Lending is a difficult business. And it’s hard enough dealing with the ordinary risks in consumer lending. But lenders also deal with an overwhelming, ever-changing body of regulation. Fortunately, there are ways to mitigate the risk. One of the best is ensuring that data used in evaluating loans is complete and accurate. In that way
Compliance & Regulatory Issues Affecting Consumer Lenders Read More »
In 2023, lenders are anticipating fraud losses and litigation expenses. Q4 2022 earnings calls had a constant theme — risks and controls, and digital transformation are priorities for many of the top lenders. Originations seem to be trending down and charge offs are increasing, as lenders found their credit policies riskier than expected. But, lenders
At Informed, we know auto lending. Six of the top ten US auto lenders use our service in their lending process and we’ve learned quite a bit from that experience. On the technology front, we have multiple patents and received two provisional patents in 2022. With AI and Machine Learning, we perform validation checks on
In this ever-shifting environment, lenders face many challenges: decelerating global growth, high inflation, structural economic change, tighter central bank policies, and high cybersecurity risks. For some, these risks are causing decelerating loan growth and declining earnings. The continued success of regulators targeting operations will continue if organizations focus solely on manual solutions and controls. Several
4 Compliance Issues We’re Hearing from Auto Lenders Read More »
This fall, we announced our partnership with F&I Sentinel. Together, we will evolve digital lending by providing a comprehensive service focused on verification and compliance. Informed’s AI-based software verifies, streamlines, and optimizes loan processing. F&I Sentinel’s CITADEL® provides a turnkey compliance solution for the financing and resolution of F&I products. CITADEL addresses the rapidly changing
Navigating Compliance in Turbulent Times The governance, risk management, and compliance (GRC) capabilities lenders have in place today face new challenges from turbulence in the economy and the industry. Let’s look at some of the issues confronting lenders and detail how to tackle them as they mature their organization’s ability to build a stronger compliance,
