our auto lender consortium members to identify and predict all fraud types in a single, integrated fraud score.
The Auto Fraud Manager(AFM) Score is built with artificial intelligence and machine learning designed to identify those applications most likely to result in default. The higher the Auto Fraud Manager score, the higher risk of fraud and early payment default (EPD). In addition to a fraud score, AFM provides reason codes to help fraud analysts streamline their investigative strategies.
CHECK OUR FRANK MCKENNA’S PRESENTATION AT defi SUMMIT 2018
Auto lending misrepresentation and fraud is not always discovered and is often hidden in first and early payment defaulted loans. Up to $6 billion in originations may contain misrepresentations that cause the loan to not perform as expected.
In this session, Frank McKenna, chief fraud strategist at PointPredictive, will share with you insights from the auto lending fraud consortium on the hidden patterns of fraud and describe advancements in using AI and machine learning to address this growing problem of fraud and misrepresentation.