A myriad of documentation is needed for lenders to make an accurate lending decision. This becomes even more complicated in the case of auto loans where an entirely new category of paperwork enters the picture. Lenders need to be able to process this unstructured data quickly and easily.
Our next guest on the Fintech One-on-One podcast is Justin Wickett, the CEO and Co-Founder of Informed.iq. They have tackled this challenge head-on and are able to automate verifications in real-time with 99% accuracy.
In this podcast you will learn:
- How Justin's time at Lyft and Credit Karma helped solidify the idea for Informed.
- Details of the Informed core product.
- How the automated verification process works.
- How the gig economy has complicated income verification.
- The kinds of documents they are processing.
- How they are using AI and Robotic Process Automation.
- What they are doing when it comes to fraud prevention.
- Why they decided to start with auto loans.
- The core target market for Informed.
- What their partnership with Origence (formerly CU Direct) means.
- How they work with credit unions, where there are limited tech capabilities.
- Justin's vision for the future of Informed.
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