income verification

The Importance of Income Verifications Across Industries: Safeguarding Against Fraud

In today’s interconnected world, where financial transactions and government assistance programs are integral parts of everyday life, ensuring the accuracy of income information is crucial. Income verifications play a pivotal role across various sectors, from financial services to apartment rentals to government programs, by providing a mechanism to combat fraud and maintain integrity. Let’s explore

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Verifying Income

Solutions Verifying Income AI verifications for income and employment with 99% accuracy Stated income is notoriously falsified and unreliable. Paycheck stubs and bank statements are easily forged. Income calculation is complex, and humans make mistakes – the more manual processes in place, the greater compliance and fair lending risk. Our income document intelligence uses AI

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Verifying Bank Statements and Self-Employed Income in Realtime: A Game Changer for Dealer Portals

AI-generated image from Midjourney representing an auto dealer doing manual paperwork Calculating income from bank statements and self-employed applicant’s income has traditionally been a time-consuming, manual process often leading to errors and delays in decision-making. Lenders are now adopting new technology allowing dealers to access instantaneous validation, ensuring accuracy and efficiency in their financial assessments

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Human-in-the-Loop

PRODUCTS Human-in-the-Loop (HITL) 100% Extraction Rates What is Human in the Loop? Informed has augmented its best-in-class AI for extractions, verification, and fraud detection with Human-In-The-Loop (HITL).  HITL enables operations staff, at Informed or the lender,  to verify and correct AI-extracted data. This ensures the highest possible accuracy and completeness so lenders can automate more

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New: American Banker - Sharing information = best defense against AI fraud

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