Lobel Financial leverages Point Predictive tools to curb fraud
Point Predictive announced this week that Lobel Financial has successfully completed its Auto Fraud Manager implementation.
With Auto Fraud Manager now in place, Lobel Financial will use Point Predictive’s fraud alerts and scores in real-time within the finance company’s native origination environment across its entire application volume.
In feedback delivered to Point Predictive, the risk management department at Lobel Financial described the benefits of enhancing its in-house models through its consortium approach. According to a news release, Auto Fraud Manager “makes our operation better at reducing loss while eliminating unnecessary friction for trustworthy borrowers.” Also, the unique scores and alerts “give us data that we’d never see in our own silo.”
Point Predictive explained that the Anaheim, Calif.-based finance company’s enthusiasm stems from key features of the consortium-based solution that can address elevated risks of fraud. Such predictive features include geographic proximity to prior fraud, repetition or manipulation of Social Security Numbers, income misrepresentation, synthetic identity fraud and suspicious claims of employment or sources of income.
Point Predictive co-founder and chief executive officer Tim Grace added that Lobel Financial’s experience provides more evidence that Point Predictive’s cross-industry fraud consortium, combined with its patented Artificial + Natural Intelligence, can deliver a real-time, automated financing experience that is both consumer- and dealer-friendly.
“Auto Fraud Manager is a solution powered by unique automotive finance data that reduces or eliminates a wide range of fraud and misrepresentation risks,” Grace said about the company’s advanced data science that can modernize operations.
“By intelligently automating aspects of the lending decision, lenders can confidently grow their portfolios and deliver a modern borrower experience that gets more trustworthy people into the cars they need,” Grace continued.
“Collaboration and innovative data science are principles that we share with Lobel and we’re thrilled to work with their team,” he went on to say.
Finance companies interested in more information about Auto Fraud Manager or Synthetic ID Alert can send a message to firstname.lastname@example.org.