PRODUCTS
Informed Defender
Document fraud intelligence tool that utilizes industry data repository to help lenders mitigate losses by catching misrepresentations
What is Informed Defender?
Informed Defender is a powerful new fraud tool allowing lenders to request and verify income documentation. Fraudsters are constantly finding ways around lender defenses, but vigilant lenders have a strong fraud program. An important component of fraud mitigation is identity verification.
Informed Defender also helps lenders manage dealer risk. On a quarterly basis, Informed will share industry
wide data on auto dealers regarding income misrepresentation with Informed Defender customers. This input helps lenders optimize the value of their dealer footprint and avoid high-risk dealers.
Challenge
Great auto lenders have a proprietary decisioning framework to determine which applicants to approve and under what conditions. Often, the strength of the entire company is based on the power of this credit underwriting. Common to all of these frameworks is a reliance that the information provided by the applicant is accurate. Unfortunately, there are numerous cases where this is not the case due to applicant fraud or misrepresentation. These inaccuracies lead to increased credit or fraud losses. Within the auto finance space, income misrepresentation is a particularly large concern.
Solution
Informed has analyzed auto finance documents since 2017 and is a premier expert in this field. Informed has information on tens of millions of income documents stored in ways to detect anomalies without having to retain personally-identifiable information. Using Informed’s cutting-edge AI capabilities, Informed has created Informed Defender, which identifies inconsistencies in pay stubs and bank statements to notify the lender in real-time of potential mis-representation, the category level of the potential mis-representation, and the list of misrepresented documents.
