Point Predictive is gaining significant fraud-prevention traction among dealership groups, too.

The provider of artificial intelligence solutions for consumer lending announced a pair of dealership groups have implemented BorrowerCheck across their dealerships to enhance their fraud prevention and strengthen lender relationships.

The new users include Bayway Auto Group, one of Houston’s automotive dealer groups, and Ken Garff Automotive Group, which operates 70 dealerships across multiple states.

Point Predictive said the implementation comes at a critical time when automotive financing fraud has reached $8 billion annually, according to its own research, putting dealers at risk of costly buybacks.

“Our lending partners are the backbone of our business and providing them with high-quality loans is a top priority,” said Darryl Wischnewsky, owner and president of Bayway Auto Group.

“BorrowerCheck gives us powerful tools to validate customer information quickly and accurately to prevent fraud,” Wischnewsky continued in a news release. “We’re catching potential fraud before it becomes a problem, significantly reducing our buyback exposure and strengthening our relationships with lenders.

“The solution pays for itself by preventing just one potential buyback, but a big value is maintaining our reputation as a trusted partner to our lending institutions,” he added.

Point Predictive explained BorrowerCheck can replace traditional red-flag and out of wallet solutions with comprehensive identity, income, and employment validation.

The solution’s phone-based passcode verification process takes just 20 seconds, compared to the conventional knowledge-based questionnaires which can take 15 minutes, dramatically improving customer experience while providing superior fraud protection.

Point Predictive highlighted that Bayway Auto Group and Ken Garff dealers will benefit from BorrowerCheck in several ways, including:

—Prevent pushbacks by detecting over 90% of fraud traditional red flag reports miss

—Detect all types of fraud including identity, income, and employment misrepresentation

—Activate 100% seamless integration requiring no change to existing processes.

“The automotive retail landscape is evolving rapidly, and so are the fraud risks our dealers face,” Ken Garff Automotive Group CEO Brett Hopkins said in another news release. “By partnering with Point Predictive, we’re not just protecting our bottom line, we’re ensuring our customers have a seamless, secure car-buying experience while safeguarding our relationships with lending partners.

“When our dealerships identify a single instance of fraud with BorrowerCheck it delivers a significant return on investment,” Hopkins went on to say.

Point Predictive mentioned that the implementation of BorrowerCheck requires no operational changes for dealerships, seamlessly integrating into existing workflow and process while providing more comprehensive protection against identity, income and employment fraud.

The system’s comprehensive approach draws on Point Predictive’s proprietary data repository, which includes intelligence from over 250 million historical loan applications, historical information on over 93 million unique identities, insights on more than 23 million employers and 300 million historically reported incomes.

“Bayway Auto Group exemplifies how forward-thinking dealerships can leverage BorrowerCheck to protect their business while enhancing the customer experience,” said Tim Grace, CEO of Point Predictive.

“In an environment where sophisticated fraud schemes are becoming increasingly common, dealers need robust tools to protect themselves, their relationships with lenders and make the car buying experience easy for consumers,” Grace continued. “Bayway Auto Group’s proactive approach to fraud prevention and our advanced fraud solution create a model for how dealerships can thrive in today’s challenging market while maintaining strong lender partnerships.

“The automotive industry is moving beyond outdated red flag solutions that generate excessive false positives and miss sophisticated fraud schemes,” Grace went on to say. “By leveraging our proprietary database and technology, BorrowerCheck helps dealerships like Ken Garff identify fraud that traditional tools miss and that often leads to costly loan pushbacks.

“Our modern approach doesn’t just catch more fraud — it makes the entire process significantly faster and more effective, replacing cumbersome 15-minute authentication surveys with 90-second verifications. This is the future of fraud prevention and customer satisfaction at dealerships,” he added.

For more information, contact the company at info@pointpredictive.com.