loan processing

Wolters Kluwer and Informed.IQ collaborate on AI-driven document intelligence to enhance vehicle lending lifecycle

Collaboration set to modernize automotive financing, supporting a fully digital buyer experience Minneapolis, MN; March 12, 2024 — In its work to help simplify and streamline the complex landscape of automotive financing, Wolters Kluwer Compliance Solutions has agreed with Informed.IQ to distribute an automated technology solution that modernizes the vehicle lending lifecycle by using digitized […]

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Blog - Document Quality Decline Among Seniors and African Americans

Document Quality Decline Among Seniors and African Americans can lead to greater friction in the loan approval process

Over the last 20 months, there’s been a noticeable decline in lending verification document quality – disproportionately affecting senior citizens and African Americans. According to Informed’s Data Consortium, senior citizens are 1.4 times more likely to upload poor quality documents and African Americans are 1.1 times more likely. This statistical variation suggests a potential correlation

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Funding Auto Loans

Solutions Funding Auto Loans Lenders spend countless hours manually verifying loan applicants’ information – specifically, their income (and manually calculating it), residence, employment, and proof of insurance, among other things. In addition to verifying consumer information, there is ample work required to review deal jackets and corresponding ancillary product contracts, such as a vehicle service

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Informed Maintains Compliance

Solutions Informed Maintains Compliance Verifications Help Lenders Stay Compliant Informed’s AI copilot automates lender’s review of key Federal and State compliance obligations. Our compliance verifications use advanced machine-learning techniques to read deal jacket documents and confirm that required disclosures, signatures, and key terms are present. We do this in seconds, as opposed to the usual

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Consumer Verifications

Solutions Consumer Verifications 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

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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 software uses AI and machine

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How to get more deals without increasing risk: The Power of a Dealer Portal with Integrated Digital Tools

A dealer portal combining non document verification and document verification in a waterfall with digital collection tools and dealer rewards provides several benefits that contribute to improved JD Power and CSAT (Customer Satisfaction) scores and enhanced capture rates. Documentary and non-documentary validation are two different approaches to applicant validation that are beneficial for auto dealers

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Just Released: Auto Loan Defect Industry Survey Report

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