Surely, many different traits have tried to define human beings, but if we are being honest, none have done a better job than that desire of growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Point Predictive, the leader in artificial intelligence fraud solutions for the lending industry, has officially launched a brand-new API, which is designed to help fintech institutions and independent lenders conceive a more robust risk assessment infrastructure. According to certain reports, the new API makes a good chunk of its case by enhancing the verification process, ensuring the lender is able to instantly validate borrowers’ income, employment, and identity risks. But what really orchestrates this notably seamless validation on an actionable level? Well, the API basically leverages artificial intelligence and unique proprietary data to reach on an optimally-informed risk score, a score which covers, at length, the borrower’s first and third-party risk quotient. The stated score, however, comes only after extensive verification of incomes. This functionality, in particular, comes with a knowhow to facilitate simultaneous detection and dispatching of timely alerts on any fake income representations. Not just income, though, the API even has the necessary means to spot potentially fake employer-related declarations. Among other features, the API delivers at your disposal red flag alerts for each fraud type, OTP phone identity validation for borrower authentication, OFAC checks, comprehensive dashboard reporting, and geo address survey questionnaires. In case you still have a shade of doubt about this whole proposition, then it must be acknowledged how the API works quite tirelessly alongside Point Predictive’s proprietary derived data repository, which aggregates information from over 130 million loan applications combined with AI and ML-generated data insights to represent over 24 billion rich data attributes. Making this information all the more valuable is the fact that it 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,” said Tim Grace, CEO of Point Predictive. “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.”

Founded in 2013, Point Predictive’s rise is rooted in the ability to unlock a completely different look for our overall lending landscape. The company’s excellence in using artificial intelligence, powerful data insights generated through an industry-leading data repository, and decades of risk management expertise, has enabled it to realize an almost 30% to 50% reduction in  early payment default losses. By implementing a better risk assessment system, Point Predictive has also found success in terms of improving funding rates by 40% to 50%.