Point Predictive’s AutoPass Solution Improves the Lending Experience for Thin-File Customers in New Partnership with Tricolor

Point Predictive, the San Diego-based company that provides artificial intelligence (AI) solutions, announced that Tricolor, the nation’s largest used vehicle retailer to the Hispanic market providing affordable credit to 32% of U.S. Hispanics, has implemented AutoPass. A FCRA-compliant scoring solution, AutoPass leverages alternative data sources for consumers with non-traditional credit histories, and even those borrowers with no credit history to help lenders better gauge risk and fund more l****.

Using insights derived from the Point Predictive data repository, AutoPass considers historical fraud risk patterns to accurately predict early payment default and automate lending decisions for a faster, streamlined experience.

“We serve a unique population of borrowers who lack traditional credit histories,” said Daniel Chu, Founder, CEO, and Chairman of Tricolor. “A lack of robust credit bureau data on our customers can often present challenges that traditional credit risk models aren’t equipped to navigate. AutoPass provides us with valuable supplemental data sources to differentiate borrower risks and price l**** based on the likelihood of early payment default.”

AiThority: How Generative AI is Transforming Audio Content

AutoPass complements existing credit risk models. The solution can quickly identify low-risk applicants so lenders can offer favorable pricing and other credit-based incentives. In conjunction with existing credit risk models, AutoPass can be easily integrated to:

• Automate up to 70% of auto loan decisions without stipulations or manual reviews
• Reduce loan default by 40-60%
• Lower origination costs
• Improve profitability

“We recognize there is a range of challenges that can limit a lender’s ability to create funding opportunities for customers, and we are committed to assisting them in navigating these challenges,” said Tim Grace, Chief Executive Officer at Point Predictive. “AutoPass is revolutionizing the lending process by providing alternative data sources for customers with non-traditional credit histories to secure equitable and affordable auto l****.”

Read: How AI NFTs Are Unlocking the Democratization of the Digital Economy

[To share your insights with us, please write to sghosh@martechseries.com]