Alternative Lending / Fintech Solutions - Point Predictive
Alternative Lending/ Fintech
Point Predictive's Alternative Lending And Fintech Software Solutions Leverage Our Proprietary Data Repository To Automate Assessment Processes.
Income Assessment
Stated income is notoriously falsified and unreliable. Paycheck stubs are easily forged and labor-intensive to verify. IncomePass™ provides an accurate, automated SaaS solution for income assessment.
What It Does
IncomePass analyzes stated income against millions of historically reported salaries across all occupations and cities, IRS income data, census data, and many other sources to validate an applicant’s income for reasonableness. It is an automated and reliable way to identify when a borrower’s income is materially overstated.
How It Helps
- Reduces losses due to income misrepresentation by detecting 60% – 80% of inflated income
- Eliminates the high cost of income verification for the vast majority of applications
- Improves your customer’s experience by reducing friction (i.e., requests for pay stubs) for most borrowers
- Increases pull-through by validating income in real time
Find out more about IncomePass
Employment Assessment
Some untrustworthy borrowers try to trick lenders into believing that they are employed by fictitious companies, or by using synthetic identities. Unfortunately, it’s a common fraud tactic to set up fake websites, internet listings, and an answerable telephone number where a live person will “confirm” bogus employment and income. BorrowerCheck™ for Lenders helps ensure higher quality applications and a streamlined lending process through early identification of a wider range of potential applicant misrepresentation.
What It Does
BorrowerCheck software for lenders provides a detailed, sub-second response to a lender’s inquiry. Leveraging Point Predictive’s proprietary data repository, lenders have access to improved risk assessments and detailed risk scores to lend more confidently, while reducing the risk of fraud-based losses. A BorrowerCheck for Lenders API is now also available.
How It Helps
- BorrowerCheck goes beyond detecting simple identity theft to consider income, employment, and synthetic identity-related risks.
- A risk-based score helps to fast-track trustworthy applicants, creating a more efficient loan approval process.
- Provides a risk score for each application that reflects BorrowerCheck’s prediction of identity, employment, and income misrepresentation.
- Generates red flags based on the analysis of public records (including OFAC) and our proprietary data repository.
Find out more about BorrowerCheck for Lenders