SAN DIEGO, Jan. 30, 2025 (GLOBE NEWSWIRE) — Point Predictive, the leader in artificial intelligence solutions for consumer lending, today announced that Neighbors Federal Credit Union has selected AutoPass to enhance their auto lending capabilities.
As auto lending fraud continues to evolve, with industry exposure reaching $8.1 billion in recent years, Neighbors Federal Credit Union is taking proactive steps to protect its members while making the lending process faster and more efficient.
The partnership comes at a crucial time in the lending landscape, where credit unions have emerged as leaders in auto loan originations. By implementing AutoPass, Neighbors Credit Union will be able to streamline low risk approved loans without requiring onerous documentation which will make it easier, faster, and safer for their members.
Point Predictive’s AutoPass delivers a comprehensive suite of fraud detection capabilities to Neighbors Federal Credit Union. This includes:
- Insights that can reduce stipulation requests on up to 80% of approved loans.
- A comprehensive risk score that helps prevent 40% to 60% of early pay defaults.
- Over 120 alerts that identify fraud across all fraud types.
“The lending environment has fundamentally changed, with fraudsters becoming increasingly sophisticated in their approaches,” said Tim Grace, CEO of Point Predictive. “By partnering with Neighbors Federal Credit Union, we’re helping them stay ahead of these evolving threats while making the lending process remarkably easier for their members. Our data shows that most borrowers are truthful in their applications, and now Neighbors Federal can quickly understand which borrowers are truthful so they can fast-track these legitimate applications while focusing their verification efforts where they matter most.”
The integration leverages Point Predictive’s proprietary data repository, which includes more than 76 billion unique borrower insights not available anywhere else. This comprehensive data foundation enables Neighbors Federal to automate decisions on up to 80% of their credit-approved applications while maintaining robust fraud protection.
“Our members deserve a lending experience that’s both secure and seamless,” said Steve Webb, the President and CEO of Neighbors Federal Credit Union. “Point Predictive’s AutoPass solution allows us to deliver on both fronts. We can now offer our members faster loan decisions while maintaining the highest standards of security that they expect from us.”
The implementation is expected to deliver significant improvements in loan processing efficiency. Banks and credit unions that use AutoPass experience loan conversion rates that increase by up to 50% through the elimination of unnecessary documentation requirements, while simultaneously strengthening their defense against sophisticated fraud schemes.
For more information, please contact info@pointpredictive.com.
About Point Predictive
Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as paystubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line.
About Neighbors Federal Credit Union
Founded in 1954, Neighbors Federal Credit Union is one of the largest community-chartered credit unions in Louisiana, serving over 76,000 members with assets exceeding $1 billion. Based in Baton Rouge, Neighbors Federal provides comprehensive financial services with a focus on member satisfaction and community service. For more information, please visit neighborsfcu.org.
Media Contact:
Jill Robb
jrobb@pointpredictive.com
