A recent dealer survey by eLEND Solutions showed how much stores feel exposed to fraud.

Last week, Point Predictive launched a solution to address that specific challenge and more with a tool to help finance companies vet dealerships based on their historical contract performance

Point Predictive highlighted DealerExplorer is a solution that can help auto finance companies evaluate prospective dealerships before adding them to their network by providing insights into the quality and quantity of deals originating from a dealership.

Point Predictive said through a news release that its tool can help finance companies better assess risks associated with dealerships they may be considering for their portfolio.

DealerExplorer can provide data for finance companies to evaluate prospective dealerships based on their contract performance history as seen in the Point Predictive data consortium.

Finance companies can receive comprehensive reports on prospective dealerships and can extract raw data from the report to use during their internal analysis and onboarding processes.

DealerExplorer users can expect to strengthen and expand their dealership portfolio and reduce the risk of default.

The solution can provide insights into more than 150,000 dealerships nationwide to ensure that finance companies are receiving high-quality applications and paper while forming successful partnerships with dealers.

“Historically, when indirect lenders are evaluating a dealership for addition to their portfolio, they have very limited information regarding the dealership’s historic loan performance and what kind of risks that dealership might present,” Point Predictive CEO Tim Grace said. “DealerExplorer leverages our data consortium to provide lenders with insights into dealerships they currently have no relationship with. This provides valuable information to help determine whether a particular dealership is a good fit to be added to a lender’s dealership network and can improve the quality of loans in their portfolio.”

The Point Predictive data consortium was purpose-built for risk management with:

—More than 120 million historical applications

—Reported income for more than 61 million consumers

—17 million employer records with 8,100 fake employers

—More than 200,000 Social Security Numbers tied to default

—102 million Social Security Numbers of deceased individuals

—More than $9.1 billion in contract with early payment defaults

—$1 billion in paper identified as fraudulent

—Millions of addresses and telephone numbers linked to risk of fraud or default.

To learn more about DealerExplorer visit https://pointpredictive.com/ or contact info@pointpredictive.com.