Flexcar Halves Risk Rates from 10% to 5% and Reduces Asset Loss to Zero
10%->5%
average risk rates
13%->6%
subprime risk rates
0
asset losses
About
Flexcar
Flexcar offers a flexible alternative to traditional car ownership, providing users with the freedom to drive without the long-term commitment and costs associated with owning a vehicle. Their service is available as an alternative to auto loans with insurance, maintenance, and roadside assistance included in straightforward pricing. Flexcar aims to simplify how people access and use cars, making mobility easier and more adaptable to individual needs and lifestyles.
Use Case/s
Credit Decisioning
Fraud Detection
Industry
Automotive Financing
Visit their website
↗
The Challenge
Flexcar suffered from lost assets and a non-traditional risk management framework for their industry.
Flexcar struggled to efficiently manage risk in a complex auto leasing industry. They faced high risk rates, asset loss, data integration challenges, and lengthy consensus-building phases that delayed improvements.
Prior to the partnership, Flexcar was dealing with the complexities of risk management outside the traditional banking environment. The lack of a straightforward, impactful risk management framework meant extended periods devoted to educational and consensus-building processes before any real implementation could begin.
In particular, they struggled with:
Lengthy education and consensus-building phases
Implementing effective risk management strategies required extensive education and consensus-building within the organization. These lengthy processes delayed the adoption of actionable risk management practices.
Asset misplacement and loss
Flexcar was dealing with issues related to asset misplacement and loss, which can be costly for the company. Each lost vehicle could cost thousands of dollars, impacting their bottom line.
Inefficient manual processes
Prior to partnering with Oscilar, Flexcar's risk management processes were manual and time-consuming, leading to operational inefficiencies and slower response times to emerging risks.
Lack of data integration
Flexcar needed a way to integrate multiple data points to enhance their decision-making and risk management capabilities. The lack of data integration made it challenging to build effective rule sets and respond quickly to changing risk factors.
![](data:image/svg+xml,<svg display="block" role="presentation" viewBox="0 0 48 48" xmlns="http://www.w3.org/2000/svg"><g d="M 46.882 24.345 L 35.413 24.345 C 34.868 24.345 34.402 24.74 34.323 25.269 C 34.141 26.487 33.841 27.656 33.453 28.763 C 32.117 32.604 29.651 35.774 26.545 37.726 L 26.577 37.726 C 26.577 37.726 35.2 37.505 38.085 28.763 L 38.085 28.763 L 42.677 28.763 C 40.772 34.24 36.591 38.351 31.501 39.505 C 30.56 39.718 29.596 39.829 28.6 39.829 C 26.988 39.829 25.439 39.536 23.984 38.991 C 19.684 37.386 16.207 33.6 14.523 28.755 C 14.128 27.641 13.835 26.471 13.654 25.261 C 13.575 24.724 13.108 24.337 12.563 24.337 L 1.11 24.337 C 0.438 24.337 -0.084 24.937 0.011 25.601 C 0.161 26.684 0.383 27.735 0.675 28.763 C 3.181 37.734 10.611 44.247 19.368 44.255 C 15.108 42.808 8.445 38.769 5.307 28.763 L 5.307 28.763 L 5.307 28.763 L 9.899 28.763 C 11.101 33.047 13.424 36.786 16.483 39.505 C 18.665 41.449 21.218 42.88 24 43.638 C 25.478 44.041 27.027 44.255 28.616 44.255 C 37.382 44.255 44.819 37.734 47.325 28.763 C 47.609 27.743 47.831 26.684 47.989 25.601 C 48.084 24.937 47.562 24.337 46.89 24.337 Z M 1.11 19.918 L 12.579 19.918 C 13.124 19.918 13.59 19.523 13.669 18.993 C 13.851 17.776 14.152 16.606 14.539 15.5 C 15.875 11.658 18.333 8.489 21.431 6.537 L 21.407 6.537 C 21.407 6.537 12.784 6.758 9.899 15.5 L 9.899 15.5 L 5.307 15.5 L 5.307 15.5 C 7.204 10.022 11.393 5.904 16.475 4.75 C 17.416 4.537 18.38 4.426 19.376 4.426 C 20.989 4.426 22.538 4.719 23.992 5.264 C 28.292 6.869 31.77 10.655 33.453 15.5 L 33.453 15.5 L 33.453 15.5 C 33.848 16.614 34.141 17.784 34.323 18.993 C 34.402 19.531 34.868 19.918 35.413 19.918 L 46.882 19.918 C 47.554 19.918 48.076 19.318 47.981 18.654 C 47.831 17.579 47.609 16.519 47.317 15.492 C 44.819 6.529 37.374 0 28.608 0 C 32.868 1.446 39.539 5.478 42.685 15.5 L 42.685 15.5 L 38.093 15.5 L 38.093 15.5 L 38.093 15.5 C 36.899 11.208 34.568 7.477 31.509 4.75 C 29.327 2.806 26.774 1.383 24 0.617 C 22.514 0.213 20.973 0 19.384 0 C 10.611 0 3.173 6.529 0.675 15.5 L 0.675 15.5 L 0.675 15.5 C 0.391 16.527 0.169 17.579 0.011 18.661 C -0.084 19.325 0.438 19.926 1.11 19.926 Z" fill="transparent" height="44.254853622795224px" id="Oy3B2G02e" transform="translate(-0.003 1.875)" width="48px"><path d="M 46.882 0.008 L 35.413 0.008 C 34.868 0.008 34.402 0.403 34.323 0.933 C 34.141 2.15 33.841 3.32 33.453 4.426 C 32.117 8.268 29.651 11.437 26.545 13.389 L 26.577 13.389 C 26.577 13.389 35.2 13.168 38.085 4.426 L 38.085 4.426 L 42.677 4.426 C 40.772 9.904 36.591 14.014 31.501 15.168 C 30.56 15.381 29.596 15.492 28.6 15.492 C 26.988 15.492 25.439 15.2 23.984 14.654 C 19.684 13.05 16.207 9.264 14.523 4.418 C 14.128 3.304 13.835 2.134 13.654 0.925 C 13.575 0.387 13.108 0 12.563 0 L 1.11 0 C 0.438 0 -0.084 0.601 0.011 1.265 C 0.161 2.348 0.383 3.399 0.675 4.426 C 3.181 13.397 10.611 19.91 19.368 19.918 C 15.108 18.472 8.445 14.433 5.307 4.426 L 5.307 4.426 L 5.307 4.426 L 9.899 4.426 C 11.101 8.71 13.424 12.449 16.483 15.168 C 18.665 17.112 21.218 18.543 24 19.302 C 25.478 19.705 27.027 19.918 28.616 19.918 C 37.382 19.918 44.819 13.397 47.325 4.426 C 47.609 3.407 47.831 2.348 47.989 1.265 C 48.084 0.601 47.562 0 46.89 0 Z" fill="rgb(20, 20, 20)" height="19.91824092137921px" id="Hl4ydHRG3" transform="translate(0 24.337)" width="48.00000000004601px"/><path d="M 1.11 19.918 L 12.579 19.918 C 13.124 19.918 13.59 19.523 13.669 18.993 C 13.851 17.776 14.152 16.606 14.539 15.5 C 15.875 11.658 18.333 8.489 21.431 6.537 L 21.407 6.537 C 21.407 6.537 12.784 6.758 9.899 15.5 L 9.899 15.5 L 5.307 15.5 L 5.307 15.5 C 7.204 10.022 11.393 5.904 16.475 4.75 C 17.416 4.537 18.38 4.426 19.376 4.426 C 20.989 4.426 22.538 4.719 23.992 5.264 C 28.292 6.869 31.77 10.655 33.453 15.5 L 33.453 15.5 L 33.453 15.5 C 33.848 16.614 34.141 17.784 34.323 18.993 C 34.402 19.531 34.868 19.918 35.413 19.918 L 46.882 19.918 C 47.554 19.918 48.076 19.318 47.981 18.654 C 47.831 17.579 47.609 16.519 47.317 15.492 C 44.819 6.529 37.374 0 28.608 0 C 32.868 1.446 39.539 5.478 42.685 15.5 L 42.685 15.5 L 38.093 15.5 L 38.093 15.5 L 38.093 15.5 C 36.899 11.208 34.568 7.477 31.509 4.75 C 29.327 2.806 26.774 1.383 24 0.617 C 22.514 0.213 20.973 0 19.384 0 C 10.611 0 3.173 6.529 0.675 15.5 L 0.675 15.5 L 0.675 15.5 C 0.391 16.527 0.169 17.579 0.011 18.661 C -0.084 19.325 0.438 19.926 1.11 19.926 Z" fill="rgb(20, 20, 20)" height="19.926144985236892px" id="Jt1DMWCge" transform="translate(0 0)" width="47.99209593618835px"/></g></svg>)
Oscilar's Impact
A tailored risk solution that allowed for rapid risk model development and deployment.
Oscilar provided Flexcar with a tailored risk management platform that addressed their specific challenges in handling complex risk scenarios outside of traditional banking frameworks. The solution facilitated rapid deployment, enabling quick transitions from theoretical risk assessment to actionable strategies.
This not only helped in significantly reducing risk rates but also enhanced Flexcar’s operational efficiency by shortening the lengthy processes of risk education and implementation. Additionally, the platform integrated multiple data points, which improved Flexcar’s ability to make data-driven decisions and respond more agilely to emerging risks.
"The collaboration with Oscilar has drastically reduced our asset misplacement issues to zero, which has been transformative for our operational efficiency."
Michael Zambrano
Executive Head of Risk
Flexcar
Key components of the solution included:
Flexibility and customization
Oscilar provided Flexcar with a highly flexible and customizable solution. Rather than just providing a limited set of "out-of-the-box" options, the Oscilar team worked closely with Flexcar to innovate and build capabilities tailored to Flexcar's specific needs and existing systems.
Comprehensive orchestration
Flexcar was able to orchestrate and integrate a wide range of data sources and functionalities, including 20+ integrations with third-party APIs (Equifax, Method, SentiLink, etc.), Flexcar's own machine learning models, and database integrations with Snowflake and Redshift. This allowed Flexcar to consolidate data and decisioning in one place.
Rapid testing and iteration
The platform provided powerful testing capabilities that allowed Flexcar to quickly test and refine their risk models and workflows. Features like A/B testing, shadow testing, QA testing of sample payloads, and a sandbox environment enabled Flexcar to make incremental improvements to their workflows in as little as a few hours to 1 day.
Modular architecture
Oscilar's solution allowed Flexcar to modularize their workflows using features like "child workflows". This enabled them to manage smaller pieces of logic independently and reuse them across workflows, rather than having one monolithic workflow.
Close partnership and support
Together we developed a close working relationship, with Oscilar providing ongoing, highly responsive support to the Flexcar team. Flexcar’s team has been forthcoming with ideas and needs, which we’ve been able to implement quickly.
Together, these features of Oscilar's platform not only addressed Flexcar's immediate needs in risk reduction and operational agility but also laid the foundation for ongoing improvements and innovations in their risk management practices. This solution enabled Flexcar to maintain a competitive edge by managing risks more effectively and responding more rapidly to changes in the marketplace.
Results
Tailored, rapidly deployable risk management solutions.
The adoption of Oscilar’s tailored risk management platform significantly enhanced Flexcar's operations, resulting in substantial improvements across various aspects of their business.
There was a dramatic decrease in average risk rates, from 10% to 5%. Subprime risk rates went down from 13%, which was near the industry average, to an impressive 6%, illustrating the effectiveness of Oscilar’s AI Risk Decisioning Platform. With Oscilar, Flexcar was able to reduce their vehicle misplacement cases down to zero, a significant milestone that impacted their ROI, as each stolen vehicle costs thousands of dollars.
Operational efficiency saw a major boost as the integration of the platform cut down the time from risk education to implementation from several months to mere weeks. This allowed Flexcar to respond swiftly to emerging challenges, thereby optimizing their operational agility.
The platform also facilitated advanced data integration, enabling Flexcar to make informed, data-driven decisions that further fine-tuned their risk management processes. Another notable outcome was the significant reduction in asset loss, with the count of unaccounted vehicles dropping to zero, effectively mitigating operational risks and financial losses.
Finally, Oscilar's solution provided scalable risk management capabilities that adapted as Flexcar grew, ensuring that their risk management efforts evolved in line with their expanding operational needs.
Flexcar's collaboration with Oscilar has revolutionized their approach to risk management, establishing a new benchmark in the auto leasing industry for integrating technology into operational processes. Looking forward, Flexcar is excited to expand this partnership, exploring further innovative solutions that Oscilar can bring to other aspects of their business.
![](data:image/svg+xml,<svg display="block" role="presentation" viewBox="0 0 48 48" xmlns="http://www.w3.org/2000/svg"><g d="M 0 48 L 0 0 L 48 0 L 48 48 Z M 44.447 0 L 3.544 0 C 1.584 0 0 1.547 0 3.459 L 0 44.531 C 0 46.444 1.584 48 3.544 48 L 44.447 48 C 46.406 48 48 46.444 48 44.541 L 48 3.459 C 48 1.547 46.406 0 44.447 0 Z M 14.241 40.903 L 7.116 40.903 L 7.116 17.991 L 14.241 17.991 Z M 10.678 14.869 C 8.391 14.869 6.544 13.022 6.544 10.744 C 6.544 8.466 8.391 6.619 10.678 6.619 C 12.956 6.619 14.803 8.466 14.803 10.744 C 14.803 13.013 12.956 14.869 10.678 14.869 Z M 40.903 40.903 L 33.787 40.903 L 33.787 29.766 C 33.787 27.113 33.741 23.691 30.084 23.691 C 26.381 23.691 25.819 26.588 25.819 29.578 L 25.819 40.903 L 18.712 40.903 L 18.712 17.991 L 25.537 17.991 L 25.537 21.122 L 25.631 21.122 C 26.578 19.322 28.903 17.419 32.362 17.419 C 39.572 17.419 40.903 22.163 40.903 28.331 L 40.903 40.903 Z" fill="transparent" height="48px" id="adFk4VB3K" width="48px"><path d="M 0 48 L 0 0 L 48 0 L 48 48 Z" fill="transparent" height="48px" id="DghPi7XP3" width="48px"/><path d="M 44.447 0 L 3.544 0 C 1.584 0 0 1.547 0 3.459 L 0 44.531 C 0 46.444 1.584 48 3.544 48 L 44.447 48 C 46.406 48 48 46.444 48 44.541 L 48 3.459 C 48 1.547 46.406 0 44.447 0 Z M 14.241 40.903 L 7.116 40.903 L 7.116 17.991 L 14.241 17.991 Z M 10.678 14.869 C 8.391 14.869 6.544 13.022 6.544 10.744 C 6.544 8.466 8.391 6.619 10.678 6.619 C 12.956 6.619 14.803 8.466 14.803 10.744 C 14.803 13.013 12.956 14.869 10.678 14.869 Z M 40.903 40.903 L 33.787 40.903 L 33.787 29.766 C 33.787 27.113 33.741 23.691 30.084 23.691 C 26.381 23.691 25.819 26.588 25.819 29.578 L 25.819 40.903 L 18.712 40.903 L 18.712 17.991 L 25.537 17.991 L 25.537 21.122 L 25.631 21.122 C 26.578 19.322 28.903 17.419 32.362 17.419 C 39.572 17.419 40.903 22.163 40.903 28.331 L 40.903 40.903 Z" fill="rgb(20, 20, 20)" height="48px" id="Qi9pnIQwR" width="48px"/></g></svg>)
![](data:image/svg+xml,<svg display="block" role="presentation" viewBox="0 0 48 48" xmlns="http://www.w3.org/2000/svg"><path d="M 34.653 0 L 41.4 0 L 26.659 16.847 L 44 39.772 L 30.422 39.772 L 19.788 25.868 L 7.62 39.772 L 0.869 39.772 L 16.635 21.752 L 0 0 L 13.922 0 L 23.535 12.709 Z M 32.285 35.734 L 36.023 35.734 L 11.891 3.826 L 7.879 3.826 Z" fill="rgb(20, 20, 20)" height="39.77194px" id="A8r2uGwai" transform="translate(2 3.808)" width="44px"/></svg>)
