Verifying an applicant’s information is a difficult and time consuming task. Making important decisions in loan underwriting and understanding an individual’s ability to pay, requires an accurate picture of that applicant’s total income.
Best in class solutions run complex ML/AI models to classify and extract information off documents in a matter of seconds. This provides faster decisioning and verification of an applicant’s information, a process that can take hours manually. Informed digitally classifies documents using industry models and extracts data from documents including proof of income, residence, identity, Insurance, SSN, and bank account.
Verifying credit applicants is a time consuming, manual, error and bias prone process made worse by low quality document resolution. Approval delays cause lenders to lose deals while credit applicants wait for loan officers to manually verify credit and other information, often miscalculating income.
Using Applied Intelligence and Machine Learning, Informed automates the collection and validation of income, identity, residence, and insurance in real-time according to your policies. Informed automates over 75% of credit stipulations streamlining processes and providing more transparent, accurate decisioning data.
Fund more deals faster, with better customer experiences, and reduce cost and errors associated with manual data collection and validation. Achieve improved efficiency and accuracy, reduced costs, and improved fraud detection.