FinBe USA on Tuesday announced its adoption of Point Predictive’s AutoPass FCRA solution.

According to a news release, the implementation enables FinBe USA to leverage Point Predictive’s proprietary data repository and artificial intelligence to accelerate growth, automate fraud detection, reduce early payment defaults, and optimize loan stipulation requirements.

Since 2007, FinBe USA has worked with franchised and independent dealerships nationwide to provide financing options that help consumers build healthier credit scores.

Leadership said the adoption of AutoPass FCRA strengthens the company’s risk management capabilities while improving the lending experience for both dealers and borrowers.

The AutoPass FCRA solution analyzes loan applications from more than 38,000 dealerships monthly. It is powered by Point Predictive’s proprietary database containing insights from more than 285 million historical applications, 360 million reported incomes and 85 billion unique data points.

This analysis can generate a risk score and up to 150 specific alerts that identify potential fraud and misrepresentation across multiple categories, including identity theft, income misrepresentation, employment fabrication, straw purchases, and collateral fraud.

By implementing this technology, FinBe USA can now:

—Automate fraud detection checks on all their applications.

—Reduce losses due to early payment default and misrepresentation.

—Optimize their stipulation decisions and manual reviews.

—Improve their risk-based pricing.

“Adopting Point Predictive’s AutoPass FCRA solution represents our commitment to providing secure, efficient financing solutions that benefit our customers and dealerships,” FinBe USA CEO Scot Seagrave said in the news release from Point Predictive.

“The platform gives us unprecedented visibility into application risk patterns while streamlining the approval process for legitimate borrowers,” Seagrave continued. “This technology is helping us accelerate our growth, all while achieving superior portfolio performance.”

Furthermore, the AutoPass FCRA implementation can identify low-risk applicants who can be approved without extensive documentation requirements.

Point Predictive acknowledged traditional lending processes often require proof of income through pay stubs, bank statements, and employment verification letters, creating friction that causes qualified borrowers to abandon applications.

Research from Point Predictive shows that 90% of auto loan applicants are truthful about their income and employment information. The AutoPass FCRA solution uses advanced AI and data to identify these truthful borrowers in less than 1 second, allowing lenders to reserve intensive verification for applications showing genuine risk indicators.

Point Predictive went on to mention early payment defaults represent one of the most significant loss drivers for auto lenders, with up to 70% containing evidence of fraud or misrepresentation.

The AutoPass FCRA system can help prevent 40% to 60% of these defaults by identifying high-risk patterns before loan funding.

“FinBe USA’s adoption of AutoPass FCRA showcases their forward-thinking approach to risk management,” Point Predictive CEO Tim Grace said. “By leveraging our proprietary data and AI, they’re positioning themselves to approve more good loans faster while protecting their portfolio from sophisticated fraud schemes.

“This implementation exemplifies how lenders can use technology to create better outcomes for dealers, borrowers, and their bottom line,” Grace went on to say.