"Informed.IQ, which serves seven of the top 10 U.S. auto lenders, said its platform has supported over $350 billion in loan originations and reduced loan closing times from days to minutes. The funding will support Informed.IQ's expansion in auto finance and its push into mortgage, consumer lending, tenant screening and government benefits, the company said in a press release. Lenders are capturing more loans with their current staff, said Justin Wickett, CEO and Co-Founder of Informed.IQ."
"Lenders are capturing more loans with their current staff, said Justin Wickett, CEO and Co-Founder of Informed.IQ. We've built the industry's most comprehensive lending intelligence platform, enabling faster, more accurate verification and fraud detection that previously was going uncaught, contributing to the rise in losses. This investment from Invictus validates our approach and will fuel our next phase of growth."
"The nation's largest lenders trust Informed.IQ's AI-first platform, said John DeLoche, co-founder and managing partner at Invictus. Their dataset is a true differentiator. We are honored to work with Justin and the team to accelerate product innovation for their customers and expand these benefits into new markets. Added William Nettles, co-founder and managing partner at Invictus, What stood out about Informed.IQ is that they incorporate years' worth of historical loan performance data when training their models."
Informed.IQ serves seven of the top 10 U.S. auto lenders and its platform has supported over $350 billion in loan originations, reducing loan closing times from days to minutes. New funding from Invictus will fund expansion into auto finance and pushes into mortgage, consumer lending, tenant screening, and government benefits. The platform analyzes more than 2 billion lending data points from over 100 million loan documents to detect fraud and automate verification at scale. Rising fraud burdens include a 145% jump in consumer non-mortgage write-offs since 2021 and estimated auto lending fraud exposure above $7.9 billion. The investor group includes Invictus, Nyca Partners, and U.S. Venture Partners.
Read at www.housingwire.com
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