Dealership Adoption of Point Predictive's BorrowerCheck™ Surges to Counter Rising Auto Fraud and Buybacks

/EIN News/ -- SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) -- Point Predictive reports record growth in adoption of its fraud detection technology across dealerships nationwide. BorrowerCheck™ is being rapidly implemented by major dealership groups and lenders to combat auto lending fraud, which increased to nearly $9.2 billion in 2024.

The nationwide expansion includes partnerships with several prominent automotive retailers including Ken Garff Automotive Group, Bayway Auto Group, Napleton Automotive Group, Carriage Auto Group, Cavender Auto Family, along with hundreds of others. Point Predictive has also strengthened its integration with RouteOne®, enabling access to enhanced fraud detection capabilities for over 14,000 dealerships, and has established a partnership with OttoMoto® to provide a comprehensive suite of fraud detection, income, and employment validation solutions to dealerships nationwide.

Dealers who have implemented BorrowerCheck report significant improvements in their operations and relationships with lenders:

• Reduced Buybacks – Preventing 90% of buybacks that were previously missed using other solutions.
• Enhanced Red Flags – Eliminating legacy red flags that were prone to false positives.
• Faster Closing – Using One Time Passcode (OTP) validations which are 90% faster instead of historical question surveys that consumers find difficult to answer.

"With Point Predictive's unrivaled data accuracy, we now have a powerful ally in our fight against fraudulent misrepresentation at the point of sale," said Preston Stewart, National Variable Operations Director at Napleton Automotive Group.

"BorrowerCheck has been a game-changer for Carriage Auto Group," said David Basha, Owner and Founder of Carriage Auto Group. "We run a BorrowerCheck report for every client, even those with high credit scores, because they are often victims of identity theft. When even some of the most stringent traditional checks fail to identify fraudulent applicants, BorrowerCheck has succeeded."

"I see BorrowerCheck as a game-changer for our group because it provides excellent visibility into the actual risk of a borrower early in the process," noted Ben Stillwagon, Director of IT at Cavender Auto Family. "The tool allows us to quickly and easily determine if a borrower will create a compliance headache from the very start of the car buying experience, expediting the verification process for our legitimate buyers."

Point Predictive's solution eliminates cumbersome knowledge-based questionnaires and replaces them with SMS-based verification that takes only 20 seconds, compared to the previous 5-15 minutes.

The system draws from Point Predictive's data repository, including intelligence from over 250 million loan applications, 93 million consumer identities, 23 million employers and 300 million reported incomes. This helps dealers identify sophisticated fraud schemes traditional tools miss.

"Through BorrowerCheck, we've witnessed an incredible surge in dealer partnerships," said Tim Grace, CEO of Point Predictive. "This momentum illustrates the effectiveness of our solutions for dealerships. We remain dedicated to empowering dealerships to get deals done faster, ensuring safe lending, and cultivating collaborative dealer and lender success across the industry."

To enable seamless adoption of this solution, BorrowerCheck, Point Predictive and Route One completed a full integration of BorrowerCheck at the end of 2024. This enabled access for the solution easily accessible to more than 14,000 dealerships.

"We're proud to bring dealers an elevated integration with Point Predictive and comprehensive fraud-fighting solutions," added Jeff Belanger, Chief Revenue Officer at RouteOne. "By integrating advanced fraud detection directly into our platform, we're giving dealers tools to validate customer information before fraud impacts their business."

For more information, contact info@pointpredictive.com

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 from consumers, 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.

Media Contact
                    
                    Jill Robb
                    JROBB@PointPredictive.com