PointPredictive Inc., the San Diego-based machine learning company, announced today that Byrider has selected the companys risk scoring solutions to help them better segment high- and low-risk applications and dealers to improve profitability, expand loan availability and enhance the lending experience for both consumers and dealers. As part of the integration, Byrider will use the companys scoring solution " Auto Fraud Manager with Auto Fraud Alert Reporting " to identify misrepresentation and prevent default on high-risk applications while streamlining the approval process of low-risk applications to improve and expedite both the consumer and dealer loan funding experience, ultimately expanding their loan portfolio profitably. Byrider selected PointPredictives machine learning AI scoring after extensive testing of the solution and evaluating retrospective results. In our retrospective test with PointPredictive, we saw a significant lift in identifying defaults tied to misrepresentation and fraud, said Gary Harmon, Chief Risk Officer of Byrider. PointPredictive launched Auto Fraud Manager with Auto Fraud Alert Reporting to help address the $6 billion-dollar annual problem of misrepresentation and fraud that plagues the auto lending industry.

PointPredictive Inc. enables lenders to fund more loans simply with a unique combination of Artificial Intelligence and Natural Intelligence [Ai Ni] to power machine learning technology solutions. PointPredictive helps automotive, mortgage, retail and personal loan finance companies 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. With the legacy of being the most trusted fraud and misrepresentation analytic solution providers, PointPredictive has transformed that trust to enable lenders to fund more loans to more consumers more easily. PointPredictive uses big data powerfully orchestrated from millions of examples of true and falsified loan applications, billions of derived proprietary data elements, and scientifically selected third-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 PointPredictive can be found at www.pointpredictive.com.

Verifying income can be an expensive process for finance companies; one where the cost can become even steeper if the contract holder falls into delinquency and is eventually charged-off because the individual didn't have steady enough money to support monthly payments. PointPredictive is looking to help finance companies avoid both of those scenarios with its latest tool as the Emerging 8 firm recently announced the general availability of IncomePASS. The company explained the solution can offer a real-time assessment of an applicant's stated income to allow highly accurate clearing of validated incomes. PointPredictive believes its tool can enable finance companies using costly paycheck stub manual reviews across their portfolio to drastically reduce their expenses while improving the overall accuracy of their income validation efforts to stop defaults. "Traditional legacy tools are expensive and provide incomplete coverage," PointPredictive chief executive officer Tim Grace said in a news release.

Is auto lending becoming a breeding ground for fraud -- much like what occurred with mortgage loans during the housing bubble of the mid-2000s? Tim Grace and Frank McKenna, two San Diego fraud analytics software veterans, think there is increasing fraud risk in auto lending, fueled in part by a surge in subprime loans. They've co-founded PointPredictive, a start-up that taps machine learning algorithms to spot fishy loans. Joe Jackson, former head of Wells Fargo Ventures, is also a co-founder. The 13-employee firm said Wednesday it has raised its first round of venture funding from San Francisco-based Mosaik Partners.