Informed is a technology company specializing in data-powered employment and income verification solutions through the application of artificial intelligence (AI) and machine learning (ML) techniques. Founded in 2016, the company is headquartered in San Francisco, California. Informed's mission is to streamline and enhance the lending process by automating document verification, thereby reducing fraud, costs, and risks associated with manual processes.
Key Strategic Focus
Informed's strategic focus centers on automating loan originations for financial institutions, particularly in the auto lending sector. The company offers a suite of products designed to collect and verify consumer documents efficiently:
- CollectIQ: A tool for collecting consumer documents.
- Informed Auto: A platform dedicated to document verifications in auto lending.
- Income Clear: A compliant data product that assesses the likelihood of income misrepresentation based on an applicant's location and occupation.
These solutions aim to enhance fraud detection, ensure compliance, and improve income verification processes for lenders.
Financials and Funding
As of May 2021, Informed secured a $20 million Series A funding round, bringing its total funding to $33.5 million. Notable investors include Ally Ventures, Broadway Angels, and Nyca Partners. The capital is intended to further develop Informed's technological capabilities and expand its market reach.
Technological Platform and Innovation
Informed distinguishes itself through its proprietary AI and ML technologies, which automate the verification of over 44 different document types, including pay stubs, bank statements, and tax returns. The company's platform integrates seamlessly with existing Loan Origination Systems (LOS), enabling real-time document decisioning without significant IT overhead. This technological approach not only accelerates the lending process but also enhances accuracy and compliance.
Leadership Team
- Justin Wickett: Co-Founder and Chief Executive Officer.
- Terry Lee: Chief Revenue Officer.
- Magdalena Yesil: Co-Founder and Executive Chairman.
These leaders bring extensive experience in technology and financial services, guiding Informed's strategic direction and growth.
Competitor Profile
Informed operates in a competitive landscape with several notable companies:
- Point: Develops a home equity investment platform.
- Pipe: Offers a working capital platform.
- FNZ Wealthtech: Provides a platform for wealth managers.
- FNZ: Develops a comprehensive wealth management platform.
These competitors focus on various aspects of financial technology, from home equity investments to wealth management solutions.
Strategic Collaborations and Partnerships
Informed has established partnerships with financial institutions such as Westlake Financial, utilizing its AI to automate verifications and mitigate fraud. These collaborations enhance Informed's market position and demonstrate the effectiveness of its solutions in real-world applications.
Operational Insights
Informed's competitive advantage lies in its ability to integrate advanced AI and ML technologies into the lending process, offering scalable and efficient solutions that address common industry challenges such as fraud detection and compliance. By focusing on automation and accuracy, Informed positions itself as a valuable partner for lenders seeking to modernize their operations.
Strategic Opportunities and Future Directions
Looking ahead, Informed aims to expand its product offerings and enter new markets within the financial services sector. The company's commitment to innovation and its robust technological platform provide a strong foundation for future growth and the development of additional solutions tailored to the evolving needs of lenders.
Contact Information
- Website: informediq.com
- Headquarters: San Francisco, California, United States
For more information, visit Informed's official website.
