August 2023

Generative AI is impacting auto lending compliance

Lenders Beware: Generative AI is already Impacting Auto Lending Compliance

Auto lenders, like leaders in other business sectors, are grappling with the current wave of excitement over generative AI. Many of us have already seen a coworker or vendor pitch a generative AI use case. The safe bet is that this technology will bring big changes to auto lending. Compliance Risks From our perspective, this

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Deciphering Aftermarket Products: Leverage AI to better understand your deal jackets

In auto finance, retail installment sales contracts (RISCs) outline the terms and conditions agreed between credit applicant, auto dealer, and lender. A crucial part of this contract is the section, “Itemization of Amount Financed.”  Furthermore, this is where the contract displays the details: sales price, taxes or fees, and any aftermarket products (VPPs) the borrower

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From Hallucination to Validation: Optimizing ChatGPT for Employer Name Matching

In a previous blog post, we discussed leveraging ChatGPT to improve employer name match — a critical task in employment verification.  Now, we are thrilled to share further insights into the intricacies of employer name matching. By leveraging the power of large language models (LLMs) like ChatGPT, we have achieved even greater performance in identifying

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CollectIQ Launch Blog

Introducing CollectIQ: the first-of-its-kind Digital Dealer Tool

We are thrilled to announce that we are launching CollectIQ, an AI-powered tool enabling auto lenders to digitally obtain consumer documents for verifying financing requirements. What is CollectIQ? CollectIQ empowers auto dealers to instantly verify consumer data and calculate income, providing a transparent and accurate financing experience. It allows car buyers to securely provide documents

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AI and Fintech: Transforming the Future of Financial Services

The convergence of artificial intelligence (AI) and financial technology (fintech) is revolutionizing the landscape of financial services. With advancements in machine learning, data analytics, and automation, AI is empowering fintech companies to enhance efficiency, improve decision-making, and deliver personalized experiences to customers. Soon, the power of AI will transform the fintech sector and impact the

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Informed named to the Software Report's Top 25 AI Companies for 2024

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