Solutions
Integration-Free Automation
Auto loan funding is complex, manual, and prone to inconsistencies—slowing down contract processing and increasing risk for lenders.
Informed.IQ’s Integration-Free Automation transforms this process by bringing the power of AI-driven verification to funders without requiring IT integration. Through a simple drag-and-drop interface, lenders can instantly automate document classification, data extraction, and compliance checks, reducing manual workloads while improving speed, accuracy, and fraud detection. With Integration-Free Automation, lenders can fund more loans in less time, ensuring a seamless and scalable solution to modernize their funding operations.
Challenge
Processing auto loans is a time-consuming, error and bias prone manual process for funding teams. They must verify stipulations through ‘stare and compare’ processes across many documents and complete long checklists – all while staying compliant with federal and state laws. This process results in heavy manual processes, long contract-in-transit times, and lengthy training plans to ensure consistency of results across all funders.
Automated solutions that can integrate to a Loan Origination System (LOS) exist, like Informed Auto, however not all LOS providers allow access to new integrations or will require the prioritization and funding of in-house IT resources to build and manage.
Solution
Informed’s industry-leading auto loan verification AI can be leveraged via a drag-and-drop portal, enabling lenders to harness the power of Informed’s AI with no upfront tech effort.
- Increase Funder Efficiency: Reduce time to fund by leveraging Informed’s AI to automate the tasks of document classification, stacking, extraction of key data elements, and enforcing verifications policies.
- Increase funder consistency with reduced training time: Achieve consistent, auditable evaluation of the lending package through automation of predefined rules managed and purpose built interfaces for exception handling.
- Reduce fraud losses: Reduce losses through automated detection of potentially misrepresented and fraudulent documents that may otherwise be missed during manual review.
- Get to market fast with no IT integration: With no upfront IT effort needed, lenders can start using Informed to streamline their loan verifications in a matter of days, not weeks.
Integration-Free Automation
The Benefits
40 - 50% reduction in manual processing time
Reduce bias and errors stemming from manual verification processes
1.5 - 2x more loans funded within one day
Lenders can decrease the time to fund deals in 3 easy steps using Informed’s Integration-Free funding portal. By quickly logging in and creating a new verification session, lenders can drag and drop deal jacket documents for Informed’s AI to classify and extract key data to be used in verifications. AI-based verifications run in real time and are displayed back to the funder immediately, including actionable guidance on any issues detected.
Developing the real-time risk review of customer data in Informed’s core platform utilizes available on-demand interactive customer contact strategies. This makes operations simpler, faster, and more efficient with better outcomes for lenders and consumers.
