SAN DIEGO, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Point Predictive, the leader in artificial intelligence (AI) and machine learning (ML) fraud solutions for the auto lending industry, today announced a significant expansion of its integration with RouteOne®.
The expansion includes access to IEValidate™, Point Predictive’s innovative income and employment validation solution that lets dealers validate a borrower’s income and employment instantly, alongside a host of new fraud and identity check capabilities that will help dealers avoid pushbacks and save time.
Building on the integration of BorrowerCheck™ released earlier this year, which provided 14,000 dealerships access to new red flags and identity check, this enhanced integration provides a full integration of identity checks, phone validation and one-time passcodes as well as income and employment validation. This means dealerships can proactively stop fraud easier and faster than before while stopping pushbacks.
IEValidate: Validate Income and Employment Without the Hassle of Pay Stubs
With IEValidate, dealers and lenders can eliminate requests for pay stubs, which are difficult for an applicant to provide and are often forged. IEValidate is easier, faster, and more reliable, which means less work for everyone, including the applicant. In an instant, a dealership can receive a full report on an applicant’s income and employment history. In addition, IEValidate confirms that the employer is not one of the 14,000+ fake employers that Point Predictive has identified as being used on fraudulent applications in the U.S. today.
BorrowerCheck: More Modern Fraud Fighting Methods
Point Predictive is helping dealerships stop pushbacks. BorrowerCheck eliminates dated red-flag checks which are often inaccurate and take too much time to review. New alerts provide clear direction on where the risk is, and how to resolve it quickly.
The solution also replaces traditional Credit Bureau Interview Questions that can take 5 minutes or more to complete. Instead of those questions, BorrowerCheck provides SMS-based verification, which can be completed in less than 20 seconds. The solution works better and is faster than existing red flag tools used by dealers.
"This expanded integration with RouteOne is fundamentally changing the game for dealerships by giving them unprecedented access to comprehensive fraud prevention tools right at their fingertips," said Bill Hall, Chief Operating Officer at Point Predictive. "By combining our innovative IEValidate solution for instant income and employment verification with enhanced identity verification capabilities, we're empowering dealers to make faster, more confident decisions while dramatically reducing the risk of fraud. This is more than just an upgrade – it's a complete transformation in how dealerships can protect themselves against fraud while creating a seamless experience for legitimate buyers."
"We're proud to bring dealers an elevated integration with Point Predictive and give them the ability to choose comprehensive solutions that fit their needs to combat fraud," said Jeff Belanger, Chief Revenue Officer at RouteOne. "By integrating Point Predictive's advanced fraud detection and verification solutions directly into our platform, we're giving our dealers the tools they need to validate customer information and stop fraud before it impacts their business. This enhanced integration exemplifies RouteOne’s commitment to providing dealerships with innovative solutions that protect their bottom line while compliantly streamlining their customer experience."
About Point Predictive
Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company's data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as pay stubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line. For more information, please visit pointpredictive.com.
About RouteOne
RouteOne was formed in 2002 by Ally Financial, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services to improve the F&I process for automobile dealers and their customers. Connecting thousands of dealers and finance sources in North America for vehicle financing, RouteOne’s platform delivers a comprehensive suite of F&I solutions across multiple channels: in-store, online, mobile, and via third-party solutions. Its product line-up includes credit application, eContracting, menu, online/mobile retail services, and compliance. In addition, RouteOne enables dealer choice across a wide variety of best-in-class providers through open integrations with over 200 DSPs. More information is available at routeone.com.
Point Predictive Media Contact:
Jill Robb
