Automotive Fraud

Auto Fraud Manager leverages data from our auto lender consortium members to identify and predict all fraud types in a single, integrated fraud score.
Auto Fraud Manager
Automotive lending fraud is an industry-wide problem. While most application fraud scores target identity fraud alone, Auto Fraud Manager leverages data from our auto lender consortium members to identify and predict all fraud types in a single, integrated fraud score.
What It Does

Auto Fraud Manager is a predictive scoring solution 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, Auto Fraud Manager provides reason codes to help fraud analysts streamline their investigative strategies. These output indicators are used to prioritize a deeper fraud review.

 

How It Can Help

Auto Fraud Manager helps your organization to accurately and cost-effectively detect and reduce fraud in the auto lending originations process. It also provides information on dealers that have been reported as “high risk” by consortium members. As a result, you can have the confidence to
know you can prevent fraud losses while growing a profitable auto loan portfolio.

For one lender Auto Fraud Manager was shown to identify $50 million in annual previously hidden fraud. This equated to a 37:1 return on investment (ROI).

Many Types of Auto Fraud

Key Benefits

AUTO FRAUD ALERT
New auto loan application data is compared to millions of attributes from historic application and loan performance data assets to identify fraud risk. Lenders receive alerts when new application data is associated with historic fraud or defaulted loans, or is different from recent applications by the same applicant sent to other lenders.
WHAT IT DOES

Auto Fraud Alert provides auto lenders a machine-learning based fraud score and more than 100 alerts based on comparing and validating the information a lender receives on an application against data attributes derived from the PointPredictive auto lender consortium.

The predictive fraud score is influenced by the fraud alerts and enables lenders to rank order the riskiest applications to work first, streamline those with the lowest risk scores, and use the alert details in the fraud review process.

HOW IT CAN HELP

Auto Fraud Alert helps auto lending organizations accurately detect and reduce fraud in the auto lending originations process. It also provides extensive fraud-related attributes derived from the PointPredictive auto lender consortium that can be used during the underwriting and fraud review processes. As a result, you’ll have the predictive analytics and data you want to make the best fraud risk management decisions.