Sold by: Informed.IQ
AWS Free Tier
Informed.IQ automates the consumer lending verification process and validation of loan documentation.
Overview
Informed uses AI and ML to instantly verify income, assets, residence, insurance, auto stipulations, credit stipulations and more, enabling real-time, reliable credit decisions without bias. Informed's ML models are trained to process hundreds of document types and consumer-permissioned data sources, automating stipulation clearance for lenders. In 2022, Informed processed over 4 million consumer credit applications for major US lenders, automating over $110 billion in loan originations to date. Informed.IQ automates verifications with 99% accuracy in seconds with no humans-in-the-loop. Originally focused on auto lending, where six of the top ten auto lenders use the solution, financial institutions now use Informed for mortgages, credit cards, personal and student loans, and automated bank account openings.
Highlights
- Improved efficiency and accuracy in the consumer lending journey, reduced operating expenses, and improved fraud detection capabilities. Informed helps customers classify, extract and verify information using OCR and AI models across hundreds of different document types.
- Allows automotive lenders (both direct and indirect) to straight through process loans in real-time. Taking a process that has historically taken months or weeks into a matter of seconds.
- Informed.IQ offers products that can cover your entire lending ecosystem. From application, decisioning, credit underwriting, and funding, Informed.IQ has a solution that fits your financial institution's unique needs.
Details
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Delivery method
Deployed on AWS
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Introducing multi-product solutions
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Features and programs
Financing for AWS Marketplace purchases
AWS Marketplace now accepts line of credit payments through the PNC Vendor Finance program. This program is available to select AWS customers in the US, excluding NV, NC, ND, TN, & VT.
Pricing
This product is available free of charge. Free subscriptions have no end date and may be canceled any time.
Additional AWS infrastructure costs may apply. Use the AWS Pricing Calculator to estimate your infrastructure costs.
Dimensions summary
You pick from four independent products, each billed by Units rather than as ranked tiers. Skip the Stip validates income without documents. Informed Consumer runs automated verifications for consumer lending. Informed Auto handles dealer document and ancillary product verifications for auto deals. CollectIQ gives consumers a tool to submit documents. Each option targets a different verification task, so you select the ones that match your workflow. You can combine products as needed. Since pricing uses per-Unit billing, your cost scales with the volume of verifications or documents you process.
Top-of-mind questions for buyers
For Informed Consumer, a Unit maps to an automated verification run at underwriting or funding. For Informed Auto, a Unit covers dealer document and ancillary product verifications, such as GAP, VSC, or anti-theft checks within a deal jacket. You are billed per verification processed.
CollectIQ meters document collection activity, not verification runs. It is a consumer-facing tool where borrowers upload documents or link bank and payroll accounts. The verification products, by contrast, count each automated verification as a Unit. You can pair CollectIQ with a verification product or use it on its own.
Informed Auto typically carries the volume for auto workflows, since it bundles consumer stipulation checks with dealer document verifications per deal jacket. If you add CollectIQ for document collection, both bill independently by their own Units. Your total reflects the combined per-Unit counts across the products you use.
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Delivery details
Software as a Service (SaaS)
SaaS delivers cloud-based software applications directly to customers over the internet. You can access these applications through a subscription model. You will pay recurring monthly usage fees through your AWS bill, while AWS handles deployment and infrastructure management, ensuring scalability, reliability, and seamless integration with other AWS services.
Support
Vendor support
Private Offer negotiation only for this product. Please complete the registration process or please contact us at info@informediq.com .
AWS infrastructure support
AWS Support is a one-on-one, fast-response support channel that is staffed 24x7x365 with experienced and technical support engineers. The service helps customers of all sizes and technical abilities to successfully utilize the products and features provided by Amazon Web Services.
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