Data Consortium

Lending database of 66+ million records fights fraud

What is the Informed Data Consortium?

Informed works with lenders across industry categories to generate insights, collectively benefiting our clients and partners. We call this network of data and collective insights – the Informed Data Consortium.

The Informed Data Consortium contains more than 1.5 billion lending data points. The data spans 340 dimensions from 66+ million records across top financial institutions. The Consortium contains data from tens of millions of applicants and documents.

The data supports cross-industry coverage and insights into loan applications, auto dealer behavior, consumer income, and fraud. It is the industry’s leading consortium of income data, benefiting our clients as they fight fraud.

How it works

Informed’s Knowledge Graph and Data Consortium power a configurable, verticalized AI Platform. The platform enables financial institutions to scale their entire portfolio of documents and data, while detecting and reducing fraud.

The AI learns the most relevant and prioritized fields, while the copilot interface is a configurable engine allowing ease of human review, if needed.  This is all  powered by Informed’s data extraction and classification technology. 

The technology reads and ingests a wide range of forms and data inputs, including blurry or handwritten documents.

informed data consortium

The Benefits

Informed makes lenders easier to do business with, resulting in increased market share, improved customer retention and:

State-of-the-art fraud detection

Our unique overlays our comprehensive knowledge of fraudulent documentation with customer-permissioned data to assess individual applicant fraud risks. You can further leverage Informed’s data through tools like Income Clear, that knows the income for a particular occupation by geography and leverages the data consortium, determining additional risk factors for an applicant. This saves time and money on validating income for applicants who are not likely to misrepresent their income.

Catch misrepresentation easily and reduce costs

Informed provides a "likelihood of default" prediction and misrepresentation indicator that enable lenders to evaluate the likelihood of loss associated with other application characteristics. This reduces the costs of other solutions and eliminates errors that may arise from manual paycheck reviews. Moreover, it enables lenders to approve more quality loans due to reduced friction in the application process.

Cutting-edge AI models go beyond traditional methods. They seamlessly provide aggregated dealer trends and cross-industry indicators to support dealer management including: fraud , finance reputational, and operational risks, pricing, and economic indicators. By harnessing the power of data, we optimize data elements, empowering lenders to navigate the evolving landscape, striking the right balance between attractiveness and profitability.

Upcoming Webinar: Crossing the chasm into the new digital world: The impact of AI and automation in creating a fully digital auto ecosystem