SAN DIEGO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Point Predictive, a leader in artificial intelligence ("AI") consumer lending solutions, today announced the integration of its BorrowerCheck for Lenders platform with Zest AI, a leading provider of AI-automated credit underwriting technology, to fortify lenders against first- and third-party fraud. This collaboration aims to elevate the accuracy and efficiency of credit decision-making processes while safeguarding against fraudulent activities within loan applications.
"We are pleased to collaborate with Zest AI in integrating BorrowerCheck into their credit decisioning solution. By combining Zest AI's expertise in AI-driven underwriting with our accurate and comprehensive solution, lenders can now enhance their fraud detection capabilities and make more informed lending decisions," said Justin Davis, VP of Product Delivery at Point Predictive.
"Fraud is a growing concern in the industry, and integrating Point Predictive's BorrowerCheck with our AI-automated underwriting technology will provide our clients with a seamless and impactful way to combat fraud and enhance the integrity of lending processes," stated Jose Valentin, SVP of Partnerships at Zest AI. "By harnessing the power of advanced AI technology and proprietary data repositories, we are empowering lenders to proactively identify and mitigate fraud risks, ultimately fostering a more resilient and secure lending environment."
First-party fraud (perpetrated by the real person seeking the loan) and third-party fraud (perpetrated by criminals) are widely recognized as growing challenges for the financial services industry. Leveraging BorrowerCheck and Point Predictive's proprietary data repository, lenders gain access to enhanced risk assessment capabilities, enabling the early detection of a diverse array of applicant misrepresentations.
For more information about Point Predictive's BorrowerCheck for Lenders, please visit https://pointpredictive.com/borrowercheck-for-lenders/.
About Point Predictive
Headquartered in San Diego, California, 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, such as paycheck stubs, utility bills, or bank statements, improving funding rates by 40-50% while reducing early payment default losses by more than 30-50%. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line. For more information, please visit https://pointpredictive.com/.
Media Contact:
jacqueline.silva@pointpredictive.com
