Company creates standard integration to enable more than 500 customers to use Point Predictive Risk Solutions
SAN DIEGO, Calif., June 18, 2020 – Point Predictive Inc., the San Diego-based company that provides machine learning solutions to lenders, announced today a new standard integration with TCI, a leading loan origination platform provider, to help lenders and finance companies better address the rising risk that they face with fraud and misrepresentation.
As part of this standard integration, Point Predictive’s full suite of Artificial intelligence solutions can be delivered to TCI’s customer base of more than five hundred finance and lending companies. The integration with TCI now means that all TCI customers will have quick access to solutions to help them better address fast-growing types of fraud such as synthetic identity fraud, income fraud and auto lending fraud.
“TCI is committed to delivering state-of-the-art capabilities to our lenders,” indicated Bill Nass, President of TCI. “Right now, fraud and risk are at the forefront of every lender’s mind; with the solutions provided by Point Predictive, we can help lenders rest a little easier. Point Predictive solutions will help our customers decide instantly, before they make decisions to fund loans, which applications contain accurate information and which ones do not. Partnering with Point Predictive gives our lenders instant access to Point Predictive’s multi-billion attribute fraud consortium and cutting edge Ai+Ni technology.”
Point Predictive’s suite of Ai machine learning scores and fraud alerting technology will give financial services companies using TCI’s loan origination system the ability to streamline applications for loans and new accounts by precisely identifying which applications contain misrepresentations. In most cases, Point Predictive is able to help lenders and finance companies identify a majority of their fraud risk in the riskiest 10% of their total application pool so they can perform greater due diligence on those applications prior to funding. At the same time, lenders can also use the technology to auto clear and remove burdensome friction from up to 30% of their applications that contain virtually no risk of fraud or misrepresentation.
“We’re excited that TCI completed the standard integration of the Point Predictive Ai auto loan application, dealer and income risk management products. We know finance companies and lenders want easier access to solutions in real-time that can help them immediately reduce fraud risk with low false positives,” says Tim Grace, CEO of Point Predictive. “With a respected solution provider like TCI, we can now easily provide access to our powerful scores and alerts to many finance companies that grapple with fraud issues each and every day but may not have the technology resources to implement quickly.”
TCI’s lenders will have access to a full suite of risk scoring technologies at their fingertips including Auto Fraud Manager, Auto Fraud Alert, IncomePass™ and SyntheticID Alert™.
Auto Fraud Manager and Auto Fraud Alert help auto lenders increase fraud detection by leveraging enhanced predictive algorithms and powerful proprietary alerting technology. Clients will have access to over 100 fraud alerts that match suspicious activity across the industry as well as fraud scores which can help them identify early payment default while simultaneously streamlining their lowest risk applications. The solutions enable lenders to screen for, and detect, all types of fraud including identity, employment, income, collateral and dealer risk.
Additionally, TCI will integrate Point Predictive’s cross industry solutions which can help financial institutions better identify specific types of misrepresentation. Synthetic ID Alert will enable banks to identify applications submitted by consumers using potentially fictitious or fabricated identities and IncomePass™ will help banks identify legitimate stated income from inflated or fabricated claims of income on applications.
Founded in 1982, Teledata Communications, Inc (TCI) is the provider of DecisionLender 4, a complete consumer loan origination platform (LOS). DecisionLender 4 is completely configurable, hosted in the cloud, and supports branch, online lending, indirect auto and merchant lending, and deposit account opening. The robust decisioning engine is the most versatile on the market, enabling manual or automated workflows. With over 130+ different 3rd party integrations ranging from alternative data sources, to fraud protection, to esignature and more, DecisionLender 4 truly empowers you to do business YOUR WAY! www.tcicredit.com
About Point Predictive Inc.
Point Predictive enables lenders to fund more loans simply with a unique combination of Artificial and Natural Intelligence [Ai+Ni] to power machine learning technology solutions. Point Predictive helps automotive, mortgage, retail and personal loan finance companies to identify the consumer applications with truthful and reliable information without the intense interrogation and verification of data caused by lower tech solutions currently in use. Highly regarded as the most trusted fraud and misrepresentation analytic solution providers, Point Predictive has transformed that trust to enable lenders to fund more loans to more consumers simply. Point Predictive uses big data powerfully orchestrated from millions of examples of true and falsified loan applications, billions of derived proprietary data elements, and scientifically selected 3rd party data sources to build powerful machine learning models with the added natural intelligence of human experience. Located in San Diego, California, more information about Point Predictive can be found at www.pointpredictive.com.