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Stock impact report

Consumer Portfolio Services Partners with SentiLink to Enhance Fraud Prevention

Consumer Portfolio Services, Inc. (CPSS) 
Last consumer portfolio services, inc. earnings: 4/15 05:21 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.consumerportfolio.com/investor-relations
Company Research Source: GlobeNewswire
LAS VEGAS, NV, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”), a leader in providing indirect automobile financing to consumers, today announced that it has partnered with SentiLink, a leading provider of advanced identity verification and fraud detection solutions. The partnership enables CPS to improve its fraud prevention efforts while also saving the Company approximately $1 million per quarter so far. SentiLink’s AI-driven technology analyzes key identity and fraud indicators to generate actionable reports for CPS, helping the Company lend to legitimate, verified borrowers. This improvement in fraud detection directly supports CPS’s goal of significantly reducing lifetime portfolio losses, ultimately reinforcing financial performance. “Fraud prevention is an increasingly vital component of our risk management strategy,” said Robert DeJarnette, VP of Risk Management at CPS. “With the rise in fraud attempts across Show less Read more
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