Post Tagged with: "fraud"

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Due Diligence Instead of Damage Control: Stopping Auto Lending Fraud Before It Starts

Payments, Risk April 10, 2018 at 10:36 am

The hard-won lessons of the 2008 financial crisis are more relevant today than ever. While the mortgage industry tightened regulations and lending standards post-crisis, the same cannot be said for the auto lending industry. The volume of auto lending has been steadily growing since 2010, and fraud is unfortunately onRead More

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

Best Practices, Guides, Risk January 5, 2017 at 11:00 am

With dealer fraud reaching “higher than normal” levels for Pelican Auto Finance LLC, the subprime lender has been looking to develop a lender network to share dealer fraud insights, said Troy Cavallaro, the company’s chief executive. However, the company has been “unable to move the needle” on the project dueRead More

3 Ways Lenders Can Utilize Alternative Data [VIDEO]

3 Ways Lenders Can Utilize Alternative Data [VIDEO]

Best Practices, Guides, Operations June 8, 2016 at 10:54 am

PLANO, Texas — Using alternative data solely for credit decisions “is a narrow view,” according to Daniel Parry, co-founder and chief executive of Praxis Finance. Lenders can also utilize alternative data to better manage other parts of the business, including in the collections process and to mitigate consumer fraud. PraxisRead More

‘Big Data’ Offers Potential for Finance Companies

‘Big Data’ Offers Potential for Finance Companies

Best Practices, IT, Operations May 28, 2013 at 7:35 pm

The amount of data created online last year would fill 57.5 billion 32-GB Apple iPads, which, stacked up, would form a mountain 25 times higher than Mount Fuji. This “big data” presents opportunity ― and obstacles ― for auto financiers, said Don Goin, chief information officer at Capital One AutoRead More