M&T Bank uses Point Predictive’s powerful outsourced fraud mitigation solution to keep auto loan risk at bay

SAN DIEGO – () – Point Predictive, the San Diego-based company providing machine learning solutions to the lending industry, today announced that M&T Bank has adopted the Outsourced Fraud Mitigation (OFM) service the company to stay on top in the fight against auto loan fraud. .

OFM is a fraud prevention service that alerts lenders of suspicious loan applications at very low false positive rates. This service is provided by Point Predictive’s seasoned fraud analyst team using the company’s patented Artificial + Natural Intelligence ™ (Ai + Ni) technology with its unique consortium data set. OFM gives lenders a more powerful fraud prevention strategy by identifying the riskiest applications and recommending or applying the appropriate verification measures.

“At M&T Bank, protecting our customers’ accounts and information and detecting where there may be risk is a top priority,” said Michael McClintock, Group Vice President and Director of Consumer Credit Operations at M&T Bank. “By partnering with Point Predictive and investing in advanced security tools, we are delivering frictionless fraud detection capabilities that integrate seamlessly into the customer journey, to stop fraudulent activity before it begins.

Point Predictive co-founder Frank McKenna, a recognized and respected expert in the fraud industry, designed the Outsourced Fraud Mitigation Service, which combines Ai + Ni technology with a consortium dataset comprising 80 million loan applications, billions of data points and a multi-dimensional fraudulent activity database system. Lenders using this proprietary fraud prevention technology to analyze industry-wide consortium data can detect 30-40% more fraud while eliminating annoying and time-consuming checks and stipulations on 50% or more of low risk legitimate consumer apps. Lenders have seen a substantial benefit to dealer and consumer experiences by reducing friction on these low-risk applications.

“Lenders will always be the target of fraudsters, but outsourced fraud mitigation can minimize the impact of fraud and misrepresentation to lenders while reducing operating costs of risk,” said Tim Grace, President- Managing Director of Point Predictive. He continued: “It is a pleasure to work with an innovative bank that is committed to keeping fraud at bay. With OFM, M&T Bank will be able to prevent difficult-to-detect fraudulent loans from sneaking off the books and provide a smooth loan decision-making process for trusted borrowers.

For more information on Point Predictive, please contact [email protected]

About Point Predictive Inc.

Point Predictive is an AI technology company with deep expertise in creating machine learning scoring models that have been widely deployed by banks and lenders. Point Predictive Solutions Enable Lenders to Fund More Loans Using a Patented Combination of Artificial and Natural Intelligence [Ai+Ni] that feeds into machine learning risk assessments. Point Predictive helps auto finance, mortgage, retail, personal loan, and student loan companies identify consumer loan applications that contain truthful and reliable information without the intense interrogation and verification of inferred data by the solutions currently used. Highly regarded as one of the most trusted fraud and misrepresentation solution providers for financial services companies, Point Predictive leverages this experience to help lenders securely fund more loans to more consumers. by reducing their misrepresentation and losses due to fraud. Point Predictive is a big data company using unique, powerfully orchestrated insights from millions of examples of true and fake loan applications, billions of derived proprietary data items, and scientifically-selected third-party data sources to create powerful machine learning models augmented by natural intelligence from human experience. Located in San Diego, California, you can find more information about Point Predictive at www.pointpredictive.com.

About M&T

M&T Bank Corporation (NYSE: MTB) (“M&T”) is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust related services are provided by affiliates of M & T’s Wilmington Trust and by M&T Bank.

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