American Credit Acceptance Adopts Point Predictive Automatic Fraud Manager to Better Target Financing Terms and Drive Dealer Network Expansion with Confidence
SAN DIEGO – (COMMERCIAL THREAD) – Point Predictive, the artificial intelligence company that builds trust in lending, today announced that American Credit Acceptance, one of America’s leading auto finance companies, has adopted its Auto Fraud Manager solution to automate and improve the lender’s funding stipulation decision strategy and reliably keep fraud exposure low. As the volume of new originations remains robust, many lenders have the opportunity to safely and profitably grow their auto loan portfolios by intelligently automating stipulations at the time of application. With Auto Fraud Manager, American Credit Acceptance (ACA) will leverage Point Predictive’s unique industry-wide Consortium data approach to securely expand its dealer network and build trust across the board. from his wallet.
Auto Fraud Manager was developed using Point Predictive’s patented Artificial + Natural Intelligence ™ machine learning approach, which provides predictive fraud scores, reason codes and fraud alerts that cannot be generated that with a prospect of over one hundred million historic loan applications and billions of risk attributes. . This innovative data science application informs the smartest stipulation determinations for each future loan application based on its unique risk profile at that time. Fraud can be predicted based on links to previous early payment defaults, suspicious patterns, and deeply analytical inferences based on a wide range of fraud risks.
“American Credit Acceptance invests in cutting-edge technologies to deliver a low friction borrowing experience to as many car buyers as possible,” said Pardhav Lingam, vice president of business analysis at ACA. “Since a large portion of our lending is indirect, it is critical that ACA adopts a stipulation strategy that improves the experience of trusted borrowers and helps us maintain a strategically aligned dealer network for results. positive for everyone in the auto finance ecosystem. He continued. “We already use Point Predictive’s Synthetic ID Alert ™ solution, so our adoption of Auto Fraud Manager confirms our commitment to the proven Data Consortium approach,” he concluded.
Tim Grace, co-founder and CEO of Point Predictive, celebrated ACA’s decision to harness data science to achieve its strategic growth and risk management goals. “The stipulation strategy has emerged as a key innovation opportunity that directly generates bottom-line results for auto finance companies,” he said. “We are proud to have partners like ACA whose participation in the Consortium has confirmed Point Predictive’s leadership in fraud technology and machine learning,” he concluded.
With Consortium members approaching America’s top 50 lenders and dozens of other lenders planning to adopt Point Predictive’s AI solutions and strategies for risk management, Frank McKenna, co-founder and chief fraud strategist for Point Predictive sees only one choice for auto lenders. “Intelligent automation of fraud management is imperative for growth,” he said. “Lenders want to increase origination volumes through all channels, including through dealer networks and digital channels,” he said. “We are delighted that ACA sees Point Predictive as the obvious technology partner in this mission,” he concluded.
As part of its review process, ACA engaged Point Predictive to perform a retrospective analysis to understand the effectiveness and risk reduction impact of using Auto Fraud Manager to improve stipulation strategies. . In particular, the study identified 33% of the total volume of loan applications that could be streamlined, providing the opportunity to eliminate unnecessary expenses and speed up funding. With Auto Fraud Manager informing the stipulations, the risk of prepayment default associated with these streamlined loans could be reduced to less than 1%.
Auto Fraud Manager is available today for all financial service providers looking for reduced loss exposure and fast-start financing for trusted borrowers. Please contact [email protected] for more information.
About Point Predictive Inc.
Point Predictive Inc. is a leading provider of machine learning AI solutions for banks, lenders, and finance companies. It solves billion dollar risk issues related to student loans, mortgages and retail with the latest technology platforms, smarter science and business experience by harnessing big data with analytical models. Located in San Diego, California, you can find more information about Point Predictive at www.pointpredictive.com.
About American Credit Acceptance
American Credit Acceptance (ACA) works with strategic dealer partners across the United States to enable consumers with emerging credit to purchase reliable vehicles. In doing so, our reseller partners gain new customers and these customers gain new opportunities. ACA has served more than 630,000 customers, employs a team of more than 1,000 associates and maintains successful partnerships with more than 2,500 dealer partners. American Credit Acceptance is part of the Johnson group. More information about American Credit Acceptance can be found at americancreditacceptance.com.