LAS VEGAS – (COMMERCIAL THREAD) – Point Predictive, the San Diego-based company that provides machine learning solutions, today launched its Case Manager & Rules Engine product, which aims to provide an unmatched level of visibility and control to auto lenders s ‘tackling the challenges of automation and digital transformation in fraud and risk management operations.
The browser-based SaaS solution provides loan teams with an intelligent layer of risk controls, automation logic, action guidance, and key metrics throughout their creation process. Case Manager delivers a sleek user experience and is the first fraud and risk management SaaS solution specifically designed for auto lenders that tightly integrates Point Predictive’s full set of fraud risk scores, alerts and consortium data with existing loan origination systems (LOS). to streamline operational risk workflows for analysts and underwriters. Traditional solutions offered to the automotive industry are generic workflow solutions that require expensive customization to meet the specific needs of the automotive industry; Point Predictive’s case manager and rules engine are designed from the ground up as “auto-first” offerings.
Case Manager provides many features to help lenders reduce unnecessary friction for borrowers while protecting organizations against a growing influx of scams and fraud and misrepresentation schemes.
- API integration with real-time data synchronization. Case Manager serves as an independent, fully synchronized user interface layer that works seamlessly with a lender’s current loan origination environment. Loan teams can review and process individual loan requests through Case Manager while keeping the loan pipeline intact and smooth as expected.
- Live analysis and operational dashboard. Since all loan data is synchronized between Case Manager and the loan origination record system, this gives loan teams a detailed set of current operational metrics, including loan application volume, rates approval / review, workload statistics to optimize staff and fraud risk exposures.
- Configurable queues. Case Manager allows lenders to configure virtual queues to better allocate team resources and speed up loan processing. This flexible approach to queue management ensures that lenders fund their operations in a highly personalized way with the goal of moving trustworthy loan applications quickly through underwriting in the most automated way possible. These queues also allow lenders to focus manual review resources only on loan applications that are risky enough to warrant specific actions depending on the lender’s rules and configuration.
- Rules management and policy controls. Each lending agency defines the rules and controls necessary to manage risk while increasing income and profitability. Case Manager gives administrators the ability to define stipulations and other LOS actions with easy-to-use, click-based logic that can be tested before being implemented. This allows rapid changes to risk management policies without waiting for windows of limited IT resources to open. These rules also feed into the logic of automation.
- Automation logic. Most fraud and risk management rules, policies and procedures can be executed without human intervention using Case Manager automation logic combined with the rules engine using the latest data from the lender environment. Automation logic, coupled with rules and real-time data integration, ensure lenders act as quickly as possible without incurring additional risk.
- Filters enable lenders to view and manage subsets of their loan volumes. With many American auto lenders processing thousands of loan applications every day, it can be difficult to restrict the attention of loan officers. Filters make it easy for agents to find and manage just the subset of loans they need.
- Case creation is easy for underwriters, call center representatives and supervisors as all open loan application data is synchronized with Case Manager. Case stories can be entered on any risk issue in seconds, making it easy for a risk analyst to review in the appropriate queue.
- Fraud report. Case Manager enables lenders to report and track all suspicious requests sent to fraud teams for investigation and track how cases generated by system rules are handled.
US auto lenders are expected to be exposed to more than $ 7.7 billion in potential fraud-related losses in 2022. Fraudsters and the schemes they employ to steal cars from lenders and dealerships are growing ubiquitously. year after year. Lenders accept this level of risk because it can be difficult to trust the information presented on loan applications by consumers, correspondents and dealers. Underwriters regularly struggle with synthetic identities, income and employment misrepresentation, document forgery, straw borrowing schemes and collateral fraud.
At the same time, these lending operations face the market expectations of continued growth and profitability, which cannot be achieved without technological tools that aggressively manage these fraud risks while capturing the business of a worthy borrower. of trust before they are served by a competitor. Case Manager provides lenders with a powerful tool that matches their business model and helps them achieve desired financial results for each lender’s portfolio and origination resources.
Tim Grace, co-founder and CEO of Point Predictive, hailed the launch of the Case Manager and Rules Engine as the dawn of a new era of control and flexibility for auto lenders. “Point Predictive introduced the auto loan industry to the Consortium approach, which has given lenders a cross-industry perspective on the reliability of the information they receive on credit applications,” he said. “With Case Manager, any auto finance organization is now able to streamline its entire fraud and risk underwriting process in the way best suited to its own strategy and operational realities. Every lender who has previewed Case Manager knows that this is one of the easiest ways to further reduce exposure to fraud losses while increasing top line, all in a way. which avoids any disruption of the technological infrastructure in place.
Point Predictive invites all lenders who wish to explore Case Manager and the other benefits of Consortium membership to contact [email protected]
About Point Predictive Inc.
Point Predictive enables lenders to fund more loans simply with a unique combination of artificial and natural intelligence [Ai+Ni] to power machine learning technology solutions. Point Predictive helps auto, mortgage, retail and personal loan finance companies identify consumer applications with truthful, reliable information without the intense querying and data verification caused by less technological solutions currently in use. Highly regarded as the most trusted fraud and misrepresentation analysis solutions provider, Point Predictive transformed that trust to allow lenders to simply fund more loans to more consumers. Point Predictive uses powerfully orchestrated big data from millions of examples of true and fake loan applications, billions of derived proprietary data elements, and scientifically-selected third-party data sources to create powerful machine learning models with l natural intelligence added to human experience. Located in San Diego, California, you can find more information about Point Predictive at www.pointpredictive.com.