April 2024

Demystify Fraud

The definition of fraud in consumer lending is contentious because lenders define it slightly differently. Here are a few definitions I have heard: However, all of these are lagging indicators of fraud rather than predictions, since the events have already happened. In these cases, the borrower never intended to pay back the loan and likely

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New Survey Shows Where Automation And AI Increase Lender’s Operational Efficiency

Informed’s 2024 Auto Loan Survey Defect Report is out and shows that deal jacket errors are costing lenders millions and that many C-Suite Executives are still trying to understand the benefits of AI and automation. A majority of this year’s survey respondents said GAP refunds (25.3%), regulatory compliance (22%), delinquencies (21%), and fair lending (21%)

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New: American Banker - Sharing information = best defense against AI fraud

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