Point Predictive

Frank McKenna and I are excited to welcome the newest member of our Fraud Fighter family at Point Predictive Scott Ellefson aka "Scott You Covered" ??? Today on This Just In, we sit down with Scott to discuss his journey from protecting VW Credit as a Fraud Specialist to joining our elite team of fraud fighters. With years of experience defending one of the largest automotive captives from sophisticated fraud schemes, Scott brings invaluable frontline expertise to our growing roster. What makes Scott unique? His ability to spot patterns that others miss. At VW Credit, he developed a keen eye for identifying emerging fraud trends before they could make a significant impact. His proactive approach to fraud prevention helped keep his past employers one step ahead of bad actors. The addition of Scott to our team strengthens Point Predictive's position as we continue protecting lenders from increasingly sophisticated fraud schemes. We've now scored over 245M applications totaling over $4T, and with Scott on board, we're even better positioned to spot and stop fraud before it impacts our partners. Welcome to the team Scott. Fraudsters beware #fraud #fraudprevention #fraudawareness #fraudstrategy

It's International Fraud Week....and you know what that means. Another episode of This Just In! Today Frank McKenna and I discuss a concerning trend in lending. A trend we call "gig hiding" here at Point Predictive??? What exactly is gig hiding? It's when gig economy workers (think Uber, DoorDash, Lyft) intentionally mask their employment on loan applications to appear more "stable" to lenders. The numbers paint a clear picture: ?? 8% of gig economy workers change their claimed employer within 30 days between applications ?? When "gig hiding" is present, loans are 2.5x more likely to default than the industry average "It's just a little white lie about where I work" - Right? Wrong. Here's the reality: when a misrepresentation influences a lending decision AND leads to loss...that's fraud, plain and simple. What can lenders do? 1?? Leverage tools like IEValidate to instantly validate employment and income 2?? Use consortium data to spot behavioral patterns and information inconsistencies across applications The impact of these small deceptions adds up quickly. Understanding these emerging fraud trends isn't just important - it's crucial for protecting your portfolio. #fraud #fraudawareness #fraudprevention #fraudstrategy

?? New Episode Alert: When Dealerships Cross the Line In our latest podcast episode, Frank McKenna and I discuss how the Point Predictive Fraud team discovered a single dealership orchestrating a sophisticated employment fraud scheme that could have cost lenders hundreds of thousands if left undetected. The scheme: ?? Dealership created multiple shell companies ?? Used their own residential address to register fake businesses ?? Strategically routed applications to a specific lender ?? Fabricated employment data across multiple applications Why this matters: This case exemplifies why dealership monitoring isn't just a compliance checkbox—it's a critical line of fraud defense. One fraudulent dealership can impact hundreds of loans and multiple lenders before detection. The vast majority of dealerships are hardworking and honest. But this is why it's so important for lenders to actively monitor their dealership network. ?? A bad apple can spoil the bunch. By leveraging consortium insights from Point Predictive lenders can quickly catch when they may be getting adversely selected with bad loans, and shut off the spigot from bad dealers. #fraud #fraudprevention #autofinance #dealerfraud

Meet "The Valet"— a powerful story about how expanding vehicle accessibility changes lives. At Open Lending, our mission wouldn’t be possible without our valued partners. Together with financial institutions and auto lenders, we’re making the dream of vehicle ownership a reality for more people.? ? We’re proud to work alongside these organizations to create opportunities, foster independence, and drive meaningful change, one loan at a time. Watch the video and see the impact for yourself. See the full video at: https://lnkd.in/g7xMySeg