Point Predictive

📢 We have some exciting news! 🎉Today we have launched IEValidate™️, a game-changing income and employment validation tool. ✅ Double the coverage ✅ Fraction of the cost ✅ Zero friction IEValidate revolutionizes lending by: ✅ Reducing paystub use ✅ Replacing costly database checks ✅ Validating income & employment in <500ms Learn more: https://lnkd.in/ev2pmFfz #verification #validation #voie #finTech #lending #innovation

Our beautiful HQ overlooks the San Diego city skyline, bay, and Petco Park. Meet some of our HQ team members, who strive to make lending safer through data science and analytics.

Are you worried about fraudulent loan applications in 2025? Most lenders and auto dealers are. Bad actors develop new, sophisticated ways to trick lenders and auto dealers every year. And in 2025, the industry will need to step up its fraud prevention game. Beyond these threats, what rising auto loan fraud schemes should lenders watch out for? #fraud #fraudprevention #lendingfraud

Warmest wishes to you and yours this holiday season from your friends at Point Predictive! 🎄

2024 estimates regarding the number of auto loan applications submitted using synthetic identities or Social Security numbers belonging to deceased individuals are alarming. In this article, our Chief Fraud Strategist, Frank McKenna explores these concerning fraud trends and provides a blueprint to help lenders combat synthetic fraudsters. We would like to thank Auto Remarketing Magazine and Cherokee Media Group for featuring this important piece in their December edition! You can find the article link in the comments section.

The United States is on pace for $40 billion in AI-enabled fraud by 2027. In his most recent Forbes article, Frank McKenna brings you up to speed with all you need to know about the top five AI scams set to surge in 2025. https://hubs.la/Q02__7wk0

This week on the "This Just In" podcast, Justin Davis, CFE and Frank McKenna discuss one of the biggest conversion complicators for dealers: Out-of-Wallet questions. 📜 Tune in for unique statistics and insights on using OTP verification to streamline loan processing.

🎉 We are thrilled to announce our expanded integration with RouteOne bringing game-changing fraud prevention and verification capabilities to 14,000+ dealerships across North America! Our enhanced partnership introduces instant income and employment validation through IEValidate™, alongside modern fraud fighting methods through BorrowerCheck™ – all seamlessly integrated into RouteOne's platform. This means dealers can now: ✓ Validate income & employment instantly ✓ Reduce the need for traditional pay stubs ✓ Complete identity checks in seconds, not minutes ✓ Identify fraud before it impacts the bottom line We're proud to partner with RouteOne in helping to transform how dealerships protect themselves while creating seamless experiences for legitimate buyers. Read the full press release at the link in the comments section. #dealerships #autolending #fraudprevention #identityverification #employmentverification

Based on insights from our proprietary risk data repository, the number of applicants using straw borrowers to qualify for auto financing is growing. We see the following types of straw purchases most frequently: 🚗 Subleasing straw – a straw borrower purchases a vehicle in exchange for an up-front payment. 👨👩👧 Family member straw – when someone gets a relative to buy a car for them. 🏠 Non-household straw – when an individual gets someone from a different household to take purchase a car on their behalf. 👵 Elder abuse straw – when a care taker or family member takes advantage of an older person and uses their credit to take out a loan. 🌍 Explorer straw – a straw borrower purchases a vehicle, which is then sold overseas. 🔗 Coerced straw – victims of coercion being forced to make a purchase. Which of these have you come across? Get our full Auto Lending Fraud Report containing more in-depth insights, in the comments section.

Welcome to the first edition of Scam Watch from Point Predictive. There is a growing wave of scams where victims are falling prey to two emerging threats: digital arrests and cyber kidnappings. For now, the majority of cases originate from China, Myanmar, and other Asian countries. In India, it got so bad that the country’s Prime Minister had to address the nation explaining how to not get conned by these schemes. The fraudsters are now expanding their sights to target North America – the biggest market for any type of scam. Here’s how each of these scams work, as a reminder for us all to stay vigilant. 1. Digital arrest 🚔 You get contacted by alleged law enforcement officers; they isolate you and use intimidation and fear to make you comply with their demands. These scammers can be extremely persuasive – armed with surveillance, access to your data, and fake documents – and can apply severe pressure during calls. For example, one 44-year-old doctor interviewed by the BBC was scammed out of all of her family’s savings (~$300,000). 2. Cyber kidnapping You’re notified that a loved one is in some kind of terrible trouble, which makes many people very suggestible. Most commonly, scammers use a kidnapping as a pretense but it can also be something like “your grandson has run someone over and we can make it all go away for some money.” This scenario can include staged evidence, voice cloning of your relative, and carefully crafted ransom demands. These threats are very dangerous since they capitalize on your emotions and use aggressive intimidation to get an immediate payment. It is extremely important to educate your older relatives about these new tactics because they are often the easiest targets. Luckily, once you’re aware of these scam patterns, the solution is very simple – the main rule is to stay calm and not make any rushed decisions. Step outside the reality that scammers try to create for you, verify you’re being swindled, and notify actual law enforcement professionals. That’s it for digital arrests and cyber kidnappings. We will continue to monitor new forms of fraud and scams that are being perpetrated and will update you about the new threats. Stay safe this holiday season and beyond, your friends at Point Predictive.