Informed provides AI-driven real-time income, asset, identity, and insurance verifications for financial institutions, utilizing a data consortium of over 1.5 billion lending data points to enhance accuracy and compliance. This technology enables lenders to process more loans efficiently while minimizing fraud and reducing manual review costs.
Funding
$33.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Lenders face challenges in accurately verifying applicant information, including income, employment, assets, and identity, leading to increased fraud, manual review costs, and slower loan processing times. Traditional verification methods are often time-consuming, prone to errors, and may not provide a comprehensive view of an applicant's financial profile.
Solution
Informed provides an AI-powered verification platform that automates the real-time assessment of applicant data for financial institutions. By leveraging a data consortium of over 1.5 billion lending data points, Informed enhances the accuracy of income, asset, identity, and insurance verifications. The platform uses document intelligence and machine learning to streamline the loan process, reduce fraud, and improve regulatory compliance. Informed's technology integrates with existing Loan Origination Systems (LOS) to provide automated employment and income verifications, accessible via a stand-alone portal, without requiring heavy IT involvement.
Target Audience
Informed primarily serves consumer lenders, student loan refinancing companies, government benefit program administrators, and auto lenders seeking to automate verifications, reduce fraud, and improve compliance.
Features
- AI-driven document processing for over 200 document types, including pay stubs, bank statements, W-2s, and tax returns
- Real-time income calculation and verification based on lender-specific policies
- Fraud detection using a data consortium of over 1.5 billion lending data points
- Automated compliance checks to ensure consistency, auditability, and reduced bias
- Integration-free automation that sits between the LOS and application sources
- Stand-alone portal for accessing automated employment and income verifications
- CollectIQ tool for digital document collection and verification from car buyers
- Human-in-the-Loop (HITL) services to handle complex or ambiguous cases