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 electronically, giving dealers visibility into customers’ affordability. The tool works with dealers’ current systems such as DealerTrack and RouteOne.
In addition to a quick link, Informed can provide a QR code and phone number for dealers to share with car buyers. The buyers finalize the verification process by uploading their documents or linking to bank accounts and payroll providers. Informed’s industry-leading AI technology instantly analyzes this data enabling the lender to offer a better deal structure. This reduces contracts in transit and potential errors, while increasing transaction efficiency and dealer satisfaction.
What are people saying?
“As a user of CollectIQ, we appreciate the latest enhancements including seamless integration with third-party service providers. And, this new connectivity is a game-changer for us. In addition, these enhancements will amplify our capabilities, streamline our processes, and deliver an unparalleled user and dealer experience,” said the VP of Credit at one of the country’s largest pre-owned auto retailers.
“In an industry where customer experience is everything, dealerships prioritizing digital transformation of their F&I departments come out on top.” said Justin Wickett, CEO of Informed.IQ. “we are thrilled to be first to offer this type of technology to our lending partners. CollectIQ enables our lenders to board more loans, fund dealers faster and reduce fraud.”
Real-time verification of consumer and dealer documentation streamlines and optimizes loan performance. Informed’s AI and modeling perform complex calculations ensuring accuracy, identifying omissions, and combating fraud.
Adine Deford is the VP of Marketing at Informed.IQ. She has more than 25 years of technology marketing experience serving industry leaders, world class marketing agencies and technology start-ups.