San Francisco, CA; February 6, 2024 – Informed.IQ, provider of AI-based software that verifies, streamlines, and optimizes loan processing enables FinBe USA (formerly Credito Real USA Finance) to digitally collect documents and verify financing policies, creating a better dealer and consumer experience. Through accurate consumer income calculations and validation of applicant data, loans are processed faster and more accurately with reduced fraud risk.
Vehicle financing lender FinBe USA is well-positioned in the franchise and independent auto dealership market, already exceeding its original growth expectations. The partnership with Informed.IQ allows FinBe USA to quickly scale and accelerate growth while continuing to provide solutions to dealers that drive efficiency and give them a competitive advantage in this rapidly evolving environment.
Mike Thacker, VP of Operations, at FinBe USA said “We are in the people business and we are leveraging cutting edge technology to focus on a better experience for our dealers, consumers, and employees. We’re giving our employees the most innovative technology and tools to deliver the best service and results to our dealers.”
FinBe USA’s competitive financing options, optimized by Informed’s AI-driven data approach, aligns the two as ideal long-term partners. Informed’s AI and modeling perform complex calculations ensuring accuracy, identifying omissions, and combating fraud. With a 99% accuracy rate and guaranteed service rates, dealers can now focus less on collecting and validating data and more on developing strong customer relationships.
“FinBe USA’s focus is on providing a seamless and transparent financing experience to customers with many different types of credit circumstances. Informed.IQ ensures that independent and franchise car dealers can focus on what matters most – building deep customer relationships,” said Justin Wickett, CEO of Informed.IQ.
Informed.IQ’s technology goes beyond image recognition (OCR) and confirmation of information contained within the document. In addition to providing real-time, no-touch loan processing capabilities, Informed’s AI software enables lenders to comply with regulatory requirements and be audit-ready in a precise and uniform way. The copilot “rides” along with the loan officers helping speed up the process and handle any required manual reviews.
Informed uses AI/ML to instantly verify income, assets, residence, insurance, auto stipulations, credit stipulations and more, enabling real-time, reliable credit decisions without bias. Informed’s models are trained to process hundreds of document types and consumer-permissioned data sources, automating stipulation clearance for lenders. In 2023, Informed processed over 6 million consumer credit applications for US lenders, automating over $125 billion in loan originations to date. Informed.IQ automates verifications with 99% accuracy in seconds with no humans-in-the-loop.
Informed’s Knowledge Graph and Data Consortium comprising more than 80 million records and 1.5 billion lending data points powers a Configurable, Verticalized AI Platform enabling financial institutions to scale their entire portfolio of documents and data.
About FinBe USA
Based in Fort Lauderdale, Florida, FinBe USA is a national lender that has been working with franchise and independent auto dealerships since 2007 to originate auto loans for applicants with varying credit circumstances. FinBe USA also offers Commercial Landscaping Equipment and Mobility financing options.
Since 2007, FinBe USA has worked with both Franchise and Independent dealerships to provide competitive financing for thousands of customers in 32 U.S. states. We take pride in financing good, hard-working people that deserve great service and lots of choices.