On the heels of announcing its partnership with RouteOne to help dealers curb fraud, Point Predictive announced the underwriting fruit of a collaboration with Sofi

Point Predictive recently debuted what it called a “groundbreaking” API designed exclusively for fintech and lenders designed to enhance the verification process by enabling instant validation of borrowers’ income, employment and identity risks, covering both first- and third-party fraud.

The company explained this API can enable fintechs and lenders to access unique proprietary data and AI, machine learning scoring for accurate and speedy assessments of borrower first- and third-party risk. It can validate incomes and employers in real-time, detect and alert income misrepresentation and fake employers on applications, and assign a precise fraud score that can identifies identity theft and synthetic identity usage.

Other key features include red flag alerts for each fraud type, OTP phone identity validation for borrower authentication, OFAC checks, comprehensive dashboard reporting, and geo address survey questionnaires.

At the heart of Point Predictive’s solutions lies its proprietary derived data repository, which aggregates information from more than 130 million loan applications combined with AI and ML-generated data insights to represent over 24 billion rich data attributes. This information covers both credit-visible and credit-invisible consumer populations.

“Our team is thrilled to bring this state-of-the-art API to the fintech and lending industry,” Point Predictive CEO Tim Grace said in a news release. “This API establishes a new risk assessment standard and propels the future of fintech and lending.

“At Point Predictive, we lead the industry revolution, enabling faster, more accurate lending decisions with effective fraud prevention. This innovation in first-party fraud detection marks a significant step towards shaping fintech’s future and reaffirms our commitment to industry-wide transformation,” Grace continued.

And not only does the company have these two recent developments adding to its momentum, Point Predictive mentioned it welcomed a pair of “renowned fintech visionaries” to its advisory board.

According to the same release, now part of Point Predictive’s advisory board are Barry Kirby and Lauren Crossett, who are being asked to play a pivotal role in spearheading “the next level of innovation and growth” at Point Predictive.

Grace said, “We are honored to have Barry Kirby and Lauren Crossett join our advisory board. Their deep understanding of the fintech landscape and proven track record of driving innovation make them an invaluable addition to our team.

“We are confident their strategic insights and expertise will propel Point Predictive towards even greater success,” Grace went on to say.