San Francisco, CA; December 14, 2023 – Informed.IQ, leading provider of AI-software that verifies, streamlines, and optimizes loan processing, unveiled today its new suite of Human-in-the-Loop (HITL) offerings. Informed has augmented its best-in-class AI for extractions, verification, and fraud detection with a Human-In-The-Loop copilot. The copilot supercharges loan officers, making them more efficient and ensuring the highest possible extraction rates, enabling lenders to automate more of their applications.
The HITL Copilot enables lending staff to verify and correct data initially extracted by AI, ensuring the highest possible accuracy. The services and interfaces have been designed with automation in mind, enabling humans to work alongside AI to reach the best possible outcome and capturing all critical fields from documents while reducing the manual effort required to make lending decisions. HITL also streamlines Informed’s continuous AI model improvements, making lenders even more efficient over time.
Informed offers two HITL options, enabling clients to find the right fit:
- Informed HITL – Informed’s trained operational staff boosts automated decisioning rates and catches errors earlier in the lending lifecycle with no additional development or operations training needed by lenders. AI-powered and purpose built tooling enables our review staff to act quickly to return data back to lenders. Teams are fully trained and experienced in extracting data from industry documents, resulting in consistent, high-quality output.
- HITL Copilot – Capitalize on your existing support staff and streamline operations costs by leveraging your team to augment Informed AI-powered extractions and verifications. Informed provides dedicated tools functioning as a standalone portal or embedded in a loan origination system to review documents, manage extractions, and make decisions quickly on loan verifications pending manual review.
“First and foremost, we’re an AI company – that’s where we’ve focused since founding the company. Now, we are building these copilots that work alongside lending staff helping them confidently automate more of their lending processes, while keeping them in full control,” said Justin Wickett, CEO and Co-Founder of Informed.
Informed HITL and Verifications Copilot work alongside Informed’s Consumer and Auto products.
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 2022, Informed processed over 4 million consumer credit applications for US lenders, automating over $120 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 50 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.