On the heels of announcing its partnership with Sofi, Point Predictive, the leader in artificial intelligence (“AI”) fraud solutions for the lending industry, today debuted a groundbreaking API designed exclusively for fintech and lenders. This cutting-edge API revolutionizes the verification process by enabling instant validation of borrowers’ income, employment, and identity risks, covering both first- and third-party fraud.
The API enables Fintech and lenders to access unique proprietary data and AI, machine learning scoring for accurate and speedy assessments of borrower first- and third-party risk. It validates incomes and employers in real-time, detects and alerts income misrepresentation and fake employers on applications, and assigns a precise fraud score that identifies identity theft and synthetic identity usage. Key features include red flag alerts for each fraud type, OTP phone identity validation for borrower authentication, OFAC checks, comprehensive dashboard reporting, and geo address survey questionnaires. At the heart of Point Predictive’s solutions lies its proprietary derived data repository, which aggregates information from over 130 million loan applications combined with AI and ML-generated data insights to represent over 24 billion rich data attributes. This information covers both credit-visible and credit-invisible consumer populations.
“Our team is thrilled to bring this state-of-the-art API to the fintech and lending industry,” said Tim Grace, CEO of Point Predictive. “This API establishes a new risk assessment standard and propels the future of fintech and lending. At Point Predictive, we lead the industry revolution, enabling faster, more accurate lending decisions with effective fraud prevention. This innovation in first-party fraud detection marks a significant step towards shaping fintech’s future and reaffirms our commitment to industry-wide transformation.”
In conjunction with this major release, Point Predictive is proud to welcome Barry Kirby and Lauren Crossett, renowned fintech visionaries, to its Advisory Board. With a wealth of experience in the industry, Kirby and Crossett will play a pivotal role in spearheading the next level of innovation and growth at Point Predictive.
Grace adds, “We are honored to have Barry Kirby and Lauren Crossett join our Advisory Board. Their deep understanding of the fintech landscape and proven track record of driving innovation make them an invaluable addition to our team. We are confident their strategic insights and expertise will propel Point Predictive towards even greater success.”