SAN FRANCISCO – Informed.IQ, a technology company used by financial institutions to verify origination data and documents instantly and accurately, announced the addition of veteran automotive financing executive Jessica Gonzalez. The move will help the company further penetrate the auto business.
According to a news release, Gonzalez was most recently senior vice president of digital transformation at Santander Consumer USA and joined as the company’s director of auto business.
Informed.IQ is among the fastest growing automation software companies to the auto finance industry. They now count the majority of the country’s top auto providers as customers.
With more than 15 years’ experience in financial services, including tenures at Santander Consumer USA and Visa, the company said Gonzalez will expand Informed.IQ’s automotive market share.
The company added Gonzalez will be instrumental in boosting productivity for auto finance companies through Informed.IQ’s proprietary machine learning and artificial intelligence technology.
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“We are very excited that Jessica is joining our team,” Informed.IQ chief executive officer Justin Wickett said in the news release. “As a seasoned professional in the automotive industry, Jessica understands the needs and pain points for auto lenders and dealers. Her most recent success while working on digital transformation for a respected auto lender makes her an ideal complement to our senior team of technologists.”
“I believe Informed.IQ’s technology is answering what automotive finance has needed and been striving for over the past decade: An AI-driven solution to help minimize the amount of time and effort it takes for a car buyer to secure a loan,” Gonzalez said. “I’ve had the opportunity to meet with many companies in this space, and Informed.IQ brings the ability to truly transform the way auto finance does business.”
The company processes 100,000 applications every month and works with companies including Ally and Westlake Financial as well as large national retailers and dealership groups.
More recently, Informed.IQ added unsecured personal lenders, student loan providers and mortgage lenders to its client list.
Informed.IQ’s technology goes beyond image recognition and confirmation of information within the document. The software compares buyer data against a database of 25 million records, which allows Informed.IQ to check many data points.
Some of this data includes comparing paystubs against a database of fraudulent templates, checking that the buyer’s income is comparable to others in their profession and geography as well as interpreting 401K withholdings or earned overtime. All of these indicate that the borrower is responsible.
The company said all of this analysis and more is done in a matter of seconds. In addition to providing real-time straight through processing capabilities, Informed.IQ enables finance companies to meet regulatory requirements and be audit-ready, since all processing is done in “precisely and uniformly” by the AI software.