How Informed helps Consumer and Personal Lenders
Informed’s document AI enables consumer lenders to board more loans faster, and reduce fraud and risk. Combining OCR, generative AI, a data consortium and document intelligence, Informed automates the personal lending funding process. And, the copilot “rides along” with loan officers helping speed up the process and handle any required manual reviews.
Lenders use Informed’s knowledge graph, AI and machine learning to decide and fund consumer credit applications in real-time with higher accuracy. Real time verification of consumer documents improves speed and accuracy, reducing error rates.
Informed also reduces bias in the consumer or personal lending space. A real-time underwriting and funding process greatly improves the experience for full spectrum borrowers, both by improved service levels and reduction in uncertainty they may have faced with previous credit applications.
Lenders use AI and machine learning in real-time with higher accuracy
Lenders leverage AI and machine learning to fund consumer credit applications in real-time with higher accuracy, in a compliant and auditable fashion while significantly reducing conscious or unconscious bias and reducing error rates. Being able to verify consumer documents in real-time greatly improves speed and accuracy for underwriters.
Faster Process Improves Customer Experience
And, with the prevalence of fraud and collections increasing, banks are shifting focus to income verification controls and are looking at paystubs and bank statements early on in the process. Lenders can verify and authenticate income which mitigates fraud and decreases credit risk. The faster process improves the customer experience.