Neighbors Federal Credit Union and Point Predictive finalized a partnership last week with the auto finance provider selecting AutoPass to streamline originations.

By implementing AutoPass, executives said Neighbors Credit Union will be able to approve low-risk applications without requiring onerous documentation which will make it easier, faster, and safer for their members.

“Our members deserve a lending experience that’s both secure and seamless,” Neighbors Federal Credit Union president and CEO Steve Webb said in a news release. “Point Predictive’s AutoPass solution allows us to deliver on both fronts. We can now offer our members faster loan decisions while maintaining the highest standards of security that they expect from us.”

Point Predictive’s AutoPass can deliver a comprehensive suite of fraud detection capabilities to Neighbors Federal Credit Union. This includes:

—Insights that can reduce stipulation requests on up to 80% of approved contracts.

—A comprehensive risk score that helps prevent 40% to 60% of early pay defaults.

—More than 120 alerts that identify fraud across all fraud types.

Point Predictive’s proprietary data repository includes more than 76 billion unique insights. This comprehensive data foundation is designed to enable Neighbors Federal and other clients to automate decisions on up to 80% of their credit-approved applications while maintaining robust fraud protection.

The implementation is expected to deliver significant improvements in processing efficiency.

Point Predictive said banks and credit unions that use AutoPass experience conversion rates that increase by up to 50% through the elimination of unnecessary documentation requirements, while simultaneously strengthening their defense against sophisticated fraud schemes.

“The lending environment has fundamentally changed, with fraudsters becoming increasingly sophisticated in their approaches,”, of Point Predictive CEO Tim Grace said. “By partnering with Neighbors Federal Credit Union, we’re helping them stay ahead of these evolving threats while making the lending process remarkably easier for their members.

“Our data shows that most borrowers are truthful in their applications, and now Neighbors Federal can quickly understand which borrowers are truthful so they can fast-track these legitimate applications while focusing their verification efforts where they matter most,” Grace went on to say.

For more information, send a message to info@pointpredictive.com.